Richardson Travel offers helicopter service from suburban towns to John F. Kennedy International Airport in New York City. Each of its 8 helicopters makes between 1,200 and 1,700 round-trips per year. The records indicate that a helicopter that has made 1,200 round-trips in the year incurs an average operating cost of $900 per round-trip, and one that has made 1,700 round-trips in the year incurs an average operating cost of $700 per round-trip.

1. Using the high-low method, estimate the linear relationship y=a + bX, where y is the total annual operating cost of a helicopter and X is the number of round-trips it makes to JFK airport during the year.

2. Give examples of costs that would be included in a and in b?

3. If RamsayRamsay Travel expects each helicopter to make, onaverage, 1,200 round-trips in the coming year, what should its estimated operating budget for the helicopter fleet be?

Afirm produces a product in a competitive industry and has a total cost function (tc) of tc(q) = 60 + 10q + 2q2 and a marginal cost function (mc) of mc(q) = 10 + 4q. at the given market price (p) of $20, the firm is producing 5.00 units of output. is the firm maximizing profit? no what quantity of output should the firm produce in the long run? the firm should produce unit s) of output. (enter your response as an integer.)

Miko willingly admits that she is not an accountant by training. she is concerned that her balance sheet might not be correct. she has provided you with the following additional information. 1. the boat actually belongs to miko, not to skysong, inc.. however, because she thinks she might take customers out on the boat occasionally, she decided to list it as an asset of the company. to be consistent, she also listed as a liability of the corporation her personal loan that she took out at the bank to buy the boat. 2. the inventory was originally purchased for $27,500, but due to a surge in demand miko now thinks she could sell it for $39,600. she thought it would be best to record it at $39,600. 3. included in the accounts receivable balance is $11,000 that miko loaned to her brother 5 years ago. miko included this in the receivables of skysong, inc. so she wouldn’t forget that her brother owes her money. (b) provide a corrected balance sheet for skysong, inc.. (hint: to get the balance sheet to balance, adjust stockholders’ equity.) (list assets in order of liquidity.)

A. j. was a newly hired attorney for idle time gaming, inc. even though he reported directly to the president of the company, a. j. noticed that the president always had time to converse with the director of sales, calling on him to get a pulse on legal/regulatory issues that, as the company attorney, a. j. could have probably handled. a. j. also noted that the hr manager’s administrative assistant was the go-to person for a number of things that would make life easier at work. a. j. was recognizing the culture at idle time gaming.