6. The demand function is Q = 100 –.5P. The cost function is TC = C = 100 + 60(Q) + (Q)26. The demand function is Q = 100 –.5P. The cost function is TC = C = 100 + 60(Q) +(Q)2 a. Find MR and MC. MR = 520 – 4Q MC = 100 + 2Q MR = 520 – 4Q MC = 100 + 2Q 520 – 4Q = 100 + 2Q b. Demonstrate that profit is maximized at the quantity where MR = MC. Profit = TR – TC TR = P*Q = ($380 per unit)(70 units) = $26,600 2 TC = 100Q + Q + 50 = 100(70) + (70)(70) + 50 = $11,950 Profit = $14650 c. Derive the
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Dynamics Interactive Advertisement Dynamics – An Overview About the Author Rani Bisal Rani Bisal is a Domain expert and a member of the Presales team for the Advertising & New Media sub-segment for the Media & Information Services Business Unit at TCS. She has over 5+ years of experience in domain consulting with wide range of experience in the Advertising industry, specifically the Online Media and the Ad Agencies. She has a bachelors degree in Mechanical Engineering. She can be reached at rani
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Impossibility of performance as a ground to avoid the contract: critical analysis based on Indian case law ANAND J NAIR 3 BA LLB ‘C’ 1316211 SCHOOL OF LAW, CHRIST UNIVERSITY Submitted to- Ms Jayanthi Bai H.L IMPOSSIBILITY OF PERFORMANCE. INTRODUCTION In some cases, a contract can be ended even before the parties have the chance to fulfill their contractual duties and responsibilities. This is known as “contract termination” or “termination of contract”, and can be based on many different
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(b) What is the elasticity of demand at a price of 2.5? Verify that at this point MR = P(1 + 1/e) (c) Total cost (TC) is given by: Q | TC | 0 1 2 3 | 0 5 11 18 | What is the profit maximizing output? What is the profit at that output? Question 3 (a) The demand curve for our product is given
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Assignment 1: Operations Decisions ECO 550- Managerial Economics and Globalization 7/21/2012 1. Briefly describe the details of the fictitious business that you created for this assignment. There are currently 100 workers being utilized that work for 20 days per month at a wage of $70 per day. The workers produce 6,000 units of output per month with variable costs of $2,000 per day. The fixed costs are not disclosed and we are told they are "high enough" so the total costs exceed the firms
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one. The team was able to find the total number of subscribers by adding all of the customer groups together (i.e. PS+AD+TC+ISP=TOT). After finding the total the team was able to then find what the percentage of each of the four customer groups were. This was completed by dividing the number of subscribers within each group by the overall number of customers (i.e. PS/TOT, AD/TOT, TC/TOT and ISP/TOT). Question Two This question was a bit tricky, because of the wording in 5-2 Artist’s Performance Royalties
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being less than 1, it is inelastic. This means that customers are not sensitive to price change. Since E is inelastic price and quantity move in the same direction. 1b. TR= 50*10,000 = 500,000 TC= 15*10,000 = 150,000 1c.TR= 55 x 10300= 566500 CM= 55-35= 20 TC= 20 x 10300= 206,000 Yes we would recommend the increase in price because contribution margin increased by $56,000 1d. % Profit B/E (50-55)/$15+(50-55) =.5 or 50% 1e. Quantity demanded would have
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Economics 101 Summer 2013 Answers to Homework #3 Due Tuesday, June 11, 2013 Directions: The homework will be collected in a box before the lecture. Please place your name, TA name and section number on top of the homework (legibly). Make sure you write your name as it appears on your ID so that you can receive the correct grade. Late homework will not be accepted so make plans ahead of time. Please show your work. Good luck! Please realize that you are essentially creating “your brand” when
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Chapter 2 The Cost Function LEARNING OBJECTIVES Chapter 2 addresses the following questions: Q1 What are different ways to describe cost behavior? Q2 What is a learning curve? Q3 What process is used to estimate future costs? Q4 How are the engineered estimate, account analysis, and two-point methods used to estimate cost functions? Q5 How does a scatter plot assist with categorizing a cost? Q6 How is regression analysis used to estimate a mixed cost function
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.......... 9 Dental Insurance .......................................................... 9 Thrift Savings Plan (TSP) ............................................ 9 Changes to Pay while on TCS orders ............................ 9 TCS to Korea ............................................................... 9 TCS From Korea .........................................................10 Scenarios:........................................................................12 Single
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