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Solnce55 [7]
3 years ago
14

What is the monopolist's profit under the following conditions? The profit-maximizing price charged for goods produced is $12. T

he intersection of the marginal-revenue and marginal-cost curves occurs where output is 10 units and marginal cost is $6. Average total cost for 10 units of output is $5.
Business
1 answer:
Assoli18 [71]3 years ago
5 0

Answer:

monopolist profile is $70

Explanation:

given data

profit-maximizing price = $12

output = 10 units

marginal cost = $6

average total cost = $5

to find out

what is monopolist profile

solution

we know that Profit is  express as

profit = Total Revenue - Total Cost      .................1

so here total revenue is

Total Revenue = Price × Quantities

Total Revenue = 12 × 10 = $120

and total cost is

Total Cost = Average cost ×  Quantities

Total Cost = 5 × 10 = $50

so here from equation 1

profit = $120 - $50

so monopolist profile is $70

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Morganton Company makes one product and it provided the following information to help prepare the master budget for its four mon
Ipatiy [6.2K]

Answer:

Morganton Company

1. Budgeting increases effective financial management while ensuring proper allocation of scarce resources.  It encourages planning for the future as well as improved business decisions.  It helps management to identify problems before they occur and to develop strategies for solving any problems that may arise.  With budgeting, the organization is in a better position to monitor its overall performance and ensure the achievement of its goals and objectives.  Finally, budgeting increases the motivation to achieve goals for both the management and individual employees.

2. The budgeted sales for July are $10,000.

3. The expected cash collections for July are $9,040.

4. The accounts receivable balance at the end of July are $6,000.

5. According to the production budget, the units produced in July are 1,040 units.

Explanation:

a) Data and Calculations:

Budgeted selling price per unit = $70

                                      June      July       August    September  

Budgeted unit sales     8,400   10,000    12,000       13,000

Cash Collections:

40% month of sale      3,360     4,000      4,800        5,200

60% month following                5,040      6,000        7,200

Total cash collections 3,360     9,040    10,800       12,400

Production costs:

                                      June      July    August    September

Ending Inventory        2,000     2,400     2,600

Cost of goods sold     8,400   10,000    12,000       13,000

Goods available        10,400   12,400    14,600

Beginning Inventory   1,680    2,000      2,400         2,600

Production costs        8,720   10,400    12,200

Unit cost of materials $10         $10          $10   ($2 * 5)

Units produced            872      1,040      1,220

Accounts receivable balance at July end:

June credit sales      $8,400

June cash collection  3,360

July 1 Beginning bal.  5,040

July credit sales       10,000

Cash collections       9,040

Ending balance        6,000

4 0
3 years ago
At a price of $8.5 per ticket, a musical theater group can fill every seat in their 1800 seat performance hall. For every additi
sasho [114]

Answer:

The ticket price that maximizes revenue is $18.10

Explanation:

Hi, first we need to construct the revenue equation in terms of the additional dollar charge (that would be X). That is:

Revenue=Price*Quantity

Revenue=(8.5-X)(1,800-65X)

So we expand it:

Revenue=15,300-552.5X+1,800X-65X^{2}

Revenue=-65X^{2} +1247.5X+15,300

This is a parabola, and we need to find its vertex, which in our case that would be the maximum additional dollar charge in order to obtain the highest revenue possible, to find the vertex, we need to consider that:

Y(X)=AX^{2}+ BX+C

And to find the X-coordenate we have to use the following equation.

Vertex(X)=\frac{-B}{2A}

In our case, A= -65; B= 1,247.5, so, all should look like this:

Vertex (X)=\frac{-(1247.50}{2(-65)} =9.6

That means, we need to make 9.6 increments of $1 in order to obtain the max revenue possible, therefore, the price would be

Price = $8.50 + $1(9.6)= $8.50 + $9.6 =$18.10

Best of luck.

7 0
3 years ago
Which of the following statements regarding the opportunity cost of producing potatoes and the production possibilities frontier
Temka [501]

Answer: A. The island of Atlantis has an increasing opportunity cost of producing potatoes and the production possibility frontier is bowed outward.

Explanation:

When there is an increasing opportunity cost of producing a good, the Production Possibilities Frontier (PPF) will be bowed out to represent that as more of the good is being produced, more of another good is being given up to do so.

For the island of Atlantis therefore, as they produce more of potatoes, they are giving up being able to produce whatever more and more of other goods they produce which is therefore leading to a PPF that is bowed outward.

8 0
3 years ago
Assume that Robin's checking account at Folsom Bank has a balance of $2,000. If Robin withdraws $200 of cash from the bank's ATM
astra-53 [7]

Answer:

c

Explanation:

because he got out 200 from his bank

4 0
3 years ago
In most transactions, the buyer is accepting the condition of the property at what point in time:_________
Dmitriy789 [7]

Answer:

b. At the signing of the contract

Explanation:

A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.

Mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent and it is at this point they (buyer and seller) sign the contract. Therefore, mutual assent connotes agreement, acceptance and consent to a contract by both parties.

<em>Hence, in most transactions, the buyer is accepting the condition of the property at the signing of the contract as an approval or consent to the terms and conditions. </em>

7 0
3 years ago
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