Knight Company reports the following costs and expenses in May. Factory utilities $15,900 Direct labor $74,100 Depreciation on factory equipment 13,950 Sales salaries 47,000 Depreciation on delivery trucks 3,900 Property taxes on factory building 3,000 Indirect factory labor 49,000 Repairs to office equipment 1,600 Indirect materials 81,300 Factory repairs 2,750 Direct materials used 138,700 Advertising 16,200 Factory manager’s salary 8,500 Office supplies used 2,930

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Your dormitory, griffingate, has appointed you central banker of its economy, which deals in the currency of wizcoins. assume that the velocity of wizcoins in griffingate is constant at 10,000 transactions per year. right now, real gdp is 1,000 wizcoins, and there are 2,000 wizcoins in existence.

Until recently, hamburgers at the city sports arena cost $4.70 each. the food concessionaire sold an average of 13 comma 000 hamburgers on game night. when the price was raised to $5.40, hamburger sales dropped off to an average of 6 comma 000 per night. (a) assuming a linear demand curve, find the price of a hamburger that will maximize the nightly hamburger revenue. (b) if the concessionaire had fixed costs of $1 comma 500 per night and the variable cost is $0.60 per hamburger, find the price of a hamburger that will maximize the nightly hamburger profit.