Answer:
$11880
Explanation:
Given that:
In a local Honda Dealership;
Last year, your dealership earned a record profits of $1.5 million
according to the local Chamber of Commerce, your earnings were 10 percent less than either of your competitors.
The Price Elasticity of demand E = - 4.5
Marginal cost of a midsized automobile = $11,000
Let assume that In your market, you compete against two other dealers
From The above given data , the objective is to determine the What price should you charge for a midsized automobile if you expect to maintain your record sales.
So; in order to achieve that ; we consider the scenario of an Oligopoly market by using the markup formula for homogeneous product Cournot Oligopoly which can be represented as:
P = 1.08 × 11000
P = $11880
Hence. the price you should charge for a midsized automobile if you expect to maintain your record sales is $11880
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Answer:
Instructions are below.
Explanation:
Giving the following information:
Model A12:
selling price= $60
variable cost= $43
Model B22:
selling price= $111
variable costs= $79
Model C124:
selling price= $402
variable costs= $309.
Sales mix:
A12= 60%
B22= 27%
C124= 13%.
Fixed costs= $225,789
First, we need to calculate the break-even point in units for the company as a whole:
Break-even point (units)= Total fixed costs / Weighted average contribution margin ratio
Weighted average contribution margin ratio= (weighted average selling price - weighted average unitary variable cost)
Weighted average contribution margin ratio= (0.6*60 + 0.27*111 + 0.13*402) - (0.6*43 + 0.27*79 + 0.13*309)
Weighted average contribution margin ratio= 30.93
Break-even point (units)= 225,789/30.93
Break-even point (units)= 7,300 units
Now, for each product:
Sales mix:
A12= 0.6*7,300= 4,380
B22= 0.27*7,300= 1,971
C124= 0.13*7,300= 949
