The table summarizes his operations for the past year. Total sales revenue $590,000 Employee wages $120,000 Materials $350,000 Interest on loan $5,000 Utilities $10,000 Rent $25,000 Total explicit costs $510,000 6. What is Jared's accounting profit? 7. Find Jared's total implicit costs. 8. What was Jared's economic profit last year?

The table summarizes his operations for the past year. Total sales revenue $590,000 Employee wages $120,000 Materials $350,000 Interest on loan $5,000 Utilities $10,000 Rent $25,000 Total explicit costs $510,000 6. What is Jared's accounting profit? 7. Find Jared's total implicit costs. 8. What was Jared's economic profit last year?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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2. The table below shows a car manufacturer's total cost of producing cars. Review the data provided and answer the questions that follow 国 Q TC TVC AVC AFC ATC MCe $500,000 540,000 e 560,000 e 570,000 e 590,000 e 620,000 660,000 e 720,000 800,000 e 920,000 e 1,100,000 2e 4 to 50 6 ge to 10 For each level of output, calculate the total variable cost [TVC], the average variable cost [AVC), the average fixed cost [AFC], the average total cost [ATC], and the marginal cost [MC]. Show the first calculation for each missing column of data. b. What is this manufacturer's fixed cost? Explain how you derived this. Create a single, well-labeled diagram that shows the manufacturer's AVC, ATC, and MC curves. a. С.
2spring22 (1) - Protected View Saved to this PC - Search (Alt+Q) erences Mailings Review View Help der Advanced Threat Protection and it hasn't detected any threats. If you need to edit this file, click enable editing. Enable Editing 1- Refer to the information provided in Table1. The table sets out Sue's Surfboards' total product schedule. Answer the following questions. Table 1 Output (surfboards per week) 50 80 125 185 200 220 230 Labor (workers per week) 1 3. 4 7 Calculate the average product of labor b. Calculate the marginal product of labor Over what output range does Sue's Surfboards enjoy the benefits of increased specialization and the division of labor? a. C. d. Over what output range does Sue's Surfboards Experience diminishing marginal product of labor? 0n workers at $650 a week and its total
A Homework (Ch 08) * Mind Tap - Cengage Learning catic/nb/ui/evo/index.html?deploymentld=58830023220612202193347127562&elSBN=97813376223498&id=9084911198&snapshotld=1937530& Q Search CENGAGE MINDTAP lomework (Ch 08) 5. Deriving the short-run supply curve Consider the perfectly competitive market for halogen lamps. The following graph shows the marginal cost (MC), average total cost (ATC), and average variable cost (AVC) curves for a typical firm in the industry. 80 72 64 56 48 ATCA 40 32 24 16 AVC MCO 8 16 QUANTITY OF OUTPUT (Thousands of lamps) 24 32 40 48 56 64 72 80 14 5 go 19 194 ho. pll fg DII DDI delete home enc $. & * 5 7. 8. 9. num %3D backspace lock { R. V D. PER UNT (Dollars)
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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…
Revenue, Cost MC AC AVC P AR = MR R P. Oufput
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Don't use Chat GPT or Al bot other wise ready for downvote. Do Answer by your own.
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