a) Find the total profit or total loss of the firm shown in Figure 9. (b) Is the firm in the short run of the firm would accept in the long run? (LO 21-5, 21-6, 21-7) FIGURE 9 D 10 9 8 7 6 5 4 3 0 10 o 20 30 MC 8 ATC 40 50 60 70 80 Output D, MR 90 100 +
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- 7. Find TC, AFC, AVC, AC, and MC from the following table: (LO11-3) Units 0 -~ m +5 2 3 $200 200 200 200 200 200 CONDAIRE VC $0 20 30 35 50 80Helen has just graduated from SFA with a degree in accounting and received two job offers: one from Deloitte with salary $105,000 per year, and the other from KPMG for $85,000. But Helen rejected both offers and stayed in East Texas to pursue her passion of teaching others to ride horses. She spends $25,000 per year on feed and supplies for her horses. Suppose Helen has 30 clients per year who each pay her $8,000 for a year of riding lessons. a. What are her accounting profits? b. What are her economic profits?2. (LO 2.3) Northwind Traders is a fictitious specialty foods company created by Microsoft, which has also created a fictitious database for the company. The Northwind database includes several tables, including Products, Suppliers, and Categories. Pictured below is a subset of the Products table, which details all the products that Northwind Traders sells. ProductName SupplierID CategoryID QuantityPerUnit UnitPrice UnitsInStock UnitsOnOrder ReorderLevel Discontinued 10 boxes x 20 Chai Chang Aniseed Syrup Chef Anton's Cajun Seasoning 1 1 1 2 1 bags 24-12 oz 1 bottles 12- 550 ml 2 bottles 2 48-6 oz jars 18 19 10 22 39 17 13 53 0 40 70 10 25 25 0 b. If you averaged everything in the SupplierlD field, would you obtain a useful number? Explain. c. If you averaged UnitPrice, would you obtain a useful number? Explain. 0 0 0 0 a. Review each variable in the Products table. Which would be classified as numerical data-that is, data that would be interesting to add or average?
- Non-linear pricing in water utilities: You are the manager of water utilities, and you are trying to determine how different water pricing schemes will affect consumption. One option for pricing is called decreasing block pricing, where the marginal price paid decreases with quantity paid. In particular, you are considering a decreasing block schedule where consumers pay $0.20 per gallon for the first 20 gallons consumed, and then $0.10 per gallon for any additional gallons consumed. For this decreasing block pricing scheme, draw the budget constraint for a consumer that has $10 of income, where the composite good is the good on the y-axis. Another option for pricing is called increasing block pricing, where the marginal price paid increases with the quantity paid. In particular, you are considering an increasing block schedule where consumers pay $0.20 per gallon for the first 20 gallons consumed, and then $0.40 per gallon for any additional gallons consumed. For this increasing…You leave your $50,000 a year job and invest your savings of $40,000 (on which you were earning 10 percent annual interest) to start your own business. In the first year, your business generated $100,000 in total revenue and had to pay $40,000 in explicit costs. The economic profit generated by this gym was $60,000 $10,000 O $6,000 greater than your accounting profit because economic profit is always greater than accounting profit.Exercise 4 (LO 3, 6) Fair value hedge with forward contract. Stark, Inc., placed an order for inventory costing 500,000 FC with a foreign vendor on April 15 when the spot rate was 1 FC $0.683. Stark received the goods on May 1 when the spot rate was 1 FC = $0.687. Also on May 1, Stark entered into a 90-day forward contract to purchase 500,000 FC at a for- ward rate of 1 FC = $0.693. Payment was made to the foreign vendor on August 1 when the spot rate was 1 FC = $0.696. Stark has a June 30 year-end. On that date, the spot rate was 1 FC = $0.691, and the forward rate on the contract was 1 FC = $0.695. Changes in the current value of the forward contract are measured as the present value of the changes in the forward rates over time and no separate accounting is given the time value of the contract. The relevant discount rate is 6%. %3D %3D %3D %3D 1. Prepare all relevant journal entries suggested by the above facts assuming that the hedge is designated as a fair value hedge.
- Suppose that you own a 10-acre plot of land that you would like to rent out to wheat farmers. For them, bringing in a harvest involves $30 per acre for seed, $80 per acre for fertilizer, and $70 per acre for equipment rentals and labor. With these inputs, the land will yield 40 bushels of wheat per acre. If the price at which wheat can be sold is $5 per bushel and if farmers want to earn a normal profit of $10 per acre, what is the most that any farmer would pay to rent your 10 acres? What if the price of wheat rose to $6 per bushel?LO 11.2: I can calculate marginal cost, revenue, and profit and distinguish between marginal cost and average cost. Suppose that Patrick's Handmade Puppets has a production cost that is given by C(x) = 2,000 + 130x – 0.6x2 + 0.002x3 dollars (09. . He is the chief cook and handles all purchasing. Tina is the hostess and manages the front of the house (restaurant talk for the dining area). She schedules the wait staff, ensures that customers are well taken care of, and pitches in to bus tables and refill drinks as needed. Tina also handles the financial aspects of the business and is responsible for bookkeeping and tax compliance. Two years ago, Tony and Tina became parents of a baby boy, Joseph, nicknamed “LJ” for Little Joe. Tina brings LJ to work each day, and both Rosellis as well as the restaurant staff help out watching him. Recently, the restaurant has grown busier, so Tony and Tina expanded the hours of operation. As a result, the staff rarely has any free time and Tina feels she has too much to handle. Tony and Tina are considering outsourcing their bookkeeping and tax-filing needs to a local accountant. Typically, Tina spends 18 hours per month on bookkeeping and taxes. This increases to 40 hours in April. She uses…You are the owner of a restaurant, and currently you have only one waiter. While this keeps costs down, many of your customers go home because they are tired of waiting in line or waiting for their order. You hire four more waiters and waitresses, and you are now able to serve a dramatically higher number of customers. Seeing the huge productivity gains from hiring more staff, you then hire 20 more waiters and waitresses. However, you are not able to serve any more customers than you were able to when your staff size was only four. In fact, your restaurant has become overly crowded because there is not enough room in your restaurant for all of your staff. You are confused as to why hiring four more staff members increased your productivity, but hiring 20 more did not. What concept from the background readings best describes what happened in this case? Explain your reasoning.В.2 (1). Mr. Majid is a wholesaler in Mutrah market. The main items he sell in the Seeb market are Wheat, Rice and Sugar. Jasim LLC is a retailer in Barka who buys wheat, rice and sugar from Majid, in whole sale since ten years for the retail shop. As they are in a very good trade relationship Majid planned to give him a trade discount of 20%, 25% and 30% on wheat, rice and sugar respectively. If Jasim LLC, gets such a discount from Majid , they will be able to sell the items in the below mentioned list prices: Items Total list price Wheat ( 500 kg) OMR 899.50 Rice ( 1000 kg ) OMR 1002.90 Sugar ( 900 kg) | OMR 999.50 You are required to: (a) What price Jasim LLC should pay to buy the Wheat to Mr. Majd, the wholesaler? (b) What price Jasim LLC should pay to buy the Rice to Mr. Majid, the wholesaler? (c) What price Jasim LLC should pay to buy the Sugar to Mr. Majid, the wholesaler?1. Rio live in a town with 300 adults and 200 children, and he is thinking about putting on a play to entertain your neighbors and make some money. A play has a fixed cost of $2,000 except all cost like maintenance costs until two years, but selling an extra ticket has zero marginal cost. Here are the demand schedules for his two types of customer: Price Adults Children $10 9 100 8 200 7 300 6 300 300 100 4 300 200 300 200 300 200 1 300 200 300 200 a. To maximize profit, what price would he charge for an adult ticket? For a child's ticket? How much the profit? (Hint: total cost for this year include fixed cost) b. Suppose in this year, the city council passes a law prohibiting him from charging different prices to different customers. What price does he set for a ticket now? How much profit now? (Hint: when quantity of produced yield maximum revenue or the sum of these both revenues sastify)SEE MORE QUESTIONS