Amanda's Silver Company Produces a Unique Item with the Following

question 68

Essay

Amanda's Silver Company produces a unique item with the following information:
$\begin{array}{ll}\text { Sales price } & \$ 40 \text { per uni } \\\text { Variable costs } & \$ 10 \text { per uni } \\\text { Fixed costs } & \$ 15000 \\\text { Units produced and sold } & 2000\end{array}$
Required: Calculate the following based on the above information:
A. Net incame
B. Contribution margin per unit
C. Contribution marpin ratio
D. If Amanda's 5 ells 100 more additional urits, by what amount will net income increase?
E. If Amanda's has an additional \$200] in sales, by what anount will net income increase?

Distinguish between conditioned and unconditioned stimuli and responses.

Explain the process of extinction and spontaneous recovery in classical conditioning.

Understand the significance of timing and order of stimulus presentation in classical conditioning.

Identify Ivan Pavlov as a key figure in the discovery and study of classical conditioning.

---

Definitions:

Long Run

A period in which all factors of production and costs are variable, allowing firms the flexibility to adjust all inputs.

Monopolistically Competitive

A market structure where many firms sell products that are similar, but not identical, allowing for significant price and product differentiation.

Normal Profits

The level of profit needed for a company to remain competitive in the market, covering its opportunity costs.

Long Run

The time period in which all factors of production can be varied, but technology remains constant.