A product is currently made in a process-focused shop, where fixed costs are $9,000 per year and variable cost is $50 per unit. The firm sells the product for $200 per unit
What is the break-even point for this operation? What is the profit (or loss) on a demand of 200 units per year?
BEP = 60 units; TR = $40,000, TC = $19,000, therefore Profit = $21,000.
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A music store has 8 male and 12 female employees. Suppose one employee is selected at random and the employee's gender is observed. List the sample points for this experiment, and assign probabilities to the sample points
A) {8, 12}; P(8 ) = .5 and P(12 ) = .6 B) {male, female}; P(male) = .8 and P(female) = .12 C) {male, female}; P(male) = .4 and P(female) = .6 D) {8, 12}; P(8 ) = .8 and P(12 ) = .12
Congress reacts to judicial decisions that interpret the tax law in different ways. When it approves of a decision, Congress may act to amend the Code to incorporate the holding. When it disapproves, Congress may amend the Code to nullify its effect. Give an example of each one of these congressional reactions