The following income statement is provided for ramirez company in 2013: sales revenue (1,500 units × $19.00 per unit) $28,500 cost of goods sold (variable; 1,500 units × $7.00 per unit) (10,500) cost of goods sold (fixed) (3,000) gross margin 15,000 administrative salaries (5,000) depreciation (3,000) supplies (1,500 units × $1.00 per unit) net income $5,500 what amount was the company's contribution margin? (do not round intermediate calculations.)
a. $16,500
b. $5,500
c. $18,000
d. $15,000

Suppose a firm faces a fixed price of output, 푝푝= 1200. the firm hires workers from a union at a daily wage, 푤푤, to produce output according to the production function 푞푞= 2퐸퐸12. there are 225 workers in the union. any union worker who does not work for this firm is guaranteed to find nonunion employment at a wage of $96 per day. a.what is the firm’s labor demand function? b.if the firm is allowed to choose 푤푤, but then the union decides how many workers to provide (up to 225) at that wage, what wage will the firm set? how many workers will the union provide? what is the firm’s output and profit? what is the total income of the 225 union workers? c.now suppose that the union sets the wage, but the firm decides how many workers to hire at that wage (up to 225). what wage will the union set to maximize the total income of all 225 workers? how many workers will the firm hire? what is the firm’s output and profit? what is the total income of the 225 union workers? [hint: to maximize total income of union, take the first order condition with respect to w and set equal to 0.]

Afinancing project has an initial cash inflow of $42,000 and cash flows of −$15,600, −$22,200, and −$18,000 for years 1 to 3, respectively. the required rate of return is 13 percent. what is the internal rate of return? should the project be accepted?

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