how does "Economic Profit" differs from the measurement of profit in other fields such as Accounting. How are costs measured in Economics

Q: Given the equation of Q = min(4K,8L), how much output is produced when 2units of labor and 5 units o...

A: Given: Q=min(4K,8L) Labor=2 units Capital=5 units  

Q: Analyze the six strategies police administrators use to modify the attitudes of their subordinates

A: In order to modify the attitudes of the subordinates, the six strategies that are being used by the ...

Q: The highest quality cricket bats, used by Test cricketers, sell for over $1,000AUD. They are made fr...

A:

Q: Suppose a firm produced 2 goods x and y and must produce x + y = 42 and have a cost function of c = ...

A: Total cost is the summation of total fixed cost and total variable cost. Total fixed cost is the cos...

Q: Write a brief paragraph detailing certain markets that wouldn't even exist without government interv...

A: Government intervention is when the government takes regulatory action to try to influence peoples, ...

Q: “To be or not to be, that is the question.” Imagine that in answering this question Hamlet had the f...

A: Given information 2 players  Hamlet and king Hamlet has 2 strategy to be or not to be King has 2 str...

Q: What are the nonincome determinants of Consumption and Savings?

A: Consumption refers to the act of consuming goods and services to satisfy the wants. It is an importa...

Q: If the inflation rate is higher than the interest rate, then   A. it is no longer possible to earn a...

A: According to the Fisher equation, Real interest rate = Nominal interest rate - inflation rate ...

Q: Which of the following is not one of the Lources of imperfections in the labour mar O The existence ...

A: Labor markets are rarely totally competitive in the real world. Because workers or businesses typica...

Q: 6-2. What is the trade feedback effect?

A:  International trade: - it means the buying and selling of goods and services with other countries.

Q: The slope of IC, from A to F is: Good X 10 -IC1 8 ICZ 10 12 Good Y 00

A: Indifference curve shows different combinations of two goods that gives the consumer same level of u...

Q: Bozo is a clown. He wants to start a clowning business where he sends other clowns out to birthday p...

A: When there are 2 workers,Output (Birthday parties)=7When there are 3 workers,Output (Birthday partie...

Q: Use the cost table below to find the following marginal costs.   Output quantity Total variable cost...

A: Marginal cost is the additional cost incurred from producing an additional unit of output.

Q: Table 14-4 The following table presents cost and revenue information for a firm operating in a compe...

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

Q: What is the difference between detachable stock warrants and convertible bonds?

A: A bond is essentially an advance taken out by an organization. Rather than going to a bank, the orga...

Q: 1. The demand for a particular spare part in a factory was found to vary from day-to-day. In a sampl...

A:

Q: ubject: Microeconomics Question:Which is/are perfectly elastic: a. TVC b. TR c. AVC d. MR e. T...

A: Answer is given below

Q: 1. Suppose the government borrows $20 million more next year than this year. a. Draw and fully label...

A: Answer: (d). The elasticity of the supply of loanable funds shows that if the interest rate changes ...

Q: construct two graphs lined up one on top of the other. The upper graph should reflect a total cost c...

A: Total cost is the sum of fixed cost and variable cost. 

Q: ized. The loss of head due to friction for the 26-inch pipeline will be 67 feet. The energy of the w...

A: The correct answer is given in the second step.

Q: What are the basic dimensions of populationdevelopment?

A:   Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and scarcit...

Q: What other factors besides interest rates will cause the investment demand curve to shift?

A: Investment demand has an inverse relationship with the interest rate. There are other factors also t...

Q: Required information Graph A shows the market demand and supply in a perfectly competitive market. G...

A: A perfectly competitive firm is price taker which accepts the market price as given.

Q: Suppose the government borrows $20 million more next year than this year. a. Draw and fully label a ...

A: A) fully labeled diagram?? B) rate of interest rise or fall ?

Q: 9. Regulating a natural monopoly Consider the local cable company, a natural monopoly. The following...

A: Natural monopoly will boost profits by delivering at the amount where marginal revenue (MR) approach...

Q: If the government wanted to reduce inflation in the economy, it could: a. Increase income transfers ...

A: Fiscal policy refers to changes in government spending, taxes and transfers. It is imposed by the go...

Q: The government raises lump-sum taxes on income by 100 billion, and in the long run loanable funds mo...

A: Given; Increase in taxes= 100 billion Marginal propensity to consume= 0.6 Marginal propensity to sav...

Q: It is clear that productive inefficiency is a waste since resources are being used in a way that pro...

A: Productive inefficiency means that the same output can be produced at a lower cost of production. It...

Q: Commodity 2001 price 2002 price Rice Cherries Market Basket Quantity 10 lbs. 5 Ibs. $1.00 $1.75 $1.1...

A: A consumer price index is calculated as a set of summary measures of the proportional change in the ...

Q: Lamburgs Incorporated is attempting to predict the impact of a forthcoming environmental regulation ...

A: The expected variable cost can be determined by the probabilities of various uncertain events. There...

Q: Production Point Capital (K)  Labor (L) Output (Q) A 1 1 2 B 2 2   C 1 3   D 2 4   E 1 5   F 2 6   G...

A: Given information Production table is given Production Point Capital (K)  Labor (L) Output (Q) ...

Q: effect did the recession of 2007–2009 have on government regulation?

A: The Great Recession was the sharp decline in economic activity during the late 2000s. It is consider...

Q: Production Point Capital (K)  Labor (L) Output (Q) A 1 1 2 B 2 2   C 1 3   D 2 4   E 1 5   F 2 6   G...

A: Returns to scale can be classified into three categories; 1- Increasing returns to scale (IRS) 2- De...

Q: In general, different jobs pay different wages. One overarching reason is that different jobs have d...

A: A wage is pay paid to representatives for work for an organization during a timeframe. Wages are gen...

Q: 4. Primary fiscal surplus refers to:   a. private savings   b. total savings   c. public savin...

A: The primary surplus  of a country refers to the portion of the fiscal surplus that is made up of cur...

Q: If two companies are seeking regulatory approval to merge their respective businesses, which of the ...

A: A merger refers to the legal agreement between two firms to work together and act as a single firm. ...

Q: Consider monopolies such as local water or electric public utilities that are regulated by a governm...

A: The structure of a market where there is only a single seller in the market is being known as a mono...

Q: When one focuses on aggregate demand and aggregate supply in macroeconomics, the main focus is on......

A: The entire supply and total demand in an economy at a certain point in time and at a specific price ...

Q: Situation 21-1 Diane's Donuts will begin selling donuts next week. Diane figures that the average va...

A: Given: Average variable cost=$0.30 Amount paid for machinery=$20000

Q: What is Development Planning? Why is there a need for economic development planning?

A: The creation of wealth from which the benefits of the community are being realized is known as econo...

Q: Find the most likely price in US corresponding to the price of $ 70 at Russia from the following : R...

A:

Q: 1. The following table shows three age-groups of boys and girls, (a) the number of children affected...

A:

Q: Exhibit 21-3 Marginal Physical Total Total Product of Variable Marginal Variable Fixed Input Input V...

A: The markets are the place where the buyers, and the sellers of the goods, and services tend to inter...

Q: SARAH makes $43,000 per year, is single, and lives in Connecticut. She has $19,000 in Direct Subsidi...

A: Sarah is earning an income of $43000 per year. She has subsidized and unsubsidized loans of differen...

Q: E2

A: The inflation rate is the ratio of percentage change in the consumer price index of the current year...

Q: Complete the right-hand column of the following table, which shows the individual benefits of Kenji....

A: The correct answer is given in the second step.

Q: For demand function Qd = a - dP and supply function Qs = dP - c, using the Cramer’s Rule, determine ...

A: We have given  Demand function: Q=a-dP         ... (1) Supply function:  Q=dP-C          .... (2) He...

Q: On his recent birthday on April 18, 2012, Cai was given by his mother a certain amount of money as b...

A:

Q: Output (units) (units) (units) (units) |(dollars) (dollars) (dollars) 1 $500 $0 1 1 10 (A). $500 $20...

A: We know ,      TC = TFC + TVC      TC = 500+ 600       TC = $1100    

Q: How does protectionism affect world trade?

A: Protectionism:- The term protectionism can be used to explained governmental measures to limit forei...