问题如下图：
选项：
A. 
B. 
C. 
解释：
你好，可以计算出DOL，可以简单的说一下ABC选项的意思么，谢谢
发亮_品职助教 · 2018年10月31日
同学你好！
这道题的考点是考察Degree of operating leverage (DOL)的计算和理解！以及Operating Breakeven Points的理解。
A选项就是考察Operating Breakeven Points。
A选项说产量是25million的时候，能有Positive Operating Income。那就先算一下Operating Breakeven Points临界点的产量是多少，如果产量在临界点以下，那就是Negative Operating Income；临界点以上就是Positive Operating Income；临界点恰好就是使得Operating Income为零的产量。
价格是100，Variable Cost是65，所以每销售一个贡献（100-65）=35的收入；这个是我们学的（Per Unit Contribution Margin）
然后Fixed Cost是1.05billion，那么算算刚好覆盖Fixed costs的产量是：1.05 billion / 35 = 30,000,000;
所以临界的产量是：30million；A选项说的25million时，不能覆盖Fixed Cost，不能产生Positive Operating Income.
B，C两个选项其实考点都是一样的，考察DOL的计算和理解；
其中B选项主要是考察DOL的理解，不用计算，DOL有公式如下：
分母上会减去Fixed Cost （FC）；如果减去的Fixed Cost越多（分母越小），那么算出来的DOL越大。
B选项是说，如果在原来的Fixed cost 1.05 billion的基础上，Fixed cost增加10%，他说Operating Leverage会降低；
显然他说反了，Fixed Cost增加使得DOL增加；
C选项同理，计算出来了DOL=4，代表着如果销售量增加1%时，Operating Income增加4%；
C选项是说，如果销售量在40million的基础上，增加5%，那么Operating Income增加20%；显然是按我们算出来DOL=4计算的，所以C正确。
章元森 · 2018年12月23日
发亮老师的解答非常透彻易懂，感谢感谢。
NO.PZ2016021705000040 问题如下 The Fulcrum Company proces corative swivel platforms for home televisions. If Fulcrum proces 40 million units, it estimates thit csell them for $100 each. Variable proction costs are $65 per unit anfixeproction costs are $1.05 billion. Whiof the following statements is most accurate? Holng all else constant, the Fulcrum Company woul A.generate positive operating income if unit sales were 25 million. B.have less operating leverage if fixeproction costs were 10 percent greater th$1.05 billion. C.generate 20 percent more operating income if unit sales were 5 percent greater th40 million. is correct.Because L is 4, if unit sales increase 5 percent, Fulcrum’s operating earnings are expecteto increase 4 × 5% = 20%. The calculation for L is:L=40 million×(100−65)[40 million×(100−65)]−1.05 billion=1.40.35=4L=\frac{40\ million\times(100-65)}{[40\ million\times(100-65)]-1.05\ billion}=\frac{1.4}{0.35}=4L=[40 million×(100−65)]−1.05 billion40 million×(100−65)=0.351.4=4 L= ( 40million )( $100−$65 ) [ ( 40million )( $100−$65 ) ]−$1.05billion = $1.400billion $1.400billion−$1.05billion = $1.4 $0.35 =4 我咋知道它是让我算L的
NO.PZ2016021705000040问题如下The Fulcrum Company proces corative swivel platforms for home televisions. If Fulcrum proces 40 million units, it estimates thit csell them for $100 each. Variable proction costs are $65 per unit anfixeproction costs are $1.05 billion. Whiof the following statements is most accurate? Holng all else constant, the Fulcrum Company woul A.generate positive operating income if unit sales were 25 million.B.have less operating leverage if fixeproction costs were 10 percent greater th$1.05 billion.C.generate 20 percent more operating income if unit sales were 5 percent greater th40 million. is correct.Because L is 4, if unit sales increase 5 percent, Fulcrum’s operating earnings are expecteto increase 4 × 5% = 20%. The calculation for L is:L=40 million×(100−65)[40 million×(100−65)]−1.05 billion=1.40.35=4L=\frac{40\ million\times(100-65)}{[40\ million\times(100-65)]-1.05\ billion}=\frac{1.4}{0.35}=4L=[40 million×(100−65)]−1.05 billion40 million×(100−65)=0.351.4=4 L= ( 40million )( $100−$65 ) [ ( 40million )( $100−$65 ) ]−$1.05billion = $1.400billion $1.400billion−$1.05billion = $1.4 $0.35 =4 老师麻烦一下C 。Q增加5%变成42，带入计算式L计算出来得3.5。跟40带入计算L得4相比反而小了呀。怎么会是greater20%呀？
NO.PZ2016021705000040 问题如下 The Fulcrum Company proces corative swivel platforms for home televisions. If Fulcrum proces 40 million units, it estimates thit csell them for $100 each. Variable proction costs are $65 per unit anfixeproction costs are $1.05 billion. Whiof the following statements is most accurate? Holng all else constant, the Fulcrum Company woul A.generate positive operating income if unit sales were 25 million. B.have less operating leverage if fixeproction costs were 10 percent greater th$1.05 billion. C.generate 20 percent more operating income if unit sales were 5 percent greater th40 million. is correct.Because L is 4, if unit sales increase 5 percent, Fulcrum’s operating earnings are expecteto increase 4 × 5% = 20%. The calculation for L is:L=40 million×(100−65)[40 million×(100−65)]−1.05 billion=1.40.35=4L=\frac{40\ million\times(100-65)}{[40\ million\times(100-65)]-1.05\ billion}=\frac{1.4}{0.35}=4L=[40 million×(100−65)]−1.05 billion40 million×(100−65)=0.351.4=4 L= ( 40million )( $100−$65 ) [ ( 40million )( $100−$65 ) ]−$1.05billion = $1.400billion $1.400billion−$1.05billion = $1.4 $0.35 =4 题中说TFC增大，L确实变小了啊。这个哪里不对呢？
NO.PZ2016021705000040 问题如下 The Fulcrum Company proces corative swivel platforms for home televisions. If Fulcrum proces 40 million units, it estimates thit csell them for $100 each. Variable proction costs are $65 per unit anfixeproction costs are $1.05 billion. Whiof the following statements is most accurate? Holng all else constant, the Fulcrum Company woul A.generate positive operating income if unit sales were 25 million. B.have less operating leverage if fixeproction costs were 10 percent greater th$1.05 billion. C.generate 20 percent more operating income if unit sales were 5 percent greater th40 million. is correct.Because L is 4, if unit sales increase 5 percent, Fulcrum’s operating earnings are expecteto increase 4 × 5% = 20%. The calculation for L is:L=40 million×(100−65)[40 million×(100−65)]−1.05 billion=1.40.35=4L=\frac{40\ million\times(100-65)}{[40\ million\times(100-65)]-1.05\ billion}=\frac{1.4}{0.35}=4L=[40 million×(100−65)]−1.05 billion40 million×(100−65)=0.351.4=4 L= ( 40million )( $100−$65 ) [ ( 40million )( $100−$65 ) ]−$1.05billion = $1.400billion $1.400billion−$1.05billion = $1.4 $0.35 =4 Ap*q - tvc - tfc = （100 - 65）*25，000，000 - 1，050，000，000= - 175，000，000 这样吗
NO.PZ2016021705000040 问题如下 The Fulcrum Company proces corative swivel platforms for home televisions. If Fulcrum proces 40 million units, it estimates thit csell them for $100 each. Variable proction costs are $65 per unit anfixeproction costs are $1.05 billion. Whiof the following statements is most accurate? Holng all else constant, the Fulcrum Company woul A.generate positive operating income if unit sales were 25 million. B.have less operating leverage if fixeproction costs were 10 percent greater th$1.05 billion. C.generate 20 percent more operating income if unit sales were 5 percent greater th40 million. is correct.Because L is 4, if unit sales increase 5 percent, Fulcrum’s operating earnings are expecteto increase 4 × 5% = 20%. The calculation for L is:L=40 million×(100−65)[40 million×(100−65)]−1.05 billion=1.40.35=4L=\frac{40\ million\times(100-65)}{[40\ million\times(100-65)]-1.05\ billion}=\frac{1.4}{0.35}=4L=[40 million×(100−65)]−1.05 billion40 million×(100−65)=0.351.4=4 L= ( 40million )( $100−$65 ) [ ( 40million )( $100−$65 ) ]−$1.05billion = $1.400billion $1.400billion−$1.05billion = $1.4 $0.35 =4 A 计算 Q（P-VC）≠ 25million 成立 直接不选