Course dashboardSoru 12SCENARIO 1: You are the owner and the only employee of a company that writes computersoftware that is used by gamblers to collect sports data. Last year you earned a total revenueHenüzcevaplanmadıof $90,000. Your costs for equipment, rent, and supplies were $60,000. To start this business4 üzerindenyou invested an amount of your own capital that could pay you a return of $40,000 a yearişaretlenmişRefer to Scenario 1. Your economic profit last year wasP Soruyu işaretleLütfen birini seçin:O A. - $ 10000O B. $ 30000O C -$ 30000O D.-$ 40000O E$10000SONRAKİ SAYFAÖNCEKİ SAYFA

Economic profit = Total revenue - Implicit costs - Explicit costs.

SCENARIO 1: You are the owner and the only employee of a company that writes computer software that is used by gamblers to collect sports data. Last year you earned a total revenue of $90,000. Your costs for equipment, rent, and supplies were $60,000. To start this business you invested an amount of your own capital that could pay you a return of $40,000 a year Refer to Scenario 1. Your economic profit last year was Lütfen birini seçin: O A.-$ 10000 O B.$ 30000 OC -$ 30000 O D. - $ 40000 O E$ 10000

SCENARIO 1: You are the owner and the only employee of a company that writes computer software that is used by gamblers to collect sports data. Last year you earned a total revenue of $90,000. Your costs for equipment, rent, and supplies were $60,000. To start this business you invested an amount of your own capital that could pay you a return of $40,000 a year Refer to Scenario 1. Your economic profit last year was Lütfen birini seçin: O A.-$ 10000 O B.$ 30000 OC -$ 30000 O D. - $ 40000 O E$ 10000

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 38CTQ: Do you think that the taxicab industry in large cities would be subject to significant economies of...

See similar textbooks

Similar questions

Course dashboard Soru 15 SCENARIO 1 You are the owner and only employee of a company that writes computer Henüz software that is used by gamblers to collect sports data. Last year you earned a total revenue cevaplanmadı of $90,000. Your costs for equipment, rent, and supplies were $60,000. To start this business 4 üzerinden you invested an amount of your own capital that could pay you a return of $40,000 a year. ışaretlenmiş Refer to Scenario 1. During the year your economic costs were P Soruyu işaretle Lütfen birini seçin: O A $30000 OB$130000 O C.S 60000 ODS 40000 O ES 100000 SONRAKİ SAYFA ÖNCEKİ SAYFA 日 O Aramak için buraya yazın
Write a paragraph to explain to your CEO that based on using regression analysis, through using the solver tool of excel, recalculate the optimum units to produced this month is 800 pro 200 mini to have the maximize revenue of $174,400.00. Explain what/why would it be if you make any changes in the units to stay within the constraints that you have it would produce less money.
We have the results from our first Facebook ad campaign. The following table summarizes the results broken down by age and whether the person seeing the add clicked through. Age 40 or under 85 Age more than 40 65 Total Clicked Through 150 Did Not Click 590 260 850 Total 675 325 1000 For our up(combing) (pun intended) campaign, I want to make it as effective as possible, a cut above all other ad campaigns! I'm thinking that since 85 (or 56.7%) of the 150 people who clicked through to our website are age 40 or less, we should focus our ads to only younger people. I'm not great with number though, and since I know you had a stats class in college, I wanted to get your opinion. Should we focus our adds only to those age 40 and under or should we do something else?
Teresa is a hard-working second-year university student. One Thursday, she decides to work nonstop until she has answered 100 practice problems for her physics course. She starts work at 8:00 AM and uses a table to keep track of her progress throughout the day. She notices that as she gets tired, it takes her longer to solve each problem. Time 8:00 AM 9:00 AM 10:00 AM 11:00 AM Noon Total Problems Answered 0 40 70 90 100 Use the table to answer the following questions. The marginal, or additional, gain from Teresa's second hour of work, from 9:00 AM to 10:00 AM, is The marginal gain from Teresa's fourth hour of work, from 11:00 AM to noon, is problems. problems. Later, the teaching assistant in Teresa's physics course gives her some advice. "Based on past experience," the teaching assistant says, "working on 35 problems raises a student's exam score by about the same amount as reading the textbook for 1 hour." For simplicity, assume students always cover the same number of pages during…
Use the following table to ccalculate TVC - keep your calculation for follow up questions: Total Output Total Cost TFC TVC AFC AVC ATC MC 0 $20 10 $40 20 $60 30 $90 40 $120 50 $180 60 $280 a. Total Output Total Cost TVC 0 $20 $0 10 $40 $20 20 $60 $40 30 $90 $70 40 $120 $100 50 $180 $160 60 $280 $260 b. Total Output Total Cost TVC 0 $20 $20 10 $40 $20 20 $60 $40 30 $90 $70 40 $120 $100 50 $180 $160 60 $280 $260 c. Total Output Total Cost TVC 0 $20 $0 10 $40 $40 20 $60 $60 30 $90 $90 40 $120 $120 50 $180 $180 60 $280 $280 d.…
fast please thank you 8.
The manager of the donut shop tells you that hesells donuts for $1 each, and that if he were to makeadditional donuts, based on his current level ofoutput, it would cost him $0.80 per donut. Do yourecommend that the manager increase or decreasethe number of donuts he makes?
Confused on what to do for the graphs
Yverrry is earning $200,000 per year as medical sales representafive. Due to the covid pandemic, she decided to open a small restaurantin the City where she lives. She invested $200,000 of his savings that has been eaming $5,000 interest per year. Since there was vacant space in the area where she lives, she decided to use this lot to put up his restaurant. The lot has been earning $10,000.00 annually as it is beingrented as a parking space for the executives in the nearby Firm. She hired one (1) clerk and 3 helpers who will help him in the restaurant. Water and electricity bills for the year reached $50,000.00. Yverry will be paying the clerk $3,000.00 while the 3 helpers $2,500.00 each monthly. Affer a year of operation, Yverry was able to earn a sales revenue of $800,000.00 Required: Compute for the Yverry's accounting and economic profit.
Need help with this. Please show how to do the graph also. Thank you !
You are currently in a job as a chef in a restaurant earning $100,000 per year. You are considering opening up a restaurant in a building which you currently own. You estimate that, if you wanted to, you could rent out your building for $25,000 per year to another restaurant. Last year, your revenues and expenses from the restaurant were the following: Revenues $400,000Cost of Food $120,000Salaries/Wages $100,000Utilities $25,000Taxes $20,000 What is your accounting profit? Show your calculations What is your economic profit? Show your calculations Assuming that you are indifferent between being a chef or owning a restaurant, should you open up your restaurant? Explain why. Now suppose that instead of owning the building where your restaurant will be located, you had to pay rent of $25,000 per year for the building. Will your answers to parts 1-3 change? Show your calculations. Explain how and why your answers will change or…
Complete the table below: Output TotalCost(RM) Totalvariablecost(RM) Totalfixedcost(RM)Averagefixedcost(RM)Averagetotalcost(RM)Marginalcost (RM) 0 505 16010 20020 25036 33058 40072 48088 580106 700130 820150 980