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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
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Phoniex University
Oct-2001 - Nov-2016
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:
Complete each of the following economic problems.
Problem A
Choco Delite is a manufacturer of fine chocolates. Its monthly rental expense is $1,000,000. It also has $2 million in fixed labor costs. Its marginal costs are $.70 per chocolate bar. If sales fall by 30 percent from 2 million chocolate bars per month to 1,400,000 chocolate bars per month, what happens to the AFC per chocolate bar? The MC per chocolate bar? What about the minimum amount that can be charged to break even on these costs?
Problem B
Assume that the cost data in the table below are for a purely competitive producer:
Cost Data
| Total | Average | Average | Average | Marginal | Price | Price–ATC |
|---|---|---|---|---|---|---|
| Product | Fixed Cost | Variable Cost | Total Cost | Cost | Â | Â |
| 0 | Â | Â | Â | Â | Â | Â |
| 1 | $25.00 | $10.00 | $35.00 | $10.00 | Â | Â |
| 2 | 12.50 | 8.00 | 20.50 | 6.00 | Â | Â |
| 3 | 8.33 | 6.67 | 13.00 | 4.00 | Â | Â |
| 4 | 6.25 | 5.50 | 11.75 | 2.00 | Â | Â |
| 5 | 5.00 | 4.80 | 9.80 | 2.00 | Â | Â |
| 6 | 4.17 | 4.50 | 8.67 | 3.00 | Â | Â |
| 7 | 3.57 | 4.57 | 8.14 | 5.00 | Â | Â |
| 8 | 3.13 | 5.00 | 8.13 | 8.00 | Â | Â |
| 9 | 2.78 | 6.00 | 8.76 | 14.00 | Â | Â |
| 10 | 2.50 | 7.50 | 10.00 | 21.00 | Â | Â |
Respond to the following:
Read the Problem Preparation and Submission Guidelines linked in the resources before submitting your assessment.
You are required to submit your assessment to the Turnitin source matching tool. Refer to the FlexPath instructions on the Turnitin iGuide page, linked in the Assessment Resources.
Refer to the Economic Problems 3 Assessment Scoring Guide to ensure that you meet the grading criteria for this assessment. Submit your assessment for faculty evaluation by clicking the linked assessme
 Economic Problems 3 Assessment Scoring Guide.
 Using the Scoring Guide to Enhance Your Learning.
 iGuide: Turnitin.
 Problem Preparation and Submission Guidelines.
 Helpful Hints for Learners.
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