Scenario 5.1A dentist's practice is organized as a sole proprietorship. Last year the dentist's totarevenue was 5320,000and totalcosts were5250.000.The dentist left a Job paving$112,000 ayear to start the sole proprietorship,Question: According to the information in Scenario 5.1, how much accounting profitdid the dentist make last year?O $320.000O S70.000O $208.000O $112.000

Accounting profit is a company's net income, which is defined as revenue minus costs. Accounting…

Scenario 5.1 A dentist's practice is organized as a sole proprietorship. Last year the dentist's total revenue was $320.000 and total costs were $250,000. The dentist left a job paying $112,000 a year to start the sole proprietorship. Question: According to the information in Scenario 5.1, how much accounting profit did the dentist make last year? O $320,000 O $70,000 O $208.000 O $112,000

Scenario 5.1 A dentist's practice is organized as a sole proprietorship. Last year the dentist's total revenue was $320.000 and total costs were $250,000. The dentist left a job paying $112,000 a year to start the sole proprietorship. Question: According to the information in Scenario 5.1, how much accounting profit did the dentist make last year? O $320,000 O $70,000 O $208.000 O $112,000

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

4. Complete the short run cost table below for the Wanda Widget Company, where Q is the number of widgets, TFC is Total Fixed Cost, TVC is Total Variable Cost, TC is Total Cost, MC is marginal cost, AFC is Average Fixed Cost, AVC is Average Variable Cost, and ATC is Average Total Cost. TFC TVC TC MC AFC AVC ATC 1 $100 $50 2 $30 $40 $270 5 $70
The figure at right illustrates short-run cost curves for a firm. Based on this figure, which of the following is true? O A. A is the total cost curve, B is the marginal cost curve, and C is the total fixed cost curve. O B. A is the average variable cost curve, B is the total fixed cost curve, and C is the average total cost curve. O C. A is the total cost curve, B is the total variable cost curve, and C is the total fixed cost curve. O D. A is the total cost curve, B is the total variable cost curve, and C is the marginal cost curve. O E. A is the average variable cost curve, B is the average total cost curve, and C is the marginal cost curve. Quantity с
Completed 0 out of 30 Resources Submit All Question 16 of 30 The graph shows the costs, revenue, and demand facing a A profit-maximizing monopolistic competitor monopolistically competitive firm. Refer to the graph to answer the three questions. 50- Marginal cost 40- B 30 (5) 20-C Average cost The area covered by rectangle CDFE is the firm's ID 10- Demand 0- total cost. 10 20 30 40 50 60 70 80 90 100 1i0 -10- Marginal revenue total revenue. Quantity O profit. O None of the above. The area covered by rectangle A BDC is the firm's total cost. 8:19 P 46°F A E 4) 12/15/2 a Price ($)
A5.
Which of the following statements is correct? OA. Accounting profit is typically larger than economic profit. O B. Accounting profit equals the firm's revenues minus all of its costs, implicit and explicit. OC. Economic profit equals the firm's revenues minus its explicit costs O D. All of the above
2
Marginal cost is average variable cost when O a. equal to; average variable cost is minimized. O b. greater than; average fixed cost is minimized O c. equal to; average total cost is minimized O d. less than; total cost is maximized If Mark produces five pairs of earrings, his total costs are Number of TVC MC AVC TFC TC Earnings 100 1 50 2 3 46.67 4 300 5 270 O a. $320. O b. $370. O c. $400. O d. $360.
i need in words not handwritten
Q38 and Q39
Please help!
4.
Answer please