Answer:
Total profit = $1800000 @ a given demand level of 100K units of swimsuit.
Explanation:
Lets first develop a formula representing the Total profit for any demand level, see as follows:
(Selling price per unit× d) - (cost per unit× d)= Total profit
We will be using the short forms of the components in this formula.
SP = selling price per unit
d= demand
cp= cost per unit
TP= Total profit.
Now lets substitute the values into the formula to compute profit at any demand level (in this case 100,000 units of swimsuits) as follows:
Total profit = ($40× 100000) - ($22× 100000)
Total profit = $4000,000 - $2200,000
Total profit = $1800000 @ a given demand level of 100K units of swimsuit.
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<em>(NOTE: The formula mentioned above can be used to compute the correct profit for any demand level, even though if there is a change in sp and/or cp, the formula can also be useful.)</em>
Answer:
Cost of land = $76,240
Explanation:
Cost of land = cash price + accrued taxes + attorney's fees + broker's commission + clearing and grading
Cost of land = $61,440 + $4,720 + $2,660 + $3,360 + $4,060
Cost of land = $76,240
- Original cost is the total price associated with the purchase of an asset.
- The original cost of an asset takes into consideration all of the items that can be attributed to its purchase and to putting the asset to use.
- These costs include the purchase price and such factors as commissions, transportation, appraisals, warranties and installation and testing.
- Original cost can be used to value an asset type, including equipment, real estate and security instruments.
Answer:
Explanation:
This is an algebra question about fractions.
You need to find 3/10 of the income, and the income is $44,000.
You must muliply the fraction 3/10 by the $44,000 income.
To multily one fraction by a whole number you convert the whole number to a fraction with denominator 1. Then multiply numerator with numerator and denominator with denominator. This is how:
Answer:
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Answer:
B. the longrun profit would be negative.
Explanation:
A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
A firm would shut down in the short run if price is less than average variable cost and exit if it is making a loss
