Suppose a bakery sells cookies in Orlando that are so special and delicious that it becomes a monopoly in the local market. The market demand for Orlando as a whole for the bakery’s cookies is:

Q = 300 − 62.5p

or written in inverse form:

p = 4.8 − 0.016Q

where p is the price per cookie and Q is the number of cookies sold per day.

The bakery discovers that it has two groups of customers: senior citizens and non-senior citizens.* The inverse demand for each group:

p = 5 − 0.02QNon-Senior Citizens

p = 4 − 0.08QSeniors

Assume the cost of producing each cookie is $1 (i.e., marginal cost and average cost is $1).

*Note that the market demand is just the sum of the demands of the two groups.

Assuming the bakery is permitted to charge different prices to seniors and non-seniors, what price will it sell to non-seniors? Provide the answer to the nearest cent (0.01).

Melisa's record of transactions concerning part X for the month of September was as follows. April 11 1 (balance on hand) 100 @ 4 400 @ 300 @ 200@5.35 18 26 Purchases 30 Sales $5.00 April 5 300 5.10 12 200 5.30 600 @ 200 @ 5.60 5.80 27 800 28 150 Required: a. Compute the inventory at April 30 on each of the following bases. Assume that perpetual inventory records are kept in units only. (Carry unit costs to the nearest cent.) 1. Specific identification; ending inventory is comprised of 100 units from beginning inventory and 250 units from the April 26 purchase. 2. First-in, first-out (FIFO). 3. Average-cost. b. If the perpetual inventory record is kept in dollars, and costs are computed at the time of each withdrawal, what amount would be shown as ending inventory in 1, 2, and 3 above? Explain the result! (Carry average unit costs to four decimal places, and total costs to two decimal places.) Please make a complete solution in Excel and give the formula way of the solution, so that I can understand the solution that you give. Thanks