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What is the equilibrium price of chicken burgers? Discuss your reason.
The following table shows the daily supply and demand for chicken burgers at a sporting event:
Price (RM) Quantity demand (units) Quantity supply (units)
4.00 110 420
3.50 160 380
3.00 240 240
2.50 320 160
2.00 410 96
a) What is the equilibrium price of chicken burgers? Discuss your reason.
b) If the organizer of this sporting event decide to set the price at RM4.00, how many chicken burgers should be sold? Write your answer.
c) One of the burger stall in this sporting event is offering free fries for every 3 chicken burgers purchased but customers. Describe how does this offer may affect customers demand?
If the organizer of this sporting event decide to set the price at RM4.00, how many chicken burgers should be sold? Write your answer.
Briefly describe any four (4) factors that could result in a product having
an inelastic demand
The net profit before taxes as per the profit and loss account of Gaman Ltd is Rs 269244.
With the given set of information, classify the delivered items as (operating / investing /
financing), share the correct classification with logical reasoning, and calculate the cash flow
from operating activities
TABLE BELOW
Loss on sale of asset
95780
Dividend income
26000
Interest income
35000
Finance cost paid on debentures
12000
Gain on sale of investment
45000
Depreciation on fixed assets
85000
Amortization expenses
110000
. Beef supplies are sharply reduced because of drought in the beef-raising states, and consumers turn to pork as a substitute for beef. How would you illustrate this change in the beef market in supply-and-demand terms?
Morgan Ltd is a retailer of Juice barrels. The company has an annual demand of 74,000 barrels. The barrels cost $20 each. Fresh supplies can be obtained immediately but ordering cost and the cost of carriage inwards are $300 per order. The annual holding cost of holding one barrel in inventory is estimated to be $2. The economic order quantity has been calculated to be 7,000 x 12 barrels.
The suppliers introduce a quantity discount of 3% (.97) on orders of at least 9,000 barrels and 4% on orders of at least 10,000 barrels.
Calculate to determine whether the least cost order quantity is still the EOQ of 7,000 barrels
Two students go out to lunch and decide to split the bill evenly between them. Each student has a quasi-linear utility function given by ui(fi , xi) = φi(fi) + xi , where φi(·) is strictly concave, fi is the amount of food consumed by student i, and xi is a composite numeraire good. Each student has a fixed budget of mi . EVALUATE THIS CLAIM: Both students eat too much!
When deciding how much of their income to save vor retirement
Who has a greater opportunity cost of enjoying leisure, a janitor or a brain surgeon?
