15) Tanesha sells homemade candles over the Internet. Her annual revenue is 564,000 per year, the explicit costs of her business are $17,000, and the opportunity costs of her business are $22.000. What is her economic protit? A) S17,000 15) B) S25.000 C) S42.000 DI S47.000

15) Tanesha sells homemade candles over the Internet. Her annual revenue is 564,000 per year, the explicit costs of her business are $17,000, and the opportunity costs of her business are $22.000. What is her economic protit? A) S17,000 15) B) S25.000 C) S42.000 DI S47.000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

15) Tanesha sells homemade candles over the Internet. Her annual revenue is $64,000 per year, the
explicit costs of her business are $17,000, and the opportunity costs of her business are $22,000.
What is her economic protit?
A) $17,000
15)
B) $25,000
C) 542.000
D) S47,000

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Provide details/explanations of your solutions,indicate any formulas you are using and clearly show your work.
the figure below, $/Q 174 125 118 80 m 59 MC AVC ATC n 48 40 28 u Q₂ Q3 Q4 Q5 O total variable cost at Q₂ units of output is represented by the area absv (i.e., TVC(Q)area absv) and total fixed cost at Q₂ units of output is represented by the area vsQ₂0 (i.e., TFC(Qs) - area vsQ₂0). total variable cost at Q3 units of output is represented by the area ruQ,0 (i.e., TVC(Q)- area ruQ,0) and total fixed cost at Qs units of output is represented by the area zfnk (i.e., TFC(Qs) - area zfnk). O total cost at Q4 units of output is represented by the area adQ40 (.e., TC(Q) - area adQ40) and total fixed cost at Q4 units of output is represented by the area adgi (i.e.. TFC(Q4) - area adgi). O total variable cost at Q₂ units of output is represented by the area absv (i.e., TVC(Q)- area absv) and total fixed cost at Q₂ units of output is represented by the area vsQ₂0 (ie.. TFC(Qs) - area vsQ,0). total variable cost at Q3 units of output is represented by the area zhQ₂0 (i.e., TVC(Q)area zhQ,0) and…
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