BBM102_TMA3 - Semester 1 6WVQT 2 7XWRU 3 Section A (60...

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Unformatted text preview: Semester 1 6WVQT 2 7XWRU 3 Section A (60 marks) Quantitative Questions Answer ALL the questions. Please ensure that all workings are shown to get the maximum marks. Question 1 (a) What is her total revenue, if Kelsey sells 300 glasses of lemonade at RM0.50 each? [2] (b) What is her total revenue if Amanda sells 200 glasses of lemonade at RM0.50 each? [2] (c) Kirsten sells 300 glasses of lemonade at RM0.50 each. Her total costs are RM125. How much is her profit? [3] (d) Zoe sells 200 glasses of lemonade at RM0.50 each. Her total costs are RM25. How much is her profit? [3] (e) A certain firm manufactures and sells computer chips. Last year it sold 2 million chips at a price of RM10 per chip. What is the total revenue for this firm last year? [2] (f) XYZ Corporation produced 300 units of output but sold only 275 of the units it produced. The average cost of production for each unit of output produced was RM100. Each of the 275 units sold was sold for a price of RM95. How much is the total profit for the corporation? [3] 4 Question 2 (a) Refer to the table below for the preceding questions. Quantity Total Revenue 0 RM0 1 RM7 2 RM14 3 RM21 4 RM28 (i) What is the market price for a firm operating in a competitive market? [2] (ii) What is the marginal revenue for this firm? [1] (iii) What is the average revenue for this firm? [1] (b) Refer to the table below for the preceding questions. 5 Quantity Price 0 RM13 1 RM13 2 RM13 3 RM13 4 RM13 5 RM13 6 RM13 7 RM13 8 RM13 9 RM13 (i) Over which range of output is average revenue equal to price?...
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This note was uploaded on 02/15/2011 for the course FIN 355 taught by Professor Tang during the Spring '10 term at Aachen University of Applied Sciences.

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BBM102_TMA3 - Semester 1 6WVQT 2 7XWRU 3 Section A (60...

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