An entrepreneur wants to open a hotel in Puerto Escondido, Oaxaca. Two key variables that should be anticipated to estimate the number of rooms that maximize future profit should be? Total costs and marginal costs Average costs and marginal costs Total income and marginal income Total revenue and total costs

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A: Total cost is the sum of variable and fixed costs. TC = TVC + TFC

Q: if the profit- maximising quantity is 120kg，what is the answer？

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Q: what refers to actual losses as well as unrealized profit?

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Accounting and Economic Profit analysis

One comes across the concept of Profits in the context of business and in analyzing the results of business activity. Profits of a business can be accounting profits, and they can also be economic profits. So how does one understand the concept of accounting versus economic profits?