Anthony quit his job where he was earning an annual salary of $48,000 to open his own business.  Annually, he will pay $18,000 for rent, $120,000 for wages, $36,000 for raw materials.  If he receives annual revenue of $230,000, then his accounting profit will be _____ and his economic profit will be _____.   a negative; negative b negative; positive c positive; negative d positive; positive

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A: The proportional change in output (goods or services) owing to changes in the inputs of production…

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A: please find the answer below.

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A: Explicit Costs are those costs that are directly observed like the cost involved in hiring labor or…

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A: Short-run costs are the costs to a firm of producing different levels of output, with fixed and…

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Q: Please provide the correct answer. Thank you!

A: Explicit costs are clear, measurable expenses involving direct monetary transactions, such as rent…

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A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

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A: The profit is the difference between the total revenue and total cost of production. The explicit…

Q: Modified True or False: State whether each statement is true or false. If the statement is false,…

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

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A: A production company, house, studio, or team is a corporation that provides the physical…

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A: Marginal cost is the additional cost incurred with an additional unit of output produced.

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Q: . Which statement must be false? a) A firm with constant returns to scale in production will not…

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A: "Explicit costs are direct expenses incurred by the business in the process of production of…

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Q: Suppose that a firm produces 100 units a month and sells them all for $5 each. The explict costs of…

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A:

Q: ** 11.5 Baker Mfg. Inc. (see Table 11.9) wishes to compare its inventory turnover to those of…

A: Management of Inventory is one of the most vital part for any firm to handle. As to manage inventory…

Q: Taylor used to work as a yoga instructor at the local gym earning $27,000 a year. Taylor quit that…

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Q: If the demand and supply curve for cell phones is given by: D = 80 - 4P, S = 40 + 6P In a market…

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A:

Q: Use the table below to answer the next three questions. The below table displays the production…

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A: Ans in step 2

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A: Accounting profit is the net income for a company, which is revenue minus expenses. Economic profit…

Q: Part II Case study 20') 1. The SEC filed a complaint in federal court Thursday against Logitech's…

A: Ans in step 2

Q: The concept of Diminishing/Decreasing Marginal Returns is one of the core economic principles, and…

A: When talking about diminishing or decreasing marginal returns, it can be said that it is an economic…

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Q: (Use for Questions 1 - 3): The Burr Corporation's total cost function is TC 2004Q+2Q2 МС - 4+40 АС…

A: The correct alternative for the aforementioned question is C.

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Q: You own a farm that requires spending of $93,318 to generate $275,393 per year. You discover that…

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