Answered step by step
Verified Expert Solution
Question
1 Approved Answer
SupposCreate a e KB Design decides to change its pricing strategy: KB Design now prices to maximize profit margin.I was to add a new column
SupposCreate a e KB Design decides to change its pricing strategy: KB Design now prices to maximize profit margin.I was to add a new column in your spreadsheet showing the profit margin at each output level. This column is labeled as "Profit margin." (Class Book is managerial economics by christopher thomas)
Please check my PROFIT MARGIN
Output/week | Total Variable Cost | Total Fixed Cost | Total Cost | Average Variable Cost | Average Fixed Cost | Average Total Cost | Short-run Marginal Cost | AVC - SMC | ATC - SMC | Price | Total Revenue | Total Marginal Revenue | Total Profit | Profit Margin | New Fixed Cost for Question K | New Total Cost for Question K | New Total Profit for Question K | ||
0 | $- | $3,500 | $3,500 | xx | 0 | 0 | ($3,500) | 7625 | 7625.00 | -7625.00 | |||||||||
10 | $485.30 | $3,500 | $3,985.30 | $48.53 | $350 | $398.53 | $48.00 | $0.53 | $350.53 | 99.50 | 995 | 99.5 | $(2,990.30) | ($39.05) | 7625 | 8110.30 | -7115.30 | ||
20 | $942.40 | $3,500 | $4,442.40 | $47.12 | $175 | $222.12 | $45.00 | $2.12 | $177.12 | 99.00 | 1980 | 98.5 | $(2,462.40) | ($43.87) | 7625 | 8567.40 | -6587.40 | ||
30 | $1,373.10 | $3,500 | $4,873.10 | $45.77 | $117 | $162.44 | $43.00 | $2.77 | $119.44 | 98.50 | 2955 | 97.5 | -1918.1 | ($48.47) | 7625 | 8998.10 | -6043.10 | ||
40 | $1,779.20 | $3,500 | $5,279.20 | $44.48 | $88 | $131.98 | $40.00 | $4.48 | $91.98 | 98.00 | 3920 | 96.5 | -1359.2 | ($52.87) | 7625 | 9404.20 | -5484.20 | ||
50 | $2,162.50 | $3,500 | $5,662.50 | $43.25 | $70 | $113.25 | $38.00 | $5.25 | $75.25 | 97.50 | 4875 | 95.5 | -787.5 | ($57.08) | 7625 | 9787.50 | -4912.50 | ||
60 | $2,524.80 | $3,500 | $6,024.80 | $42.08 | $58 | $100.41 | $36.00 | $6.08 | $64.41 | 97.00 | 5820 | 94.5 | -204.8 | ($61.11) | 7625 | 10149.80 | -4329.80 | ||
70 | $2,867.90 | $3,500 | $6,367.90 | $40.97 | $50 | $90.97 | $34.00 | $6.97 | $56.97 | 96.50 | 6755 | 93.5 | 387.1 | ($64.99) | 7625 | 10492.90 | -3737.90 | ||
80 | $3,193.60 | $3,500 | $6,693.60 | $39.92 | $44 | $83.67 | $32.00 | $7.92 | $51.67 | 96.00 | 7680 | 92.5 | 986.4 | ($68.73) | 7625 | 10818.60 | -3138.60 | ||
90 | $3,503.70 | $3,500 | $7,003.70 | $38.93 | $39 | $77.82 | $31.00 | $7.93 | $46.82 | 95.50 | 8595 | 91.5 | 1591.3 | ($72.34) | 7625 | 11128.70 | -2533.70 | ||
100 | $3,800.00 | $3,500 | $7,300.00 | $38.00 | $35 | $73.00 | $29.00 | $9.00 | $44.00 | 95.00 | 9500 | 90.5 | 2200 | ($75.84) | 7625 | 11425.00 | -1925.00 | ||
110 | $4,084.30 | $3,500 | $7,584.30 | $37.13 | $32 | $68.95 | $28.00 | $9.13 | $40.95 | 94.50 | 10395 | 89.5 | 2810.7 | ($79.26) | 7625 | 11709.30 | -1314.30 | ||
120 | $4,358.40 | $3,500 | $7,858.40 | $36.32 | $29 | $65.49 | $27.00 | $9.32 | $38.49 | 94.00 | 11280 | 88.5 | 3421.6 | ($82.60) | 7625 | 11983.40 | -703.40 | ||
130 | $4,624.10 | $3,500 | $8,124.10 | $35.57 | $27 | $62.49 | $26.00 | $9.57 | $36.49 | 93.50 | 12155 | 87.5 | 4030.9 | ($85.89) | 7625 | 12249.10 | -94.10 | ||
140 | $4,883.20 | $3,500 | $8,383.20 | $34.88 | $25 | $59.88 | $25.00 | $9.88 | $34.88 | 93.00 | 13020 | 86.5 | 4636.8 | ($89.14) | 7625 | 12508.20 | 511.80 | ||
150 | $5,137.50 | $3,500 | $8,637.50 | $34.25 | $23 | $57.58 | $25.00 | $9.25 | $32.58 | 92.50 | 13875 | 85.5 | 5237.5 | ($92.38) | 7625 | 12762.50 | 1112.50 | ||
160 | $5,388.80 | $3,500 | $8,888.80 | $33.68 | $22 | $55.56 | $25.00 | $8.68 | $30.56 | 92.00 | 14720 | 84.5 | 5831.2 | ($95.62) | 7625 | 13013.80 | 1706.20 | ||
170 | $5,638.90 | $3,500 | $9,138.90 | $33.17 | $21 | $53.76 | $25.00 | $8.17 | $28.76 | 91.50 | 15555 | 83.5 | 6416.1 | ($98.88) | 7625 | 13263.90 | 2291.10 | ||
180 | $5,889.60 | $3,500 | $9,389.60 | $32.72 | $19 | $52.16 | $25.00 | $7.72 | $27.16 | 91.00 | 16380 | 82.5 | 6990.4 | ($102.18) | 7625 | 13514.60 | 2865.40 | ||
190 | $6,142.70 | $3,500 | $9,642.70 | $32.33 | $18 | $50.75 | $25.00 | $7.33 | $25.75 | 90.50 | 17195 | 81.5 | 7552.3 | ($105.55) | 7625 | 13767.70 | 3427.30 | ||
200 | $6,400.00 | $3,500 | $9,900.00 | $32.00 | $18 | $49.50 | $25.00 | $7.00 | $24.50 | 90.00 | 18000 | 80.5 | 8100 | ($109.00) | 7625 | 14025.00 | 3975.00 | ||
210 | $6,663.30 | $3,500 | $10,163.30 | $31.73 | $17 | $48.40 | $26.00 | $5.73 | $22.40 | 89.50 | 18795 | 79.5 | 8631.7 | ($112.56) | 7625 | 14288.30 | 4506.70 | ||
220 | $6,934.40 | $3,500 | $10,434.40 | $31.52 | $16 | $47.43 | $27.00 | $4.52 | $20.43 | 89.00 | 19580 | 78.5 | 9145.6 | ($116.24) | 7625 | 14559.40 | 5020.60 | ||
230 | $7,215.10 | $3,500 | $10,715.10 | $31.37 | $15 | $46.59 | $28.00 | $3.37 | $18.59 | 88.50 | 20355 | 77.5 | 9639.9 | ($120.07) | 7625 | 14840.10 | 5514.90 | ||
240 | $7,507.20 | $3,500 | $11,007.20 | $31.28 | $15 | $45.86 | $29.00 | $2.28 | $16.86 | 88.00 | 21120 | 76.5 | 10112.8 | ($124.08) | 7625 | 15132.20 | 5987.80 | ||
250 | $7,812.50 | $3,500 | $11,312.50 | $31.25 | $14 | $45.25 | $30.00 | $1.25 | $15.25 | 87.50 | 21875 | 75.5 | 10562.5 | ($128.29) | 7625 | 15437.50 | 6437.50 | ||
260 | $8,132.80 | $3,500 | $11,632.80 | $31.28 | $13 | $44.74 | $32.00 | $(0.72) | $12.74 | 87.00 | 22620 | 74.5 | 10987.2 | ($132.71) | 7625 | 15757.80 | 6862.20 | ||
270 | $8,469.90 | $3,500 | $11,969.90 | $31.37 | $13 | $44.33 | $33.00 | $(1.63) | $11.33 | 86.50 | 23355 | 73.5 | 11385.1 | ($137.38) | 7625 | 16094.90 | 7260.10 | ||
280 | $8,825.60 | $3,500 | $12,325.60 | $31.52 | $13 | $44.02 | $35.00 | $(3.48) | $9.02 | 86.00 | 24080 | 72.5 | 11754.4 | ($142.32) | 7625 | 16450.60 | 7629.40 | ||
290 | $9,201.70 | $3,500 | $12,701.70 | $31.73 | $12 | $43.80 | $37.00 | $(5.27) | $6.80 | 85.50 | 24795 | 71.5 | 12093.3 | ($147.56) | 7625 | 16826.70 | 7968.30 | ||
300 | $9,600.00 | $3,500 | $13,100.00 | $32.00 | $12 | $43.67 | $39.00 | $(7.00) | $4.67 | 85.00 | 25500 | 70.5 | 12400 | ($153.12) | 7625 | 17225.00 | 8275.00 | ||
310 | $10,022.30 | $3,500 | $13,522.30 | $32.33 | $11 | $43.62 | $42.00 | $(9.67) | $1.62 | 84.50 | 26195 | 69.5 | 12672.7 | ($159.03) | 7625 | 17647.30 | 8547.70 | ||
320 | $10,470.40 | $3,500 | $13,970.40 | $32.72 | $11 | $43.66 | $44.00 | $(11.28) | $(0.34) | 84.00 | 26880 | 68.5 | 12909.6 | ($165.31) | 7625 | 18095.40 | 8784.60 | ||
330 | $10,946.10 | $3,500 | $14,446.10 | $33.17 | $11 | $43.78 | $47.00 | $(13.83) | $(3.22) | 83.50 | 27555 | 67.5 | 13108.9 | ($172.01) | 7625 | 18571.10 | 8983.90 | ||
340 | $11,451.20 | $3,500 | $14,951.20 | $33.68 | $10 | $43.97 | $50.00 | $(16.32) | $(6.03) | 83.00 | 28220 | 66.5 | 13268.8 | ($179.13) | 7625 | 19076.20 | 9143.80 | ||
350 | $11,987.50 | $3,500 | $15,487.50 | $34.25 | $10 | $44.25 | $53.00 | $(18.75) | $(8.75) | 82.50 | 28875 | 65.5 | 13387.5 | ($186.73) | 7625 | 19612.50 | 9262.50 | ||
360 | $12,556.80 | $3,500 | $16,056.80 | $34.88 | $10 | $44.60 | $56.00 | $(21.12) | $(11.40) | 82.00 | 29520 | 64.5 | 13463.2 | ($194.81) | 7625 | 20181.80 | 9338.20 | ||
370 | $13,160.90 | $3,500 | $16,660.90 | $35.57 | $9 | $45.03 | $60.00 | $(24.43) | $(14.97) | 81.50 | 30155 | 63.5 | 13494.1 | ($203.43) | 7625 | 20785.90 | 9369.10 | ||
380 | $13,801.60 | $3,500 | $17,301.60 | $36.32 | $9 | $45.53 | $64.00 | $(27.68) | $(18.47) | 81.00 | 30780 | 62.5 | 13478.4 | ($212.60) | 7625 | 21426.60 | 9353.40 | ||
390 | $14,480.70 | $3,500 | $17,980.70 | $37.13 | $9 | $46.10 | $67.00 | $(29.87) | $(20.90) | 80.50 | 31395 | 61.5 | 13414.3 | ($222.36) | 7625 | 22105.70 | 9289.30 | ||
400 | $15,200.00 | $3,500 | $18,700.00 | $38.00 | $9 | $46.75 | $71.00 | $(33.00) | $(24.25) | 80.00 | 32000 | 60.5 | 13300 | ($232.75) | 7625 | 22825.00 | 9175.00 | ||
410 | $15,961.30 | $3,500 | $19,461.30 | $38.93 | $9 | $47.47 | $76.00 | $(37.07) | $(28.53) | 79.50 | 32595 | 59.5 | 13133.7 | ($243.80) | 7625 | 23586.30 | 9008.70 | ||
420 | $16,766.40 | $3,500 | $20,266.40 | $39.92 | $8 | $48.25 | $80.00 | $(40.08) | $(31.75) | 79.00 | 33180 | 58.5 | 12913.6 | ($255.54) | 7625 | 24391.40 | 8788.60 | ||
430 | $17,617.10 | $3,500 | $21,117.10 | $40.97 | $8 | $49.11 | $85.00 | $(44.03) | $(35.89) | 78.50 | 33755 | 57.5 | 12637.9 | ($268.01) | 7625 | 25242.10 | 8512.90 | ||
440 | $18,515.20 | $3,500 | $22,015.20 | $42.08 | $8 | $50.03 | $89.00 | $(46.92) | $(38.97) | 78.00 | 34320 | 56.5 | 12304.8 | ($281.25) | 7625 | 26140.20 | 8179.80 | ||
450 | $19,462.50 | $3,500 | $22,962.50 | $43.25 | $8 | $51.03 | $94.00 | $(50.75) | $(42.97) | 77.50 | 34875 | 55.5 | 11912.5 | ($295.29) | 7625 | 27087.50 | 7787.50 | ||
460 | $20,460.80 | $3,500 | $23,960.80 | $44.48 | $8 | $52.09 | $99.00 | $(54.52) | $(46.91) | 77.00 | 35420 | 54.5 | 11459.2 | ($310.18) | 7625 | 28085.80 | 7334.20 | ||
470 | $21,511.90 | $3,500 | $25,011.90 | $45.77 | $7 | $53.22 | $105.00 | $(59.23) | $(51.78) | 76.50 | 35955 | 53.5 | 10943.1 | ($325.95) | 7625 | 29136.90 | 6818.10 | ||
480 | $22,617.60 | $3,500 | $26,117.60 | $47.12 | $7 | $54.41 | $110.00 | $(62.88) | $(55.59) | 76.00 | 36480 | 52.5 | 10362.4 | ($342.65) | 7625 | 30242.60 | 6237.40 | ||
490 | $23,779.70 | $3,500 | $27,279.70 | $48.53 | $7 | $55.67 | $116.00 | $(67.47) | $(60.33) | 75.50 | 36995 | 51.5 | 9715.3 | ($360.32) | 7625 | 31404.70 | 5590.30 | ||
500 | $25,000.00 | $3,500 | $28,500.00 | $50.00 | $7 | $57.00 | $122.00 | $(72.00) | $(65.00) | 75.00 | 37500 | 50.5 | 9000 | ($379.00) | 7625 | 32625.00 | 4875.00 | ||
$400,563 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started