QuickHelper

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About QuickHelper

Levels Tought:
Elementary,High School,College,University,PHD

Expertise:
Accounting,Applied Sciences See all
Accounting,Applied Sciences,Business & Finance,Chemistry,Engineering,Health & Medical Hide all
Teaching Since: May 2017
Last Sign in: 355 Weeks Ago, 4 Days Ago
Questions Answered: 20103
Tutorials Posted: 20155

Education

  • MBA, PHD
    Phoniex
    Jul-2007 - Jun-2012

Experience

  • Corportae Manager
    ChevronTexaco Corporation
    Feb-2009 - Nov-2016

Category > Accounting Posted 20 May 2017 My Price 12.00

What would the answer be in detail as requested by instructor?

Question description

 

ASSIGNMENT DESCRIPTION

You are starting your own Internet business. You decide to form a company that will sell cookbooks online. Justcookbooks.com is scheduled to launch 6 months from today. You estimate that the annual cost of this business will be as follows:

Technology (Web design and maintenance)

$5,000

Postage and handling

$1,000

Miscellaneous

$3,000

Inventory of cookbooks

$2,000

Equipment

$4,000

Overhead

$1,000

Part I

Deliverable Length: 1 graph plus calculations

You must give up your full-time job, which paid $50,000 per year, and you worked part-time for half of the year.

The average retail price of the cookbooks will be $30, and their average cost will be $20.

Assume that the equation for demand is Q = 40,000 – 500P, where

Q = the number of cookbooks sold per month 
P = the retail price of books.

Show what the demand curve would look like for price between $25 and $35.


Address the following questions:

Suppose that you expect to sell about 22,000 cookbooks per month online, and assume your overhead, technology, and equipment costs are fixed. What are your total costs?

Is the business worth pursuing so far?

What market structure have you entered, and why?

What can you do to guarantee success in this market?

What pricing strategy might you use?

You may use the following two resources to assist in this assignment as well:

Please submit your assignment.

For assistance with your assignment, please use your text, Web resources, and all course materials.

Answers

QuickHelper
(10)
Status NEW Posted 20 May 2017 07:05 PM My Price 12.00

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