11. (Marginal Analysis) The owner of a small pizzeria is decid- ing whether to increase the radius of its delivery area by one mile. What considerations must be taken into account if such a decision is to contribute to profitability?
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- One of South Africa’s cellphone operators, Cell C, is changing their overall business strategy.The focus is now on providing customers with “affordable and accessible services." To do thisthey need your economic expertise.They know that when price for premium services increases from R2/minute to R2.2/minute thedemand for their services falls from 12 customers to 10 customers. Question: What recommendations can you make to increase total revenue?2. (a) What is the profit-maximizing level of output and how much daily profit will the producer below earn if the price of pizza is $ 2.50 per slice? 17 MC S/slice ATC /AVC 2.50 1.40 slices/day 570 2 (b) What is the profit-maximizing level of output and how much daily profit will the producer below earn if the price of pizza is $ 0.80 per slice? MC S/slice ATC JAVC 1.03 0.80 slices/day 360Economics ASAP) Average waiting time for ordering is 2minutes. However, in peak - hours, the timeincrease up to 6 minutes. Around 2- 4 people in line during thenormal time, and in the peak- hours, about4 - 6 people in the line for ordering. Customers usually wait 8 minutes to get their orders. In No peak- hour, No customers in the line.In No peak- hour, It took 3 minutes to getthe order. {ONLY ONE CASHIER AND ONE BARISTA CAN U CALCULATE THE ARRIVAL RATE,SERVICE RATE (CASHIER), SERVICE RATE (BARISTA)? AND BOTTLE NECK }
- 2. The relationship between price and demand per month for a consumer product is p = 3500 -1.1D5 where p is the price per unit in dollars and D is the demand in units. The fixed cost is $300 per month and the variable cost is $4.00 per unit. What is the optimal number of units that should be produced and sold per month? a. b. What is the maximum profit per month?6. Elasticity and total revenue I The following graph shows the daily demand curve for bippitybops in Vancouver. On the following graph, use the green rectangle (triangle symbols) to shade the area representing total revenue at various prices along the demand curve. Notice that when you click on the rectangle, the area is displayed. Note: You will not be scored on any changes made to this graph. PRICE (Dollars per bippitybop) 240 220 200 180 160 140 120 100 80 60 40 20 0 0 6 12 ** + 48 B 18 24 30 36 QUANTITY (Bippitybops per day) Demand 54 80 72 Total Revenue ?QUESTION 4 (10 marks) Price/Revenue/Cost (RM) MC 60 АТС 30 DD= AR 18 `MR Quantity (units) 50 60 80 a) Calculate the total revenue (TR) earned by the firm. (3m) b) Calculate the total costs (TC) paid by the firm. (3m) c) Calculate the profit of the firm. Name the profit. (4m) 2
- Extra exercises (5) [Compatibility Mode] - Word (Product Activation Failed) Mailings Review View O Tell me what you want to do.. 21 T AaBbCcDc AaBbCcI AaBbCcDc AaBbC AaBbCcl AaB AABBCCC Aa - A- I Normal Body Text 1 No Spac.. Heading 1 Heading 2 Title Subtitle Sub Paragraph Styles Question 3. "he market for calculators in the city of Lefke is competitive and has the following demand chedule: Price Quantity demanded 5.7 $3 4 1050 11 250 Bach producer in the matet has fixed costs of $16 and average variable costs as follows: 6 10 950 852 750 650 550 450 350 Q AVC VC TC MC ATC 2 $1 4 2. 10 12 6 a. Compute each producer's variable cost, total cost, marginal cost and average total cost b. On the same diagram draw the average variable cost, the marginal cost and the average variable cost curves (label them AVC, MC and ATC respectively) c. Show the supply curve of the firm on the above graph. d. What is the shut-down price? How much is the amount of loss at that price? e. The price for…Note: Dont Copy from Chegg4. (a)Calculate the Breakeven point for Triple P Pizza in dollars. Fixed Costs: $1.45 Million Sales Price: $17.00/Pizza Variable costs: $6.75 / pizza (b) If this business would like to start an advertising campaign, which amounts to an increase in variable costs of $1.20/pizza. With no other charges to the base situation, what is the new Breakeven Point in dollars.
- QUESTION 29 PRODUCT product X b) product Y product Z 153 1988 price: $2.00 2,000 O c) 1.2 O d) 150 O e) 200 quantity: price: $1.00 1,000 quantity: price: quantity: $5.00 1,000 1989 $4.00 2.500 $1.00 1,500 $4.00 1,000 YEAR 1990 $6.00 2.000 $1.00 2,500 29. Given the data in the above table, what is the price index for 1991, using 1988 as the base year and using the 1988 consumption pattern (market basket)? O a) 100 $2.00 1,000 1991 $8.00 1.500 $1.00 3,000 $3.00 1,000The following graph illustrates the weekly demand curve for motorized scooters in Madison. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. PRICE (Dollars per scooter) 325 300 275 250 225 200 175 150 125 100 75 50 25 0 0 10 A + 20 30 X B Demand 40 50 60 70 80 QUANTITY (Scooters) 90 100 110 120 130 Total Revenue ?(Short-Run Profit Maximization) A monopolisticallycompetitive firm faces the following demand and coststructure in the short run: a. Complete the table.b. What is the highest profit or lowest loss available tothis firm?c. Should this firm operate or shut down in the short run?Why?d. What is the relationship between marginal revenue andmarginal cost as the firm increases output?
