Preliminary data: Confectionery "cupcake problem"; the data on recent 25 days are given the below table. Number of Days Number of sold cupcakes (frequency) 1 2 3 3 4 5 6 Total number of 25 days: The cupcakes demanded during the day are sold for 15 euros/piece, but in the evening it is possible to sell all cupcakes produced and unsold during the day for 1 euro/piece. The cost to produce one cupcake is 7.70 euro/piece Random numbers for the next 5 days are: 65; 93; 14;46; 31 TASK: Use Preliminary data, prices, costs, random numbers for the next 5 days and calculate What is the total profit for 5 days if the company produces only 5 cupcakes per day? 8 6

Preliminary data: Confectionery "cupcake problem"; the data on recent 25 days are given the below table. Number of Days Number of sold cupcakes (frequency) 1 2 3 3 4 5 6 Total number of 25 days: The cupcakes demanded during the day are sold for 15 euros/piece, but in the evening it is possible to sell all cupcakes produced and unsold during the day for 1 euro/piece. The cost to produce one cupcake is 7.70 euro/piece Random numbers for the next 5 days are: 65; 93; 14;46; 31 TASK: Use Preliminary data, prices, costs, random numbers for the next 5 days and calculate What is the total profit for 5 days if the company produces only 5 cupcakes per day? 8 6

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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the amount of cereal consumed by a member in a hotel varies directly as their number if 900k of cereal are needed in a month by 50 members. how many members will be need 2610kg of cereal
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Part 2 of 4 The following diagram illustrates the situation in the dry cleaning market. The marginal social cost (Susc) of the pollution rises as the quantity of items cleaned per week rises. In addition, there are two demand curves, one for a smaller city. Dg. the other for a larger city. D Why does the social cost curve (Susc) have a different slope than the private cost curve (SMPC)? A. The marginal social cost of pollution is increasing at a faster rate than the marginal private cost of dry cleaning OB. The marginal social cost of dry cleaning declines as output increases. OC. The total social cost of dry cleaning increases as output increases. OD. The marginal private cost of dry cleaning increases as output increases. OE The marginal social cost of dry cleaning increases as output increases. Taxing Externalities 3 What tax rate per item cleaned will achieve economic efficiency in the smaller city? $ (Enter your response rounded to two decimal places.) Price (dollars per item…
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A competitive industry has production processes that generate pollution. ok with studies carried out on the affected population, the marginal costs associated with contamination are constant and CU500. for each unit of the good produced. these costs are associated with lost workdays, illness treatment costs, and the nuisance generated in the population. Currently the production level of the industry is 250 units and the market price is 1,500 (MU/unit). Market studies carried out by companies estimate that if the price rises At 1,800 (mu/unit) the quantity demanded would fall to 200 units and the marginal cost of the production of each company in this new production level is 1,300 (m.u./unit). Assume linearity in market demand and in the marginal costs of production of the companies Graph to justify your answers. A)Determine the optimal production level from the perspective of the whole of the society. Show your result graphically.
A competitive industry has production processes that generate pollution. okay with studies carried out on the affected population, the marginal costs associated with contamination are constant and 500 u.m. for each unit of the good produced. These costs are associated with lost working days, illness treatment costs and the nuisance generated in the population. Currently the production level of the industry is 250 units and the market price is 1500 (um/unit). Market studies carried out by the firms estimate that if the price rises at 1,800 (mu/unit) the quantity demanded would drop to 200 units and the marginal cost of production of each firm at this new production level is 1,300 (m.u./unit). assume linearity in market demand and in the marginal costs of production of the firms. Graph to justify your answers. b)Graphically indicate and determine the magnitude of the social cost of the situation with a production level of 250 units.
A competitive industry has production processes that generate pollution. okay with studies carried out on the affected population, the marginal costs associated with contamination are constant and 500 u.m. for each unit of the good produced. These costs are associated with lost working days, illness treatment costs and the nuisance generated in the population. Currently the production level of the industry is 250 units and the market price is 1500 (um/unit). Market studies carried out by the firms estimate that if the price rises at 1,800 (mu/unit) the quantity demanded would drop to 200 units and the marginal cost of production of each firm at this new production level is 1,300 (m.u./unit). assume linearity in market demand and in the marginal costs of production of the firms. Graph to justify your answers. )Determine the level of tax that would have to be applied to production to achieve the social optimum.
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