A. How much is the fixed cost to produce the natural-organic oil? B. How many barrels of natural-organic oil should the firm produce to maximize its profit? C. How much is the price of the natural-organic oil per barrel?

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A: Marginal cost refers to additional cost incurred due to one more unit of output of produced.

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A: A fixed cost(FC) is an expense that doesn't change with an expansion or reduction in the measure of…

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A: Hey, Thank you for the question. According to our policy, we can only answer 1 question per session.…

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A: The correct Option is (D) - All of the above

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A: Fixed costs are amount of dollars expended on fixed factors of production such as land, building,…

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A: As long as the marginal benefit of producing each successive unit is greater than the marginal cost,…

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A: Apple / Google Advertise Don't Advertise 700, 700 900, 600 Don't 600, 900 800, 800

Q: a. What are Caroline’s explicit and implicit costs?  b. What is Caroline’s accounting profit?  What…

A: (Solving the first question).  Answer 1:  a. Explicit costs are those costs which are required to…

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A: Given,

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Q: One more question is,  A profit maximizing firm faces market price of p2. What are their profits?

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

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A: Long run average cost curve is locus of minimum point of the short run average cost curve.

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Q: 6. If the Marginal Cost for a product is found to be MC = 8x + 60, and the Marginal Revenue is given…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…