8) Economic costs include costs, while accounting costs include Only implicit; both explicit and implicit O Both explicit and implicit; only implicit O Both explicit and implicit; only explicit Only explicit; both explicit and implicit costs.
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- 1. What are the difference between Direct Method Cash flow withthat of indirect method cash flow, apply them in a given example1. Throughout this course, we have solved many optimization or profit maximizing problems. a. State the rules used for unconstrained (regular) optimization and for constrained optimization. b. Using your own words, explain the rationale behind each stated rule as if you were explaining them to someone who has not yet completed this course: c. What doe economist mean when they use the term marginal? d. State how to compute Profit and explain how account profit and economic profit provides different insights to a firm’s current operations.Set all variables to their baseline values.9) At what level of output is average cost a minimum?10) What is average cost (AC) at that output?11) What is marginal cost (MC) at that output? BASELINE COSTS TC (BASE) $175,113 AC (BASE) $43.78 MC (BASE) $64.12 NEW COSTS TC (NEW) $175,113 AC (NEW) $43.78 MC (NEW) $64.12 POLICY VARIABLES Output 4,000 Fixed cost 25,000 Tax per unit $0.00 AC(NEW)-MC(NEW) -$20.34
- the right answer is A and C and i wonder why. pls explain by details, thx!1. Suppose Firm A has a budget of P1.5 million pesos in outsourcinginputs, labor and machines, that would lend support in its 1 yearoperation. Suppose further that the cost of labor for 1 year is P150,000and for a machine is P200,000. If it decides to hire 6 laborers, howmany machines would it accept?Answer the following questions on the basis of this information for a single fifirm: total cost of capital = $1000; price paid for labor = $12 per labor unit; price paid for raw materials = $4 per raw-material unit. a. Suppose the firm can produce 5000 units of output by combining its fixed capital with 100 units of labor and 450 units of raw materials. What are the total cost and average total cost of producing the 5000 units of output?b. Now assume the firm improves its production process so that it can produce 6000 units of output by combining its fixed capital with 100 units of labor and 450 units of raw materials. What are the total cost and average cost of producing the 6000 units of output?c. Refer to your answers to 8a and 8b and explain how process innovation can improve economic efficiency.
- Pls help with the below homework. which are two (2) sources of internal economies of scale for a business organization, please evaluate it thoroughly and give advantages and disadvantages of it.2. Models of inventory systems frequently consider the relationships among openingstock, production quantity, demand or sales, and closing stock. For a givenproduction period j, let Sj – 1 = closing stock from the previous periodXj = production quantity in periodDj = demand in period jSj = closing stock for period jRequireda) Write the mathematical relationship or model that describes how these fourvariables are related.b) What constraint should be added to produce capacity for period j is given bycj?2. A man is considering investing P500, 000 to open a semi-automatic auto-washingbusiness in a city of 400, 000 population. The equipment can wash, on the average, 12 carsper hour, using two men to operate it and to do small amount of hand work. The man plansto hire two men, in addition to himself, and operate the station on an 8-hour basis, 6 daysper week, 50 weeks per year. He will pay his employees P25. 00 per hour. He expects tocharge P25. 00 for a car wash. Out-of-pocket miscellaneous cost would be P8, 500 permonth.He would pay his employees for 2 weeks for vacations each year. Because of the length ofhis lease, he must write off his investment within 5 years. His capital now is earning 15%,and he is employed at a steady job that pays P25, 000 per month. He desires a rate ofreturn of at least 20% on his investment. Would you recommend the investment?a) Use ROR method b) Use present worth method c) Use future worth method d) Solve for the payback period and the IRR
- 1)Suppose that labor is the only variable input to the production process. If the marginal cost of production is diminishing as more units of output are produced, what can you say about the marginal product of labor? Draw diagrams as required. 2)Assume that the marginal cost of production is increasing. Can you determine whether the average variable cost is increasing or decreasing? Explain. Draw diagrams as required. Note. Don't use chat gpt.During the month of July, your company makes $12,000 in total sales. Supplies cost you $3,000, and you pay your employees $4,000. What are your total accounting profits? a. $4,000 b. $5,000 c. $12,000 d. $7,000a. How impact substitute’s assumption is applicable in Law of variable proportion? b. How the different types of return are determined in Law of variable Proportion c. Why the law of variable proportion is called Law of diminishing returns?