Calculate the total revenue if explicit costs of the firm are $400 and the accounting profit is $850

Q: The Lawn Ranger, a landscaping company, has total costs of $4,000 and total variable costs of$1,000.…

A: The data presented in the above question is as follows:- Total cost = $4000 Total variable cost =…

Q: The manufacturer of an energy drink spends $1.28 to make each drink and sells them for $3.27. The…

A: Given information: A manufacturer of energy drinks spends $1.28 to make each drink and sells them…

Q: A company's revenue is $1,600,000. Its explicit cost is $1,000,000 and its implicit cost is…

A: Implicit cost refers to the opportunity cost of the resources which is owned by the owner of the…

Q: Use the equations for the total cost C and total revenue R to find the number x of units a company…

A: A firm breaks even when it makes zero economic profit. It is a situation of no profit no loss.

Q: You are analyzing a new company’s records projecting their profits using a marginal profit function,…

A: We are going to use marginal approach to answer this question.

Q: Consider the data in the table which applies to the provision of psychological testing services.…

A: Variable Cost is the cost which depends on the amount of output. It changes with the change in the…

Q: Misleading product cost numbers are most likely the result of misallocating 1 direct material cost 2…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

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: If Total Revenue = 25Q-2Q^2, graph the Total Revenue function and using the average cost function,…

A: By putting the different values of the quantity in the total revenue function we will get the total…

Q: A firm has the following information on production and costs from past data: Output (Y) 0 6 12 18…

A: Cost function: TC= aY3+bY2+kY2+f    ...........(1) First, we have to find the value of a, b, k, and…

Q: Suppose an artist produces 6 paintings. If fixed costs are $200 and variable costs are $100, then…

A: There are mainly two type of cost , FIXED COST and VARIABLE COST which is used in production ,…

Q: If short run total costs are 2q2 + 50q + 50, and output is 15, average variable costs will be 80.…

A: Given; Total cost; TC=2q2+50q+50 Formula to calculate average variable cost:-…

Q: Boeing is a producer of aircraft. Determine whether each of the following are fixed costs or…

A: Total cost is the sum of fixed and variable costs. Total fixed costs are the total obligation of the…

Q: (Explicit and Implicit Costs) Amos McCoy is currently raising corn on his 100-acre farm and earning…

A: Given: Total revenue = 100 Cost (Explicit+Implicit) = 200

Q: The absolute value of the slope of a firm's isocost line is equal to the ratio of...

A: Isocost line is the line which shows different combinations of labor and capital, or any other two…

Q: A hotel that produces 100 pizzas has a variable cost of OMR 50 and a fixed cost of OMR 200.…

A: The firm's costs and revenues are the important components that help the firm set its target and…

Q: Why can the distinction between fixed costs and variable costs be made in the short run? Classify…

A: There are some costs that will not change as the level of output changes. If the firm wants to…

Q: Which one of the following would be regarded as a variable cost for a firm?   Select one: a. the…

A: Meaning of Variable Cost: The term variable costs are those cost which changes or fluctuates, as…

Q: Output Total Cost 0 24 1 33 2 41 3 48 4 54 5 61 6 69 Refer to the above data. The…

A: marginal cost measures the additional cost incurred in order to produce an additional unit of…

Q: Economies of ______ occur when a single firm can produce two products for a lower total cost than…

A: Economies of scale occur when a single firm can produce two goods for a lower total cost than two…

Q: Directions: For each of the following problems you should use EXCEL to calculate the various…

A: Hello. Since your question has multiple parts, we will solve first question for you. If you want…

Q: Water and electricity used in manufacturing company is an example of: A Manufacturing overhead -…

A: The markets are the place where the buyers of various goods, and services tend to meet and interact…

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: is the firm's total cost function? TC = 20,000 + (1,000q). TC = 1,000q. TC = 20,000. 20,000 +…

A: A firm has a fixed production cost of $20000 and a constant marginal cost of production of $1000 per…

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: Which of the following is most likely to be an implicit cost?* rental income foregone on assets…

A: NOTE: .We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Suppose that a firm produces 400,000 units a year and sells them all for $25 each. The explicit…

A: Answer - Given in teh question- Total production = 400,000 Price per unit = $25 Explicit costs =…

Q: 7 A firm has this cost function: C = 4000 - 7Q + 8Q2. The firm is currently producing 5 units of its…

A: Cost Function = C = 4000 - 7Q + 8Q2  where Q = 5

Q: If an increase in output size results in reductions in average costs, this is known as:…

A: An increase in the level of production increases the size of the output. This leads to a fall in the…

Q: With fixed costs of $400, a firm has average total costs of $3 and average variable costs of $2.50.…

A: Given:  Total Fixed Cost = 400. Average Total Cost = $3 Average Variable Cost = $2.50

Q: Accounting profits are: A.) economic profit less explicit costs. B.) less than economic…

A: "There are two kinds of costs explicit costs (are out of the pocket costs for a firm) and implicit…

Q: A producer borrows money and starts a business. He himself looks after the business. Identify…

A: (1.) A producer borrows money and starts a business. He himself looks after the business. Identify…

Q: A firm's accounting profit is called a normal profit when its a. average cost is minimum. b.…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: firm has fixed costs, then its ________ cost exceeds its ________ cost. a.average total; average…

A: Here, Q = quantity  ATC = average total cost  TVC = total variable cost AVC = average total cost…

Q: A firm’s short-run marginal cost______________________________.   increases with output remain…

A: By definition, marginal cost refers to the additional amount of cost which the firm has to bear for…

Q: Given the information that follows: Sales = 750,000 explicit costs = 450,000 return you could have…

A: Accounting profits signify the amount of sales(or earnings) left after accounting for all explicit…

Q: If the accounting profit in an economy is $42 billion and the implicit cost is $29 billion find the…

A:

Q: TV manufacturer can produce 200 TVs in a month at a total $140000 and 400 TVs at a total cost…

A: Given the cost for production of 200 Tvs is $140,000. Therefore, the fixed cost is $140,000 as it…

Q: A company has a linear total cost and a linear total revenue, where the slope of the revenue line is…

A: The break even point of a firm occurs when the total revenue equals total cost. The total cost curve…

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: When all fixed costs become variable costs a firm is considered to be in the

A: In the production process, a business firm develops its output from employing resources ( also…

Q: Which of the following is considered when calculating economic profit but not accounting profit? a.…

A: Cost refers to the amount or equivalent paid or charged for something

Q: Marginal cost is defined by: (a) total cost increases when one more unit is produced. (b) fixed…

A: In economics, cost is further classified as marginal cost, fixed cost, variable cost, average…

Q: The Framing Gallery frames posters and has total fixed costs of $1,000. The Framing Gallery is…

A: Answer: Any production activity composed of fixed costs and variable cost, fixed cost remains fixed…

Q: The cost structure of a manufacturer of microchips is described in the table shown below. The firm's…

A: So first need to find TVC by subtracting TFC from TC then find AVC and AFC with the TVC and TFC .…

Q: e Excel to show formulas used  Amazing is evaluating three locations for a second headquarters.…

A: Break even point = Fixed costs / (sales price per unit – variable cost per unit) · Location A Break…

Q: Variable costs are         sunk costs.        costs that change every day.        costs that change…

A: Costs are the expenses that a firm has to incur in the production of goods and services.

Q: Suppose that a firm produces 475,000 units a year and sells them all for $20 each. The explicit…

A: All the firms try to maximize their profits. There are two types of profits- accounting profits and…

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…

Q: If a firm is currently producing zero output, then total costs equal average variable costs. B…

A: Total cost (TC): - it is the sum of fixed and variable costs incurred in the production process.