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![Costs, P
$5
P = $2
O Loss of $90
O Profit of $90
MC
30
In the above perfectly competitive firm what is the total profitability?
Breakeven point where profit is zero
O total cost of 60
ATC
-MR](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F77c44739-4585-4f99-8356-269523b379b0%2F1aa6181a-8db6-4daf-b2fb-feac82c8010d%2Fi2e3tli_processed.jpeg&w=3840&q=75)
![Costs, P
$5
P = $2
$150
$200
MC
$300
O $1500
ATC
30
In the above perfectly competitive firm what is the total revenue?
MR
Q](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F77c44739-4585-4f99-8356-269523b379b0%2F1aa6181a-8db6-4daf-b2fb-feac82c8010d%2Fgm0wlc_processed.jpeg&w=3840&q=75)
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- Asapa. ABC Company produces 100 pendants per day. The total fixed cost for the plant is $5000 and the total variable cost is $15000 per day. Calculate the average fixed cost, average variable cost, average total cost and total cost at the current output level. b. 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 $7000ABC Company produces 100 pendants per day. The total fixed cost for the plant is $5000 and the total variable cost is $15000 per day. Calculate the average fixed cost, average variable cost, average total cost and total cost at the current output level. b. Calculate Economic profit and Accounting profit from the figures given below for ABC а. 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
- 5. In multiproduct situations, when sales mix shifts toward the product with the highest contribution margin, then: Breakeven quantity will decrease. O Operating income will decrease. O Total contribution margin will decrease. O Total revenues will decrease.K Total revenue at the profit-maximizing level of output is OA $1,200 OB. $2,500 OC. $4,800 OD, $6,000. Revenue and cost (dollars per unit) $20 11 10 200 250 300 ATC AVC Quantity23 A West Coast refinery used the following stocks of oil in a production run of gasoline. The respective costs of these stocks are shown in the adjacent column. Barrels Unit cost Light Arabian crude oil 9,880 $79 High-sulfur Alaskan oil 49,810 55 Methyl alcohol from corn 1,420 85 Texas medium weight crude 19,050 65 The average cost per barrel is, a $62.08 b $60.87 c $59.67 d $58.50
- Output 0 1 2 3 4 5 6 All of the following are correct, except that the firm has Multiple Choice Total Cost $ 80 160 240 320 400 480 560 O constant marginal cost. O economies of scale. an average fixed cost of $20 at 4 units of output. Ofixed costs of $80.COST PER UNIT LRATC OTX Y Z OUTPUT According to the diagram above, output OY represents the firm's: Select one: O a. market potential O b. break-even point O c. minimum physical product O d. technical optimum plant sizeЕОС 13.5B Morgan took $400 000 out of their savings account to start an ice cream stand. The savings account paid 5% interest. In the first year, Morgan sold 12,000 batches of ice cream at a price of $3 each, and incurred costs of $12,000 which involved outlays of money. What was Morgan's economic profit in the first year?
- A special shoe manufacturer ABC Co. has costs of production as follows : Quantity: 0 1 2 3 4 5 6Total Variable Cost ($): 0 50 70 90 140 200 360 Fixed costs are $100 and the price of ABC shoe is $50 (a) The chief financial officer tells the CEO that it’s better to produce only one shoe this month. What could be the reason for this advice by the CFO? What are the firm’s profits at that level of production? Is this the best decision? Explain.An total revenues, is calculated by subtracting the firm's costs from its O opportunity cost; including economic profit accounting profit; excluding opportunity cost economic profit; excluding opportunity cost accounting profit; including opportunity costVariable Output 1 O $200 O $250 TVC O $500 400 700 2 3 4 1400 Use the above table and assume fixed costs of $1000 33. At an output of 4, AFC is: 1000 TC AFC O $1000 O Cannot be determined AVC ATC Marginal Cost
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