Q: 10. If the total cost function for a product is given by: TC - 1500 + 3Q - 10 Q² + Q° And if the…
A: Given: Total cost function is: TC=1500+5Q-10Q2+Q3
Q: For a juice shop the accounting profit is $780 and the explicit cost is $300 Calculate the total…
A: here we calculate the Total revenue by using the accounting profit and explicit cost so the…
Q: Kevin quits his computer programming job, where he was earning a salary of $60,000 per year, to…
A: Given the give up salary = $60000 Rent = $24000 Salary paid to himself = $40000 Rent = 0 Other…
Q: Gomez runs a small pottery firm. He hires one helper at $12000 per year, pays annual rent of $5000…
A: Accounting profit is the net profit of a firm which is total revenue minus explicit costs. Economic…
Q: If company A manufactures t-shirts and sells them to retailers for US$9.80 each. It has fixed costs…
A: The term “total revenue” is equal to the multiplicative value of price and quantity sold by the…
Q: Distinguish between implicit and explicit costs. How is it possible to have positive accounting…
A: Any cost that has already occurred but is not shown or reported as a distinct item is referred to as…
Q: 14.The demand function for a new product is p(x) = - 2x + 7 , where p is the selling price of the…
A: Profit is the difference between total revenue and total cost. Total revenue is the product of price…
Q: Total Total Average Variable Product Total Fixed Variable Average Average Total Costs Marginal Costs…
A: Total fixed cost (TFC) remains constant as it is independent of quantity whereas, total variable…
Q: Total revenue minus explicit and implicit costs equals which of the following? excess profits O…
A: The total amount of income being generated by a company through the sale of its goods and services…
Q: What is the difference between economic costs and accounting costs? Explain it in your own words and…
A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…
Q: In a company, amount of total fixed costs is 6000 TL Variable cost per unit is 10 TL. Selling price…
A: The number of additional units required to pay the cost of a marketing campaign or other sort of…
Q: The revenue cost statement for a popular grocery store owned and operated by John Mathew is…
A: Accounting profit and total revenue are positively related to each other. It means as total revenue…
Q: Accounting profit = ? Total revenue = 8304 Explicit cost = 7231
A: Basically in the question, Total revenue value is = 8304 Explicit cost = 7231 Value of accounting…
Q: derivative of the firm's profit function is F′(x) = −0.03x2 + 3x - 100, where x ≥ 0 is the output…
A: Profit is the difference between Total cost a nd total revenue . And in this case the marginal…
Q: Superior Metals Company has seen its sales volume decline over the last few years as the result of…
A: Fixed cost = $250000 Variable costs = $5 Selling price = $10 Increase in production = 10% Reduced…
Q: 6. A company produces and sells a product and fixed costs of the company are 8500000 Baisa and…
A: 1000 Baisa = 1 Omani Rial (RO) So, 8500000 Baisa = RO.85000 Given, total fixed cost = RO. 8500 Total…
Q: Accounting profit is $1500 and the explicit cost is $450 Calculate the value of total revenue
A: please find below the calculation.
Q: 70. Total costs in the short-term are classified into fixed costs and variable costs. Which one of…
A: Total cost includes all the costs incurred for producing the product.
Q: If explicit costs is $300 and total revenue is $1000 Calculate the accounting profit
A: according to the above given question, we are given that;- Explicit costs = $300 Total revenue =…
Q: Define the term Operating costs?
A: Operating costs are day-to-day expenses associated with maintaining and running a business.
Q: Revenue and Cost The total revenue function for LED TVs is given by R = 1050x dollars, and the total…
A: Given: Revenue function R = 1050x dollars, Tota cost function for the TVs isC = 10,000 + 30x + x2
Q: Calculate Total revenue given that accounting profit is $340 and the explicit cost is $600
A: The data presented in the question above is:- Accounting profit = $340 Explicit cost = $600 Total…
Q: Which of the following expenses are reported on the income statement when they are incurred?…
A: Income Statement refers to the financial statement of the company which shows the company's income…
Q: The variable cost to make a certain product is $73 per unit. Research indicates that the lowest…
A:
Q: Calculate Accounting profit if total revenue is $23,000 and explicit cost is $16,000
A: According to the above given question, the information given is:- Total revenue = $23,000 Explicit…
Q: Mason Company has two manufacturing departments-Machining and Assembly. The company considers all of…
A: Hey champ,Welcome to this platform. Here you will get the answer with better quality in minimum…
Q: Enack Company sells a Potato Chip product that has a constant annual de f chips. Each bag costs ABC…
A: *Answer:
Q: Calculate accounting profit given:- Total revenue = $3000 Explicit cost = $3000
A: Answer: Accounting profit: accounting profit refers to the difference between the total revenue and…
Q: e Party Connection prepares complete party kits for various types of celebrations. It is currently…
A: Order request is for 25,000 Total Overhead cost = 12500 x 0.25 + 12500 x 0.5 = 3125 + 6250 =…
Q: The profit associated with the production and sale of a product is the difference between the…
A: (Note: Since this question has multiple parts, the first three have been solved. Please resubmit the…
Q: ostco sells a 74 Ib wheel of Parmigiano Reggiano cheese for $849. It costs them $640 to produce each…
A: The Revenue is known as what the firm earn by selling the product. The cost is defined as what the…
Q: 1-16 Ray Bond sells handcrafted yard decorations at county fairs. The variable cost to make these is…
A: The production level at which the costs are equal to the revenues for a product is known as the…
Q: 8. If average variablecost is $74 and total fixed cost is $100 at 5 units of output, thenaverage…
A: here we can calculate average total cost as follow
Q: Normal profits occur when Select one: a. total revenues are greater than explicit and implicit…
A: Normal Profit exists when the difference between a company's total revenue and combined explicit and…
Q: ESTIMATE THE AMOUNT OF INPUT TO MAXIMIZE THE PROFIT WHEN MFC (2) = MVP (0.92)
A: Profit: It refers to the revenue or extra income of the firm. The more the profit the firm is…
Q: A company handles an apartment building with 50 units. Experience has shown that if the rent for…
A: To maximize profit, the company needs to ensure that the marginal revenue of selling one more…
Q: Find the value of explicit cost of the firm if the revenue generated is $8000 and the accounting…
A: The values given are:- Total revenue = $8000 And accounting profit = $5500 We can calculate the…
Q: What can you say about negative and positive gross margin in sensitivity analysis
A: An organization may claim a negative gross profit margin for a multitude of reasons in the…
Q: Which of the following statements is correct? A. Accounting profit is typically larger than economic…
A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…
Q: What type of cost is included in economic costs, but not included in accounting costs? a. Explicit…
A: Accounting cost includes all the explicit cost. In other words, all the payment made by the business…
Q: If accounting profits are $6000 and explicit cost are $2200 Calculate total revenue
A: The information being given is:- Accounting profit = $6000 Explicit cost = $2200 Total revenue = ?
Q: Give an example of the Equivalent Annual Operating Cost?
A: Equivalent Annual operating cost is an annual cost of operating cost.
Q: Find the level of the accounting profit Explicit cost is given as = $ 130 Total revenue = $ 190
A: Generally in the given question Explicit cost value is = $130 Total revenue value is = $190…
Q: For firm A, the revenue generated for the month of July is $36,000 and the explicit cost is $22,000…
A: The information being given is:- Total revenue for firm = $36,000 Explicit cost = $22,000…
Q: Problem One: The fixed cost for a company is 1200 OMR and the variable cost is 2 OMR per 100 unit.…
A: Total cost = Fixed cost + Variable cost
Q: a)A short run total cost function of company is given below: TC=1500+225Q-15Q²+Q³•where TC is total…
A: TC = 1500 +225 Q - 15Q2 + Q3 MC = ∆TC / ∆Q
Q: .Accounting costs and explicit costs are the same. a. True b. False
A: # Explicit cost are a part of company's general ledger and such costs are always recorded for…
Q: Calculate the total revenue of the firm when it is given that the accounting profit is $600 and the…
A: We are provided with the information:- Accounting profit = $600 Explicit cost = $240 We need to find…
Calculate accounting profit if :-
Total revenue = $3000
Explicit cost = $3000
Step by step
Solved in 2 steps
- The figure shows graphs of the total cost function and the total revenue function for a commodity. (Assume cost and revenue are measured in dollars.) 500 400 300 200 100 میرا 10 20 30 (a) Label each function correctly. function A -Select- function B -Select- (b) Determine the fixed costs. (c) Locate the break-even point. A B 40 50 60 Determine the number of units sold to break even. units (d) Estimate the marginal cost MC and marginal revenue MR. MC = MR-Calculate accounting profit given:- Total revenue = $3000 Explicit cost = $3000Calculate profits given:- Total revenue = $10,000 Total cost = $7700
- based on the information in the table what is marla's profit margin? total revenue-$1,400total cost- $900average cost- $7fixed cost-$700quantity-200Output Variable Total AVC AFC ATC MC (boxes) Cost Cost $0 $10 1 $20 $15 3 $69 $3.33 $23 4. $2.50 $27 $39Cost Analysis A company manufactures fuel tanks for cars. The total weekly cost (in dollars) of producing X fuel tanks is given by.. C(x) = 10000 +90x - 0.05x² %3D Find the exact cost of producing the 501st item. (Round to the nearest 2 decimal places, if needed) HINT: Steps to fiınd actual or exact (cost/revenue/profit) 1. Find the cost of x = 5003B 2. Then find the cost of x = 501%3; 3. Then subtract ASUS 3 近
- The cost, in dollars, of producing x yards of a certain fabric is C(x) = 900 + 12x - 0.1x² +0.0005x³ and the company finds that if it sells x yards, it can charge p(x) = 27-0.00021x dollars per yard for the fabric. (a) Graph the cost and revenue functions. y 8000 6000 4000 2000 y 15 000 10 000 5000 R C 100 R =² C 100 200 200 300 300 X 400 400 X Use the graph to estimate the production level for maximum profit. 283.092 x yards y 15 000 10 000 5000 y 15 000 10 000 5000 R 100 R C 100 200 200 (b) Use calculus to find the production level for maximum profit. (Round your answer to two decimal places.) 186.63 yards 300 300 400 400 Xshow calc\table[[\table[[Output], [per], [Month]], Price, \table[[Total], [Revenue]], Total Cost,Total Profit, \table [[Marginal], [ Revenue** Output per Month Price 0 $1,000 100 Total Revenue $0 1,000 100,000 Total Cost Total Profit Marginal Revenue* Average Revenue* Profit per Cost Total Cost Unit (Price - ATC) $60,000 -$60,000 90,000 10,000 $1,000 $300 $900 $100 200 1,000 200,000 130,000 70,000 1,000 400 650 350 300 1,000 300,000 180,000 120,000 1,000 500 600 400 400 1,000 400,000 240,000 160,000 1,000 600 600 400 500 1,000 500,000 320,000 180,000 1,000 800 640 360 600 1,000 600,000 420,000 180,000 1,000 1,000 700 300 700 1,000 700,000 546,000 154,000 1,000 1,260 780 220 800 1,000 800,000 720,000 80,000 1,000 1,740 900 100 900 1,000 900,000 919,800 -19,800 1,000 1,998 1,022 -22 "Note that output levels are calibrated in hundreds in this example; that's why we have divided the change in total costs and revenues from one output level to another by 100 to calculate marginal revenue and marginal…
