The following is cost information for the Creamy Crisp Donut Company LL Entrepreneur's potential earnings as a salaried worker $50,000 Annual lease on building = $22,000 Annual revenue from operations $380,000 Payments to workers = $120,000 Utilities (electricity, water, disposal) costs = $8,000 Value of entrepreneur's talent in the next best entrepreneurial activity = $80,000 Entrepreneur's forgone interest on personal funds used to finance the business =$6,000 Creamy Crisp's total revenues exceed its total costs, including a normal profit, by Multiple Choice

Q: Diminishing marginal returns occur when: Group of answer choices the size of the plant is increased…

A: Diminishing marginal returns occur when the addition of one more unit of a variable input leads to a…

Q: If the firm hires 5 employee, total fixed costs equals

A: Total fixed cost is the cost which is even exits when output is zero. So at zero output we have the…

Q: 5) If Hilltop Turf Farm's total cost of producing acres of sod is TC = 0.202 +120Q + 5,000, the…

A: Marginal cost (or MC in short) reveals the extra cost incurred by the business unit when it…

Q: This is a graph of our firm’s costs. Label the lines on the graph using the following labels:…

A: Cost of production is those costs which are incurred by the manufacturer for manufacturing the…

Q: firm uses 23 employee-hours, it will produce, _units of output and experience total cost of

A:

Q: Felix's only variable cost. Felix has a fixed cost of $80 per day and pays each of his workers $120…

A: The concept of MC can be explained as a cost that shows the type of cost that an individual,…

Q: Decreasing marginal returns occur in the short run as more labor is hired to work in fixed sized…

A: As more and more labors are hired, the marginal returns starts to fall.

Q: An employee from the Mixing department worked 36 hours during the week. His salary is $12.00 per…

A: In cost accounting, costs are classified into different categories for budgeting and financial…

Q: Aaron has been spending five nights studying for his math tests and his current grade in the course…

A: Marginal cost:Marginal cost is the additional unit that is added to the whole value. It is…

Q: What is a production function? Response option group It is the production technology It is the…

A: A production function highlights the relationship between quantities of physical inputs and…

Q: The graph shows the cost curves are they profit maximizing firm in a competitive market. If the…

A: In a competitive market, there are a large number of sellers and buyers who have full information…

Q: Choose a current news item about a company enduring a difficult situation such as layoffs,…

A: Two incredible powers are transforming the very nature of work: robotization and ever fiercer…

Q: ABC is a small business producing instructional modules for disabled children in public schools. The…

A: Since you have posted a question with multiple sub-parts, we will provide the solution to only the…

Q: A firm has the following total revenue and total cost schedules: TR = $2Q. TC = $5,500 + $1.3Q.…

A: Given:- TR=$2Q TC=$5500+$1.3Q To calculate:- Break even output level and profit at 8600 unit sale=?…

Q: Which factor of production is almost never included in a firm's fixed costs? Land Labor Capital All…

A: Land, labor, and capital are considered factors of production.

Q: Is the asset's cost basis used in calculating the gain or loss to the firm?

A: Answer - Asset cost basis - It the value of asset which is used for tax purposes .This help to…

Q: (a) Calculate the marginal (physical) product of the third worker. (b) Define the law of diminishing…

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

Q: Scenario: Assume that there are five apartments located at different distances from an individual's…

A: There are 5 apartments to choose from .Based on their location they are as follows-1 ) Very Close…

Q: Accounting and economic cost Economic cost

A: Accounting Cost = Accounting costs measure the financial value of taking an action. They are the…

Q: Marginal analysis (a.k.a. thinking at the margin) Multiple selects     assumes dimishing marginal…

A: Marginal analysis is the process of comparing additional benefits accrued to the additional costs…

Q: Opportunity costs are an important consideration for managers when deciding whether to accept…

A: Cost refers to the sum of money a corporation spends on making or producing products or services.…

Q: A technology firm has determined that their lowest total cost production technology is $880. If…

A: The lowest total cost of production technology is $880 The machines cost is $100 The company has…

Q: Labor Quantity Fixed Cost 1 2 3 4 5 6 16 40 60 72 80 84 $160 $160 $160 $160 $160 $160 Different…

A: Economic costs involve not just the accounting costs but also the opportunity cost of making one…

Q: question 22-23. Number of Workers Hired 4 55 6 7 8 Question 22 Diminishing marginal returns set in…

A: Diminishing marginal returns, also known as the law of diminishing returns, is an economic principle…

Q: In the, between what two levels of output does one first observe the law of diminishing returns?…

A: Law of diminishing returns states that when more and more units are added in the process of…

Q: If the total cost of 20 units of a product is $20, and the total cost of 21 units is $21, then from…

A: Marginal cost is defined as the change in total production resulting from producing an extra unit of…

Q: A manufacturing company makes two types of water skis, a trick ski and a slalom ski. The relevant…

A: This question involves using linear programming to determine the optimal product mix for a…

Q: True/False Increase in total product always indicates that there are increasing returns to a…

A: # An idea of the total output which a firm is able to produce is reffered to be as total product.…

Q: Vipsana's Gyros House sells gyros. She incurs a fixed cost of $120 per day. Vipsana pays $60 per day…

A: Fixed costs(FC) are expenses that do not alter regardless of the production(Q) level. These are…