Problem on price mark up
A company consists $27 per unit in variable costs and $1,000,000 annually in fixed costs. Demand is predicted to be 100,000 units annually. Determine the price if a markup of 40% on total cost is used to determine the price?
Expert
Total variable cost 1, 00,000 * 27 = $27, 00,000+ Fixed Cost = $10, 00,000
Thus total cost is $37, 00,000 i.e. $37 per unit.
Thus price is 37 + 40% i.e. $51.80.
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When the best a monopolist can do to produce an economic profit of zero, this will: (w) shut down in the long run. (x) shut down in the short run. (y) remain in operation in the long run. (z) raise its price to raise profit. Discover Q & A Leading Solution Library Avail More Than 1461382 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1934924 Asked 3,689 Active Tutors 1461382 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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