Calculate Economic profit and Accounting profit from the figures given below for ABC Company. Total revenue $ 500,000 Wages and salaries $ 40,0000 Forgone salary $ 80,000 Interest paid $ 10,000 Forgone rent $ 10,000 Raw materials $ 50,000 Other payments $ 20,000 Forgone interest $ 7,000

Q: Question 2 Any firm's equals ATC q. total revenue B) total cost marginal cost marginal revenue

A: Answer: Total cost: Total cost is the total cost of produtcion. It is calculated by multiplying the…

Q: Competitive Firm Total Total Output Fixed Variable Total (Q) Costs Costs Costs $100.00 $0.00 $100.00…

A: please find the explained answer below.

Q: Assume the following information holds true when MR-MC: P- $500, ATC - $600, and AVC - $450. Which…

A: Average Variable Cost (AVC) refers to the average cost of producing each unit of output in the short…

Q: a Calculate the missing total revenue and marginale Instructions: Enter your answers as whole…

A: Total revenue, which is the full amount of total sales, is calculated by multiplying the total…

Q: A firm's short-run demand curve for a resource is also the firm's: average cost curve of the…

A: Marginal Revenue Product : In simple terms, the marginal revenue product of a resource is the…

Q: Definite revenue. Write the relationship between MR and AR.

A: Revenue: The term revenue is the money that is received by the seller by selling its commodity. For…

Q: QUESTION 49 Exhibit 12-4 Revenue and Cost Data for a Perfectly Competitive Firm Daily Output Total…

A: Since you asked multiple questions, we will solve the first question for you. If you want any…

Q: C) Video Productions sells DVD for $60. The variable cost per DVD is $36, and the fixed costs per…

A: Given:Price of each DVD=$60Variabl cost=$36Fixed cost=$120,000

Q: Case Study C: Frie-O is the newest fast food restaurant to emerge in the United States, Frie-O sells…

A: Perfect Competition refers to the type of market where there are a large number of firms or…

Q: K Click the following icon to view additional information necessary to complete the exericse.…

A: Long-run average total cost (LRATC) refers to the average cost per unit of output in the long run,…

Q: What are total fixed costs for the Zonker Company? $0 $8 $12 $20   2. The marginal cost to the…

A: Total fixed cost (TFC) is that cost which does not change with change in the level of output.…

Q: Max earns a yearly salary of $120,000 per year from his job and $1,000 per year in interest on his…

A: Max's salary from job = $120,000 per yearInterest on savings = $1000If he starts a company, then…

Q: Assume that the firm is in perfect competition and the price is $ 80. Find maximum profit? A) $100…

A: Maximum profit in perfect competition market where Marginal Cost is equal to Price so here we find…

Q: The table below shows the total cost (TC) and marginal cost (MC) for Choco Lovers, a purely…

A: Characteristics of a Purely Competitive(PC) Market:Many sellers and purchasers exist in the…

Q: Assume Fixed cost of $50. •Assume the perfect competition price is $500. Quantity Total 0 1 2 3 4 5…

A: Cost refers to the sum paid to purchase any products or services. In a nutshell, the term "cost"…

Q: Cost and revenue schedule: Please show your calculation for full credit. Output Price…

A: In a monopoly market, there is a single seller with no competition, who sells a unique product with…

Q: The following table presents the expected cost and revenue data for the Tucker Tomato Farm. The…

A: Marginal cost is a change in total cost due to a change in output.  i.e., MC = (change in total cost…

Q: Adidas is one of the high-class sports shoe dealers in Melbourne with the following short run cost…

A: i) the two characteristics of Adidas shoe company are:- it is the Monopoly structure the firm is at…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: Remember that the profit-maximizing condition is  Marginal Revenue equal to the Marginal Cost (MR =…

Q: Adidas is one of the high-class sports shoe dealers in Melbourne with the following short run cost…

A: below is the edited graph

Q: FIGURE S-3. ShortRun Marginal Cost $105 Average Total Cost Average Variable Cost $88 $55- 460 1675…

A: The correct answer is given in the second step.

Q: Q10. Label and complete the following daily cost schedule for Company A as directed by the question…

A: here we calculate the total cost and average variable cost and average total cost and marginal cost…

Q: Look at Table . What would happen to the firm’s profits if the market price increases to $6 per pack…

A: The firm will seek to maximise profits; they do this by producing at the point MC=MR. At at this…

Q: How many of the following will occur with a linear total revenue curve? (i) A linear cost curve (ii)…

A: Total revenue refers to the value of all the goods and services sold in the market. The total…

Q: 0 1 2 3 4 5 B 7 8 6 $60.00 30:00 20.00 15.00 12.00 10.00 857 7.50 6:47 $45:00 42 50 40.00 37:50…

A:

Q: Amos McCoy is currently raising corn on his 100-acre farm and earning an accounting profit of $100…

A: ANS Profit is given by subtracting Total Cost (TC) from Total Revenue (TR). Mathematically it is…

Q: Tirm s tot tal reve equals $30,00 Implicit costs equal $20,00, and explicit costs equal $30,000.…

A: Accounting profit refers net income for a company, that is revenue minus expenses. Accounting profit…

Q: Outline the various methods Tiger Brands can organise for research in purchasing and supply…

A: Research into purchasing and inventory management can be organized at Tiger Brands in a number of…

Q: Average Output Variable Cost SEFER 10 12 14 16 20 Multiple Choice O $4 $5.00 4.00 O$9 $5 4.75 5.75…

A: Perfect competition is a market form with a high number of buyers and a high number of sellers.…

Q: AVC $70 $60 $50 D-MR $40 $30 $20 $10 60 100160 200 250 300360 400 Output This firm would in the…

A: 1. In the given graph  The marginal cost curve represent the additional cost for producing an extra…

Q: 1. A perfectly competitive firm realizes a total revenue of $2500 and a profit of $500. The firm…

A: To calculate the average total cost we need to calculate the number of units produced.

Q: In the graph below, a firm will continue to operate in the short-term with losses in which region:…

A: STEP−1 In the short-term, a firm will continue to operate even if it is making losses, as long as…

Q: Brian lives in New York City and runs a business that sells pianos. In an average year, he receives…

A: The rental income Brian could.....- implicit cost  The wholesale cost for the pianos....- explicit…

Q: Joe runs the Service Division for a car dealership. The overall dealership has profit of $10 million…

A: Profit can be described as the monetary gain or positive difference between the total revenue earned…

Q: Output Total Revenue ($) Total Variable Cost ($) Total Fixed Costs 1 1,000 750 500 2 2,000…

A: Total revenue is the product of price and quantity.  Total cost is the sum of fixed cost and…

Q: (1) Total revenue (TR) (i) Total cost (TC) (ii) Profit (iv) Type of profit is earned by this firm?…

A: Total cost is the total amount incurred by a firm on the factors of production. Total revenue is the…

Q: When Apple Inc. decided to open another branch/store/outlet or presence in a totally different…

A: A market is a platform where buyers and sellers interact to close a trade. It can be a physical…

Q: please answer in text form and in proper format answer with must explanation , calculation for each…

A: Profits can  be calculated as the difference between the total cost and total revenue. Total revenue…