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Alex_Xolod [135]
3 years ago
7

The Hartford Symphony Guild is planning its annual dinner-dance. The dinner-dance committee has assembled the following expected

costs for the event: Dinner (per person) $14 Favors and program (per person) $7 Band $1,800 Rental of ballroom $1,100 Professional entertainment during intermission $2,000 Tickets and advertising $700 The committee members would like to charge $49 per person for the evening’s activities. Required: 1. Compute the break-even point for the dinner-dance (in terms of the number of persons who must attend).
Business
1 answer:
Bas_tet [7]3 years ago
5 0

Answer:

$200 persons

Explanation:

Total variable cost per person:

= Dinner (per person) + Favors and program (per person)

= $14 + $7

= $21

Total fixed cost:

= Band + Rental of ballroom + professional entertainment during intermission + Tickets and advertising

= $1,800 + $1,100 + $2,000 + $700

= $5,600

Price = $49

Contribution = Price - Total variable cost per person

                    = $49 - $21

                    = $28

1. Break-even point for the dinner-dance:

= Total fixed cost ÷ Contribution margin per unit

= $5,600 ÷ $28

= $200 persons

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Harrizon [31]

Answer:

Answer for the question:

Assume that the hypothetical economy of Molpol has 8 workers in year 1, each working 1,200 hours per year (40 weeks at 30 hours per week). The total input of labor is 9,600 hours. Productivity (average real output per hour of work) is $10 per worker

Instructions: In parts a and b, round your answers to the nearest whole number. In part c, round your answer to 2 decimal places.

a. What is real GDP in Molpol? Suppose work hours rise by 2 percent to 9,792 hours per year and labor productivity rises by 5 percent to $10.5

b. In year 2, what will be Molpol's real GDP?

c. Between year 1 and year 2, what will be Molpol's rate of economic growth? percent

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Explanation:

7 0
3 years ago
A the production possibilities frontier (PPF) is bowed outward as a result of:_________
vodomira [7]

Answer: 2) increasing opportunity costs.

Explanation:

The Production Possibilities frontier is bowed out as it shows that for one more unit of a good to be produced, an additional unit of the other good must be given up.

This represents increasing opportunity costs because opportunity cost is the cost we incur for choosing one alternative over another. By producing more and more of one good, we give up more and more of the other good which means that our opportunity cost rises.

8 0
3 years ago
Your​ company, which has a MARR of​ 12%, is considering the following two investment​ alternatives:
mote1985 [20]

Answer:

future worth:

project A  11,615.26

project B  12,139.18‬

It should choose project B as their future value is greater

IRR of project A: 13.54%

We should remember that the IRR is the rate at which the net value is zero thus, equals the inflow with the cash outlay

It is calculate with excel or financial calculator due to the complex of the formula.

Explanation:

Project A

We calculate the future value of the cash flow per year and cost as we are asked for future value. The salvage value is already at the end of the project life so we don't adjust it.

Revenues future value

C \times \frac{(1+r)^{time} -1}{rate} = FV\\  

C 15,000

time 8

rate 0.12

15000 \times \frac{(1+0.12)^{8} -1}{0.12} = FV\\  

FV $184,495.3970  

Expenses future value

C \times \frac{(1+r)^{time} -1}{rate} = FV\\

C 3,000

time 10

rate 0.12

3000 \times \frac{(1+0.12)^{10} -1}{0.12} = FV\\  

FV $52,646.2052  

Cost future value

Principal \: (1+ r)^{time} = Amount  

Principal 40,000.00

time 10.00

rate 0.12000

40000 \: (1+ 0.12)^{10} = Amount  

Amount 124,233.93

Net future worth:

-124,233.93 cost - 52,646.21 expenses + 184,495.40 revenues + 4,000 salvage value

future worth 11,615.26

Project B

cost:

Principal \: (1+ r)^{time} = Amount  

Principal 60,000.00

time 10.00

rate 0.12000

60000 \: (1+ 0.12)^{10} = Amount  

Amount 186,350.89

expenses 52,646.21 (same as previous)

revenues

C \times \frac{(1+r)^{time} }{rate} = FV\\  

C 24,000

time 7

rate 0.12

24000 \times \frac{(1+0.12)^{7} -1}{0.12} = FV\\  

FV $242,136.2815  

TOTAL

242,136.28 + 9,000 - 52,646.21 - 186,350.89 = 12,139.18‬

Internal rate of return of project A

we write the time and cash flow for each period.

Time Cash flow

0 -40,000

1 -3,000

2 -3,000

3 12,000

4 12,000

5 12,000

6 12,000

7 12,000

8 12,000

9 12,000

10 16,000

IRR 13.54%

Then we write on excel the function =IRR(select the cashflow)

and we got the IRR of the project

6 0
3 years ago
The price elasticity of a good will tend to be larger:a)the longer the relevant time period. b)the fewer number of substitute go
Butoxors [25]

The price elasticity of a good will tend to be larger if the fewer number of substitute goods will be  available.

The cross elasticity of demand for substitute goods is always positive because the demand of one good increases at the time when the price for the substitute good increases however the cross elasticity of demand for complementary goods is always negative.

For example, if the price of coffee rises, the quantity demanded for tea which is the best  substitute of coffee beverage will increase as consumers will switch to a less expensive but the  substitutable alternative.

This is reflected in the cross elasticity of the demand formula, as both the numerator  which is the percentage change in the demand of tea and denominator which is the price of coffee  shows a positive increase.

To know more about price elasticity of demand here:

brainly.com/question/13565779

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7 0
1 year ago
If a one-year bond has a face value of $5,000 and is sold for $4,500, what is the interest rate on the bond?
Arada [10]

Answer:

11.1%

Explanation:

The face value is $5000

It is sold for $4,500

Therefore the interest rate of this bond can be calculated as follows

$5000-$4500

= 500

500/4500 × 100

= 0.111 × 100

= 11.1%

Hence the interest rate is 11.1%

6 0
3 years ago
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