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- Calculate accounting profit if :- Total revenue = $3000 Explicit cost = $3000Calculate accounting profit given:- Total revenue = $3000 Explicit cost = $3000A special shoe manufacturer ABC Co. has costs of production as follows : Quantity: 0 1 2 3 4 5 6Total Variable Cost ($): 0 50 70 90 140 200 360 Fixed costs are $100 and the price of ABC shoe is $50 (a) The chief financial officer tells the CEO that it’s better to produce only one shoe this month. What could be the reason for this advice by the CFO? What are the firm’s profits at that level of production? Is this the best decision? Explain.
- Total Total Revenue Cost Quantity (TR) (TC) Profit (MR) (MC) 0 0 8 1 8 10 2 16 11 3 24 13 4 32 16 5 40 20 6 48 27 7 56 36 8 64 47 9 72 65 10 80 90 Marginal Marginal Revenue Cost Fill in the table to determine the profit maximizing level of output, price, and profit. The optimal quantity is A/ A (number) units, the optimal price is (number) dollars, which maximizes (number) dollars. This table A profits at displays profit maximization under the (perfect competition / monopolistic competition / oligopoly / monopoly) market structure.(a) Assume that although Marrow firm is presently making accounting profit it is experiencing negative economic profit in its current venture. The owner of the firm does not understand what this means and asks you to explain to him. (b) Massy super store, wishes to increase its total revenue. It offers 30%discount on every item it sells.Group A Group BVolume of sales before the 1.79 million 1.76 million 30% discount Volume of sales after the 1.84 million 1.86 million 30% discount(a) Using the midpoint method, calculate the price elasticities of demand for groupA and group B.(b) If Massy wants to increase its total revenue, which group should it offer the discount to?The explicit costs of the firm is given as $2000 and the total revenue is $7700 Calculate the accounting profit of the firm.
- Text Problem 24-1bc Question Help v Given the information in the table at right, calculate the dry cleaner's marginal revenue (MR) and marginal cost (MC) at each output level. (Your answer should be rounded to the nearest cent.) Price Total Output (Suits Cleaned) Suit ($) (S) Total Costs Revenue (S) per MC ($) MR ($) 8.00 3.00 0.00 1 7.50 6.00 7.50 2 7.00 8.50 14.00 3 6.50 10.50 19.50 4 6.00 11.50 24.00 5 5.50 13.50 27.50 6 5.00 16.00 30.00 4.50 19.00 31.50 8 4.00 24.00 32.00 OOD D IOOD3. The Caribbean airline is making reasonable profit and wants to expand its operation to include a destination in Canada. The following data represents its costs per flight: S 58 800 3 000 Fuel costs Depreciation Insurance Interest Labour Landing charges Other fixed costs 12 000 16 000 20 000 2 000 13 400 (a) State which of the costs are fixed and which are variable in the short run. Fixed Costs Variable Cost (b) If the maximum number of passengers per flight is 400, what is the minimum price per seat that the airline must charge to operate in the short run?connie turn down job offer with insurance company that would have her paid 70,000 per year to start her own photographic business she uses 20,000 of her own saving to help start the business savings that had been providing her a returnn of 1,000 per year. over her first year in business connie collect total revenue of 180,000 and must cover explicit cost of 105,000 during her first year in business connie 's accounting profit is and her economic profit is a.75,000 , -16,000 b.110,000; 4,000 c.110,000; -16,000 d. 75,000; 4,000
- Complete the following table by calculating the contribution to profit and overhead for each of the 10 time periods and prices. Time Period Price Quantity Sold Total Contribution ($) (Million) ($ Million) 1 2,400 0.2 2 2,200 0.2 3 2,000 0.2 4 1,800 0.2 5 1,700 0.2 6 1,600 0.2 7 1,500 0.2 8 1,400 0.2 9 1,300 0.2 10 1,200 0.2 Over the 10 periods, the total contribution to profits and fixed costs from price skimming is million.Break even point analysis 1. A manufacturing business that is involved in manufacturing and selling a single product. The annual fixed expenses to run the business are $15000 and variable expenses are $7.50 per unit. The sale price of your product is $15 per unit. A. Formulate the total revenue, total cost, and profit B. Find the break-even point quantity and revenue. C. Find the number of units to sell if the estimated profit is $50,000 D. Find the total profit if the total units sold is 5000 units. E. Find the units to sell to break-even the fixed expenses. 2. It costs a publishing company 50,000 dollars to make books. The 50,000 is a fixed cost or cost that cannot change. To help the publishing company sell the books, how many books should they sell to break even? 3. A manufacturing company supplies its products to construction job sites. The average monthly fixed cost pee site is $4,500, while each unit cost $35 to produce and selling price is $50 per unit.Determine the…An total revenues, is calculated by subtracting the firm's costs from its O opportunity cost; including economic profit accounting profit; excluding opportunity cost economic profit; excluding opportunity cost accounting profit; including opportunity cost
