O e none of the mentionedCLEAR MY CHOICEionEconomic profits differ from accounting profits becauseO a all of the mentionedO b. the former is calculated by economists and the latter by accountantsout ofOc most firms report economic profits once a year and accounting profits every pay periodO d. none of the mentionedOe many firms own their own capital so accounting profits do not factor this costP Type here to search%23124&7QETAS.C V } BYAlt(5מ אLL11

Economic and accounting profits differ due to the concept of accrual of cost.

Economic profits differ from accounting profits because O a all of the mentioned Ob. the former is calculated by economists and the latter by accountants Oc most firms report economic profits once a year and accounting profits every pay period Od none of the mentioned Oe many firms own their own capital so accounting profits do not factor this cost

Economic profits differ from accounting profits because O a all of the mentioned Ob. the former is calculated by economists and the latter by accountants Oc most firms report economic profits once a year and accounting profits every pay period Od none of the mentioned Oe many firms own their own capital so accounting profits do not factor this cost

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

QUESTION 5 A decreasing Average Cost Function is consistent with O a. Fixed Costs and an increasing Average Variable Cost Function O b. No Fixed Cost and an increasing Average Variable Cost Function Oc Fixed Costs and a Constant Marginal Cost Function Od. No Fixed Costs and a Constant Marginal Cost Function Oe. None of the proposed answers is correct
The N.M. Corporation has exactly the same costs of production as last year except for fixed costs, which are $50,000 this year compared to $30,000 last year. Which of the following statements is false? O The total cost curve will be the same this year as last year. O The fixed cost curve will have the same slope this year as last year. O The variable cost curve will be the same this year as last year. O The marginal cost curve will be the same this year as last year.
Question 14 What does scale of operation refer to, and what does it depend on? O a. It refers to the amount of fixed resources required, and it depends on market size O b. It refers to the number of years the fixed resources will last, and it depends on technology Oc. It refers to the total labor force needed, and it depends on the region of the country Od. It refers to the number of competitors in the market, and it depends on technology
Cost LRAC B A Quantity Figure 1 Long run average cost curve for a firm Figure 1 shows a long run average cost curve for a firm. If the firm increases output from point A to point B this is an example of: Select one: O i. A change in production function O ii. Economies of scale iii. Constant unit cost O iv. Diseconomies of scale
8. Ahmed's Pizza House sells extra-large deluxe pizzas at OMR 9.000 per pizza. The cost of ingredients to make extra-large deluxe pizza is OMR 2.000. Ahmed pays each of his employees OMR 60 per day. He also incurs a fixed cost of OMR 120 per day. Calculate Ahmed's variable cost per day when he produces 50 extra-large deluxe pizzas using two NC- AVC x workers. %3D 10 100
Calculate the Average Total Cost for points A & B. Input (Labor) Output TFC TVC TC MC ATC AVC 4. 50 $125 $15 85 $125 $30 O A-S35 -525.83 O 4:52.80 B-5182 OA-S0.36 B-50.s OAS250 BS147 Question 4 Calculate the Average Variable Cost for points A &B Input (Labor) Output TFC TVC TC MC ATC AVC 4. 50 $125 $15 85 $125 $30 OA52.50 -4147 OAS030 -5035
If you know that average variable cost is at a minimum, then you can deduce that marginal cost is higher than average variable cost. O marginal cost is equal to average variable cost. O marginal cost is lower than average variable cost. none of the available choices are correct. Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.
69 O Completed 17 out of 20 Question 7 of 20 Because P> MR, which equation applies to the value of a firm's marginal product? O VMPL = MRPL O VMPL > MRPL O MRPL = VMPL O VMPL < MRPL LAPTOP LOGIN acer r USERNAME: student PASSWORD: Broward1 TravelMate B F8 F10 F11 95
Nina is a farmer that grows and sells tomatoes. Her total explicit and implicit costs are 950000 per year, and her explicit fixed cost are 340000 per year. Nina could otherwise earn 60000 in her next best alternative lone of business or employment. Each bushel of tomatoes sells for $40. This year, nina sold 25000 bushels of tomatoes. What are ninas average fixed costs, average variable costs, and average total costs of production? Interpret what each of these costs mean for nina. What is ninas economic profit? What is her accounting profit?
The following five individuals have different utility functions over food (good x) and clothing (good y): 1) u₁(x, y) = 3x²y 2) u₂(x, y) = 2√x + y 3) Uz(x, y) = x0.6y0.4 4) u₁(x, y) = x² + y² 1 5) us(x, y) = x + 3y For each of these people: a) Compute their marginal utilities of good x, MUx = Ju(x,y) MU, = ду du(x,y) ax b) Check whether the property of "more is better" is satisfied for both goods? Explain. [Hint: Check whether marginal utilities are positive assuming positive amounts of good x and good y] ƏMUX əx and marginal utility of good y, c) Does the marginal utility of good x diminish, remain constant, or increase as each of the individuals buys more x? Explain. [Hint: There are 2 ways to do it: 1) visually check what happens to the expression of MUx when x increases (does it decrease, keep constant or decrease?); or 2) take the partial derivative of this marginal utility with respect to x, that is ƏMUx .aMUX ƏMUX If 0, the marginal utility of x is increasing in x] d) Does the…
When fixed costs are ignored because they are irrelevant to a business's production decision, they are called O explicit costs. O implicit costs. Osunk costs. O opportunity costs.
No written by hand solution