Given the information that follows: Sales = 750,000; explicit costs = 450,000; return you could have earned by investing your money elsewhere = 50,000; wages that you and your family members could have earned doing the same work for another firm = 70,000. The accounting cost is equal to?

Q: The monthly cost function, in dollars, for a coffee maker factory is C(x) where x is the number of…

A: Cost function for a coffee makers produced= C(x) where; x= Number of makers produced  Total cost;…

Q: You are a manager at Glass Incorporated—a mirror and window supplier. Recently, you conducted a…

A: Labor cost= RM 60 Capital cost= RM 20

Q: Indicate whether each of the following is anexplicit cost or an implicit cost.a. A manager’s…

A: Explicit Costs are costs that are directly incurred by the business. They can be seen in the…

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A: We are going to solve for marginal rate of technical substitution to answer this question.

Q: Q2. Suppose a management accountant of a manufacturing company give you the following information: -…

A: Answer: Given, Price (P) (in OMR) Quantity (Q) (units per month) 1000 (P1) 175 (Q1) 1800 (P2)…

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A: Transfer price is defined as a price at which related parties transact with each other such as…

Q: The Cobb-Douglas production function is commonly used to model the production of an output, based on…

A: Given information Cobb-Douglas production function Equation Given in A2 ∆QQ=β∆LL Production function…

Q: Economists at Jensen Enterprises used time-series data to estimate the following total cost function…

A: TC(total cost) is the sum of TVC(total variable cost) and TFC(total fixed cost). AC(average cost) is…

Q: Refer to the graph shown above. Based on the information illustrated in the graph, which of the…

A: Answer - Need to find- Correct option - Given in the question-

Q: All of the following are examples of common fixed costs except Multiple Choice sales commissions…

A: Fixed cost are that cost which is fixed in nature , which is not changing so we can find the answer…

Q: Luis has a factory that produces construction tools in CDMX. Knowing that your marginal cost…

A: The firm produces output in the form of the various goods and services which has various costs…

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A: Labor economics: Labor economics aspects try to comprehend the working and elements of the business…

Q: Which of the following would be the best starting point on which to focus if an air conditioner…

A:

Q: If both the fixed and variable costs associated with a product decrease, what will be the effect on…

A: The breakeven point is determined by partitioning the fixed costs of production by the cost per unit…

Q: If the firm made total sales of $999 million (mn) in 2020, spent $197 mn on inputs and $193 mn on…

A: Net Profit margin is a measure to calculate the profit , so here we calculate the Net Profit Margin…

Q: Question 1: Given the following cost function: TC = 1500 + 15Q – 6Q 2 + Q3 i. Determine the total…

A: i) TC = 1500 + 15Q – 6Q2 + Q3 Fixed part is that part of the total cost which is always constant.…

Q: The following is cost information for the Creamy Crisp Donut Company. Entrepreneur's potential…

A: Answer: Normal profit: normal profit occurs when the value of economic profit is zero. Economic…

Q: ABC Company has a product that sells for $400 per unit and its variable cost per unit is $260.…

A: Price for a product is equal to $ 400. Variable cost is a cost that varies with the level of output…

Q: Find the economic lot or economic order quantity Size which minimizes total cost Question A company…

A: Fixed cost = $400 Additional cost =$10 x 57,760 boxes = $577,600 Storage cost of 57,760 boxes = $5 x…

Q: Classify the following costs as explicit or implicit. Explain your answer ABC Company spent $1000…

A: Explicit cost :- Those cost which is actually incurred by the organization is called explicit cost.…

Q: If each unit of labour costs $25 and the cost of capital is fixed at $100, then the average variable…

A: Average variable cost(AVC) is the variable cost per unit.

Q: Diseconomies of scale occur mainly because

A: Diseconomies of scale is associated with the increasing cost per unit with increase in the scale of…

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: For the following cost function TC = a + bQ – cQ2 + dQ3, determine the equations for TFC, TVC, AFC,…

A: Given: The cost function is:  TC = a + bQ - cQ2 + dQ3 To Find: The equations for TFC, TVC, AFC, AVC,…

Q: Implicit costs are Multiple Choice ) the same as economic costs. comprised entirely of actual…

A: When computing the cost associated with a specific task or event, an individual looks into two types…

Q: What is the relation between fixed costs and total costs?   Question 5 options:   Two of the other…

A: Fixed cost is a component of total cost and is defined as the cost of production that does not…

Q: Differentiate between explicit and implicit costs. Explain the importance of considering both types…

A: Explicit cost: It is the cost that is incurred in running the day-to-day operations of a business…

Q: Identify each of the following costs associated with owning an automobile as direct (D) or indirect…

A: The costs involved in the production of a good or service are direct and indirect costs. A direct…

Q: At what level of output will average variable cost be at a minimum? What is the minimum average…

A: The average variable cost or AVC is the total (TVC) variable costs per unit of (Q) output. These…

Q: Q45 When a factory is operating at the level of output where its short-run average total cost is at…

A: Short-run average expense (SRATC/SRAC) approaches average fixed expenses in addition to average…

Q: The chief economist for Argus Corporation, a large appliance manufacturer, estimated the firm’s…

A: We can use the given regression equation to estimate the average variable cost for the level of…

Q: n 1997, researchers at Texas A&M University estimated the operating costs of cotton gin plans of…

A: Total cost:C(q)=0.023q2+21.8q+326Total revenue:R(q)=Price*quantityR(q)=70qTotal…

Q: The chief economist for Argus Corporation, a large appliance manufacturer, estimated the firm’s…

A: Average variable cost: It is a company's variable costs partitioned by the amount of yield created.…

Q: State whether actual (A) or estimated (E) costs are more likely to be used to carry out the…

A: The actual cost is the actual payment that does not vary in a transaction. On the other hand, the…

Q: Which of the following statements is true? Costs are always explicit, never implicit. Costs are…

A: Cost is the expenditure incurred by the firm on purchase of factors of production for the production…

Q: an American multinational that sells consumer electronic products, has manufacturing facilities in…

A: The amount of output at which a company's earnings are maximized is referred to as the optimum…

Q: The estimated short-run cost function of a Japanese beer manufacturer is C(q) = 0.8g1.8, 500 At what…

A:

Q: For the following cost function TC = a + bQ – cQ2 + dQ3, determine the equations for TFC, TVC, AFC,…

A: Given: TC = a + bQ – cQ2 + dQ3

Q: Indicate whether each of the following is an explicit cost or an implicitcost.a. A manager's…

A: Note:- Since we can only answer up to three subparts, we'll answer the first three. Please repost…

Q: Given the following cost function: TC = 1500 + 15Q – 6Q 2 + Q3 i. Determine the total fixed cost for…

A: Given, the cost function: TC = 1500+15Q-6Q2+Q3 i) Total fixed: The cost that does not depend on the…

Q: Classify each of the following cost items as mostly fixed or variable: a. Raw materials d.…

A: Costs are the expenses that firms incur in the production of goods and services. Fixed costs are the…

Q: . The chief economist for Argus Corporation, a large appliance manufacturer, estimated the firm’s…

A: Given: AVC = a + bQ + cQ2 Total fixed cost each month is- $180,000. To Find: Are the estimates ˆa,…

Q: You are a manager at Glass Incorporated—a mirror and window supplier. Recently, you conducted a…

A: Given: Per unit labour cost (w) = RM 60 Per unit capital cost (r) = RM 20 Output price (P) = RM 12…

Q: Normal profit is a term for explicit profit the competitive rate of return the accounting profit…

A: In a market, profit refers to the difference between firm's total revenue and total cost that is…