Dr Nick

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About Dr Nick

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Teaching Since: May 2017
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  • MBA (IT), PHD
    Kaplan University
    Apr-2009 - Mar-2014

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  • Professor
    University of Santo Tomas
    Aug-2006 - Present

Category > Business & Finance Posted 01 Jul 2017 My Price 14.00

The Paradise Shoes Company has estimated its weekly TVC function from data collected over the past several months, as TVC =

Problem 1: William is the owner of a small pizza shop and is thinking of increasing products and lowering costs. William’s pizza shop owns four ovens and the cost of the four ovens is $1,000. Each worker is paid $500 per week.

Problem 2: The Paradise Shoes Company has estimated its weekly TVC function from data collected over the past several months, as TVC = 3450 + 20Q + 0.008Q2 where TVC represents the total variable cost and Q represents pairs of shoes produced per week. And its demand equation is Q = 4100 – 25P. The company is currently producing 1,000 pairs of shoes weekly and is considering expanding its output to 1,200 pairs of shoes weekly. To do this, it will have to lease another shoe-making machine ($2,000 per week fixed payment until the lease period ends).  Show all of your calculations and processes. Describe your answer for each item below in complete sentences, whenever it is necessary.

 

Answers

Dr Nick
(4)
Status NEW Posted 01 Jul 2017 08:07 AM My Price 14.00

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