Microeconomics
11th Edition
ISBN: 9781260507140
Author: David C. Colander
Publisher: McGraw Hill Education
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Question
Chapter 12, Problem 4QAP
(a)
To determine
Some example of firms, which reduce their own accounting costs.
(b)
To determine
Explain the implication for this policy.
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Chapter 12 Solutions
Microeconomics
Ch. 12.1 - Prob. 1QCh. 12.1 - Prob. 2QCh. 12.1 - Prob. 3QCh. 12.1 - Prob. 4QCh. 12.1 - Prob. 5QCh. 12.1 - Prob. 6QCh. 12.1 - Prob. 7QCh. 12.1 - Prob. 8QCh. 12.1 - Prob. 9QCh. 12.1 - Prob. 10Q
Ch. 12.A - Prob. 1QECh. 12.A - Prob. 2QECh. 12.A - Prob. 3QECh. 12.A - Prob. 4QECh. 12.A - Prob. 5QECh. 12.A - Prob. 6QECh. 12.A - Prob. 7QECh. 12 - Prob. 1QECh. 12 - Prob. 2QECh. 12 - Prob. 3QECh. 12 - Prob. 4QECh. 12 - Prob. 5QECh. 12 - Prob. 6QECh. 12 - Prob. 7QECh. 12 - Prob. 8QECh. 12 - Prob. 9QECh. 12 - Prob. 10QECh. 12 - Prob. 11QECh. 12 - Prob. 12QECh. 12 - Prob. 13QECh. 12 - Prob. 14QECh. 12 - Prob. 15QECh. 12 - Prob. 16QECh. 12 - Prob. 17QECh. 12 - Prob. 1QAPCh. 12 - Prob. 2QAPCh. 12 - Prob. 3QAPCh. 12 - Prob. 4QAPCh. 12 - Prob. 5QAPCh. 12 - Prob. 1IPCh. 12 - Prob. 2IPCh. 12 - Prob. 3IPCh. 12 - Prob. 4IPCh. 12 - Prob. 5IPCh. 12 - Prob. 6IP
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- Consider the concepts of accounting profit and economic profit. Suppose you are a consultant and you are meeting with a business owner who is trying to decide whether to keep that business open or open a business in a different industry. Discuss the differences between accounting profit and economic profit and why it should matters in this circumstance.arrow_forwardWhat is explicit cost in business. Kindly explain it properly.arrow_forwardIn two or three complete sentences, describe how production volume influences a company's fixed costs and how production volume influences a company's variable costs.arrow_forward
- what is the distinction between economic and accounting profitarrow_forwardDefine and explain the differences between accounting profit and economic profit.arrow_forwardThe table below presents the production quantity, total revenue, and total cost of a company in its production process. Using the Excel program, you make a graph that represents the total income and total cost. Determines the level of economic gain or loss for eadch production level. Identifies the point where the gain is maximized. Identifies which of the four market structures studied this example belongs to. Explain your answer in a paragraph of at least five sentences. Quantities in production Total income Total cost 0. 0. 27.23 1 36 55.69 21 72 81.68 3. 108 105.19 144 123.75 180 141.08 216 155.93 252 174.49 8. 288 198.00 9. 324 226.48 10 360 259.88 396 303.19 11 12 432 371.25 13 468 445.50 504 536.25 14 15 540 605.00 OFocus 5:48 AM ds English (United States) ) G ESP 2/23/202 4. 5.arrow_forward
- i need the answer quicklyarrow_forwardQ3. If a point lies on the curve this means the company is being efficient. If a point lies inside the curve, this tells the company what? They are being over efficient They are not efficient It is impossible None of the above Answer ____ Explain your answer:arrow_forwardDo firms really calculate marginal cost and marginal revenue to find the profit-maximizing output? If you examine the accounting records of most small businesses, you will be hard pressed to find explicit calculations of marginal cost and marginal revenue. So, why do economists develop rather elaborate, formal models of profit maximization when no one seems to do what we say they do?arrow_forward
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