Describe and explain fully the type of economic profit that Is earned if price exceeds average cost. In Deep detail with at least 3 pages long
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Q: no handwritten notes!
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A: Total revenue, also referred to as gross revenue, is the income generated by a business from selling…
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A: The short run is defined as the period in which at least one of the factors used is fixed and others…
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Q: Market structure
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A: Given,
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A: Given MARR= 12%initial cost = 90,000expected loss each year is 5000O and M=0Repair for 3rd…
Q: rate of technical substitution
A: The Marginal Rate of Technical Substitution (MRTS) is an idea in economics that measures the charge…
Q: Marginal and Total Costs Quantity Total Marginal (Q) Cost Cost (TC) (MC) 0 15 1 25 2 70 30 3 4 40 5…
A: Total cost refers to the cost of production a firm incurs at different levels of output.Marginal…
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A: Factors of production are the resources used in the production process to create goods and services.…
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Q: Exercise 6.8. Consider the following extensive-form game with cardinal payoffs: 1 1 000 2 R M 3 1…
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A: A monopoly, as described by Irving Fisher, is a market with the "absence of competition", creating a…
Q: The following table models the supply of a specialty coffee: \table[[Price per Pound, Pounds…
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Q: 1. Sketching curves. Suppose that the production technology for our class restaurant changes (as…
A: Solution is given below Explanation:Approach to solving the question: Detailed explanation:…
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A: Long run aggregate supply is total supply of goods and services in an economy at a certain price…
Q: 8. Ina sells her homegrown eggplant at a roadside stand. Assume that the industry is perfectly…
A: Perfect competition is a market where there are large number of firms and each firm is producing a…
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Q: Acad business that is considering its first project. The required equipment investment by the…
A: NPW (Net Present Worth) is another term for Net Present Value (NPV). It's a measure used in finance…
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- You are the product development manager of a company that is going to launch a new detergent against its competitors Ariel, Surf excel and Brite. How will you segment your product mention the classification & explain.How do we calculate the total amount of pagecant costs, price profit, profit make up and selling costsMarty used to be a bartender making $5,000 a year but he quit in order to become a clown that does shows at birthday parties. His clown car and costumes cost $7,000 and he did a lot of shows in the past year, making $13,000 in revenue but paying $2,000 in variable costs for balloons, gas, etc. Marty asked an accountant and an economist to calculate his profit. What did they report?
- Give typing answer with explanation and conclusion to all partsResearch an instance of an actual firm that has been engaged in cost-cutting measures. What actions specifically are being taken and considered? Has the cost-cutting been effective? Cite the source of your information.List and describe the 4 Ps marketing mix for a tangible product from your own.
- Write down the problem the car manufacturer solves to find the levels of 'K' and 'L' that minimize cost. What two equations are used to solve it?Direction: Read the situation below. The complete the task that follows. You have got a rice store in your home. According to the news, Typhoon Ondoy will bring heavy rain to almost every part of Southern Luzon, including your location. At first, the rain seemed normal, but it's just not going to stop. There are fewer customers right now. With this rain, there may not be any more customers soon. It might flood in a bit, but if you close the store, you're not going to be able to feed your three children. So, you've decided not to close the store. There's news from your neighbors that your residence is already overflowing, and in a few minutes your store and the rest of the community will be flooded. Your family has been instructed by barangay officials to evacuate the public elementary school in the vicinity of School. Your family has been instructed by the Barangay officials to evacuate to a public elementary school located in your municipality. 1. Identify all the elements exposed to…Question 20 of 20 Reggie owns and operates a cheese shop in the village of Somerset. Although Reggie has a degree in mechanical engineering and could easily go to work for his brother's company earning $76000 a year, his true passion is for cheese. Consider the list of Reggie's revenue and expenses from last year. Please use the information provided to answer the questions. Revenue from 2010 $90000 Rent $18000 Equipment $6000 Supplies $3000 What is Reggie's accounting profit? What is Reggie's economic profit? -$13000 $63000 $3000 O -$13000 -$63000 $3000 $63000 -$63000
