What is the cost revenue? Explain with example?

Q: how do you draw a firm's supply cure, using marginal curve, average cost, and marginal revenue…

A: A supply curve is a graphical representation in economics that shows the relationship between the…

Q: A

A: Businesses employ the microeconomics idea of profit maximisation to determine prices, output, and…

Q: Output TFC TVC 1 2 3 4 5 4 20 20 TC TC AFC AVC ATC MC 5 11 ??? 5 Refer to the following table. What…

A: Determine then TVC at 2nd output TVC at 2nd output = TC - TFC = 11 - 4 = 7Based on the given MC for…

Q: Define the economic efficiency. Explain in detail.

A: When every scarce resource in an economy is utilized and divided among producers and consumers in a…

Q: The equilibrium rent on office space has just increased by $500/month. Compare the effects on…

A: The profit is the excess revenue made by the firm which can be calculated after deducting the cost…

Q: snip

A: Pure goods, for instance, magazines and books, are those that reflect just a commodity. Pure public…

Q: It is common for people trying to lose weight to notice that the first 10 pounds are much easier to…

A: Marginal cost is the change in total cost, per unit change in output.

Q: how does the production theory and concepts affect revenue

A: Production is the process of transformation of inputs into output with use of services of  factors…

Q: The value of marginal revenue is $35 and the value of marginal cost is $30 Is the firm maximizing…

A: # The values of marginal revenue and the marginal cost helps us gain the idea whether the firm is…

Q: To find the firm’s profits from the sales figures, assume that the price is $30, that the marginal…

A: Apple / Google Advertise Don't Advertise 700, 700 900, 600 Don't 600, 900 800, 800

Q: Based on the graph provided  i. What is Freda’s marginal cost for each cookie? ii. What is Freda’s…

A: Marginal Opportunity Cost :  Marginal Opportunity Cost may be defined as that amount of a good…

Q: The total benefit and total cost of a one- week vacation in a year for Fatima is given by the…

A: As per the details mentioned in the above table the missing boxes has been filed with the applicable…

Q: Answering all questions compulsory...

A: Step 1:As shown in the graph, the firm producing the mountain bikes is competitive. So, it will…

Q: 2. SCHOOL SPIRIT As president of Student Council, Brandy is getting T-shirts made for a pep rally.…

A: The average cost (AC) is the total cost (TC) of producing a certain number of units of a product,…

Q: "Costs do not affect the market price" is this statement right or wrong? Show your work

A: Answer: According to a prior research of price determination in the market age, production expenses…

Q: How does the shape of the producer's supply function reflect price elasticity ? Does cost analysis…

A: The producer’s supply curve showing the price elasticity in the long and short run can be understood…

Q: What is the difference between Economic Profit and Accounting profit?

A: Explicit Cost is the cost paid to factors of production that are hired from outsiders. Implicit Cost…

Q: Example 9 Recall that the total revenue function is the price per unit times the number of units…

A: Marginal revenue (MR) pertains to the extra income obtained by selling an additional unit of a…

Q: What is profit

A: Profit = Revenue - costs

Q: How do you define 'profit

A: The main objective of the firm in whether competitive or imperfect competition market is Profit…

Q: You are a football enthusiast and love watching the football matches to the extent that you are…

A: Consumer surplus is the difference between the amount a consumer is willing to pay for a good or…

Q: Which expression is another way of saying "marginal benefit"? Total benefit Profit Extra benefit…

A: Marginal Benefit is the additional benefit received when an extra unit of output is sold. For…

Q: Laurasia has identified the following goods as its market basket. Here are the prices of those goods…

A: The term O.C. describes the value of the next best alternative forgone when a decision is made. It…

Q: 3. Suppose that ABC company plans to build a subway train to provide better alternatives for…

A: Efficient level of output is said to  be the point deviating from which consumer surplus cannot be…

Q: .3 R and B Railroad decided to reduce their fares to see if it would help their business. They…

A: Given, Reduction in ticket price = 25% Increase in revenue = $325,000 per month to $332,000

Q: When will a business shut-down in the short-run?

A: Short-run: - it is a short time period in which some factors of production are variable and some are…

Q: What adjustments should be anticipated in the long run and how would you calculate the new optimal…

A: Perfectly competitive market is one type of market in which many buyers and sellers are there and…

Q: Use the table to find the required value:  Price $32 Quantity 400,000 Explicit Costs $3,500,000…

A: The economic cost is the sum of explicit cost and implicit cost.

Q: Use the graph to determine the extemal marginal cost of a producing a honey bun Market for Honey…

A: Equilibrium is where demand equals supply.  And Socially optimal outcome is where the demand equals…

Q: A subsidy is defined as O a payment that must be made to the government whenever a good or service…

A: Answer: D ( a payment to either the buyer or seller of a good or service, usually on a per-unit…

Q: In the diagram below, profit is maximized at point ( give a short reason for the answer if possible)…

A: In economics, the profit is the net revenue received by the firm after deducting the total cost of…