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A: Abiola, a programmer, earned $35,000 in 2015, but in 2016, he began to manufacture body boards. He…
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A: Marginal cost is the additional cost of producing an additional unit of output.
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A: Marginal cost refers to additional cost that is incurred by pricing one more unit of a good.
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A: Variable cost can be calculated by using the following formula:
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Q: calculate the profit at the production level.
A: Profit is the difference between Total Revenue and Total Cost. The assumption is the total cost…
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A: Average product indicates the average number of output produced by each unit of input or each…
Q: Define profit? What are the maximum profits this firm can earn? SHOW WORK
A: Total revenue can be calculated by using the following method as follows: When the price is $2 and…
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Q: Explain the situation in the market when a cost of grouper fingers is $7 per plate
A: When Price = $7, Quantity demanded (Qd) = 1,400 Quantity supplied (Qs) = 1,700
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A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
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A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Match the term below to it's formula definition: total product (TF (Click for List) TVC+ Q AP…
A: Production means goods and services are produced with the use of inputs and technology. It means the…
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