Manufacturing companies usually have two types of costs.
(a) Fixed costs: sometimes called overhead: are costs that are not related to the number of items manufactured. Fixed costs include things like rent: a base level of utilities: and a base level of salaries and must be paid even if the company does not make any products.
(b) Variable costs depend on the number of items manufactured. Variable costs include things like parts and raw materials for the products: higher utilities: and higher salaries.
As a manufacturing company increases the number of items it produces, the fixed costs do not change, but the variable costs increase. One company manufactures high-end racing bicycles. The monthly fixed costs are $2140. The total cost to manufacture 21 bikes is $13480.
Assume that total cost, C, is linearly related to the number of bicycles, x, that the company manufactures.
(A) The cost function is:
(B) The total cost to manufacture 47 bikes is $
(C) The cost to produce each additional bike is $.

Aprice ceiling is “binding” if the price ceiling is set below the equilibrium price. suppose that the equilibrium price is $5. if a price ceiling is set at $6, this will not affect the market in any way since $5 remains a legally allowable price (since $5 < $6). a price ceiling of $6 is called a “non-binding” price ceiling. on the other hand, if the price ceiling is set at $4, the price ceiling is “binding” because the natural equilibrium price is $5 but that is no longer allowed. what happens when there is a binding price ceiling? at a price below the equilibrium price, quantity demanded exceeds quantity supplied. there is a shortage. normally, price increases eliminate shortages by increasing quantity supplied and decreasing quantity demanded. in this case, however, price increases are not allowed past the price ceiling. we therefore predict that the observed market price will be right at the price ceiling and there will be a permanent shortage. the observed quantity bought and sold will be dictated by the quantity supplied at the price ceiling. although consumers would like to buy more, there are no more units for sale

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Wilson center is a private not-for-profit voluntary health and welfare entity. during 2017, it received unrestricted pledges of $638,000, 65 percent of which were payable in 2017, with the remainder payable in 2018 (for use in 2018). officials estimate that 14 percent of all pledges will be uncollectible. a. how much should wilson center report as contribution revenue for 2017? b. in addition, a local social worker, earning $20 per hour working for the state government, contributed 600 hours of time to wilson center at no charge. without these donated services, the organization would have hired an additional staff person. how should wilson center record the contributed service?