If the firm produces 4 units of production at a price of 8 monetary units each, and the total fixed costs (TFC) are 10 monetary units, the total variable costs (TVC) are 42 monetary units. Calculate the total economic profit (or the loss).

Q: The Warren Watch Company sells watches for $27, fixed costs are $100,000, and variable costs are $14…

A: A variable cost is a corporate expense that changes in proportion to how much a company produces or…

Q: You own a firm with a total cost function of: TC = 40 + 150, where Q is the number of output. As you…

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

Q: An ice cream shop owner is deciding whether or not to keep her ice cream shop open during the…

A: Fixed costs are defined as the costs incurred at the time of setting up of the business such as…

Q: A firm has the following information on production Q.6 and costs from past data: Output Total Cost…

A: The total cost function is an aggregate function of total fixed cost and total variable cost where…

Q: If a retail clothing shop has to pay monthly rental of A$10,000 and has variable costs of A$20,000…

A: A firm faces different shut down constraint in different time periods such that in short-run or in…

Q: Suppose the firm achieves total revenue of $1,000 by selling 150 units while facing total costs of…

A: The marginal revenue must be compared to the marginal cost of production to know if the firm must…

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: The fixed cost is $150, the variable cost per unit $5, and the demand function fo a the product is…

A: The goal of any firm is profit maximization. Profit is nothing but the difference between total…

Q: Letters are used to represent the terms used to answer this​ question: price​(P​), quantity of…

A: Answer: Correct option: option (B) Explanation: A firm earns profit if the price is higher than the…

Q: A firm’s total cost is $1,000 if it produces one unit, $1,600 if it produces two units, and $2,000…

A: Total cost is the cost that is incurred to use the factors of production to produce goods and…

Q: A firm has the following revenue and cost functions: TR = 100 Q – 4Q2 TC = 300 +40 Q + 2Q2 Determine…

A: Given TR= 100Q-4Q2  TC= 300+40Q+2Q2  The condition for profit maximization is  MR=MC MR is the…

Q: What is the marginal net benefit of producing the twentieth unit? No. units Total Total produced…

A: Marginal net benefit refers to the additional in the net benefit. Here the marginal net benefit of…

Q: Rasiah's Garden of fruit is a firm selling fruits in a perfectly competitive market. Total fixed…

A: "Since you have asked multiple parts, we will answer only the first part for you. If you have any…

Q: conomist estima Cost function of a single-product firm C(Q) = 100 + 20Q + 15Q2 + 10Q³ Based on this…

A: Variable costs are any expenses that change based on how much a company produces and sells. This…

Q: A business has found that it can sell 680 items if it sets its price to $66.9. However, if it lowers…

A: When the price is $66.9, then the quantity sold is 680 items. When the price is $40.19 then the…

Q: Suppose a company's revenue function is given by R(q)=−q3+400q2R(q)=-q3+400q2 and its cost function…

A: Profit maximising condition  where marginal cost is equal to marginal revenue   And Equilibrium…

Q: 20Q, where C is the total cost, F is a fixed cost, and Q is the level of output. The inverse demand…

A: Answer According to the question it is given that : Cost function (C) = F + 20 Q And, the inverse…

Q: The total revenue curve of a firm is R(q) = 40q − 12q2 and its average cost A(q) = 1/30q2 − 12.85q +…

A:

Q: Table: Total Cost for a Perfectly Competitive Firm Quantity per Period Total Cost s10 16 2 20 3 22…

A: MC= TC2-TC1/Q2-Q1

Q: Your college newspaper, The Collegiate Investigator, sells for 90¢ per copy. The cost of producing x…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Suppose that the marginal revenue for a product is MR = 900 and the marginal cost is MC = 33,(x+9),…

A: Given  Marginal revenue = 900 Marginal cost = 33√(x+9) X = 5units. Profit(π) = Total revenue- Total…

Q: The figure below shows an individual firm's marginal cost (MC), average variable cost (AVC), and the…

A: The above graph follows the shutdown condition which the firm should not operate when the price is…

Q: A firm has two plants with marginal costs: MC1(y )=3y+2 and MC2(y )=8y. Assuming that the firm is a…

A:

Q: Suppose that the marginal revenue for a product is MR = 775 and the marginal cost is MC = 39 times…

A: The following information is given: Marginal revenue MR = 775, Fixed cost = $906, Quantity = 3…

Q: Consider the following hypothetical firm that is normally producing 200 units of the product per…

A: Variable costs  are costs that extrade because the extent changes. Examples of variable costs are…

Q: 1. Diminishing returns happen when the firm adds more amount of a variable input, it should also…

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: If a firm makes zero economic​ profit, then the firm A. has total revenues greater than its…

A: The difference between the total revenue received by the firm from its sales and the total…

Q: You sell Objects and you know your average cost (in dollars per Object) when you produce q Objects…

A: The firms have to deal with several issues and functions of costs, revenues, profits, and the like…

Q: A car wash service 'Clean and Shine' is a small business operating in the short run in a perfectly…

A:

Q: A firm has fixed costs of $80,000 associated with the manufacture of lawn mowers that cost $200 per…

A: Total cost is the sum of Fixed and variable cost. Total revenue is price multiplied by quantity.…

Q: When a firm maximizes profit in the short run, it should consider:     all costs, including…

A: The short run is a period in which the time period is not long enough to make changes in all the…

Q: A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has…

A: Profit maximization: It is the ability of a business to earn maximum profit at a low cost.

Q: When a firm is operating at its minimum efficient scale, its: a. marginal revenue is less than the…

A: Minimum efficient scale is defined as the level of output at which all economies of scale are…

Q: The total revenue curve of a firm is R(q) = 40q − 12q2 and its average cost A(q) = 1/30 q2 − 12.85q…

A: R(q) = 40q − 12q2  A(q) = 1/30 q2 − 12.85q + 20 + 400/q Total cost = A(q) * q

Q: Here is the production cost function, in $ of producing q units of a product: 2200 C(q) = 300 +0.8q2…

A: Since you have posted multiple questions with multiple subparts, as per guidelines, we are supposed…

Q: The water bottle manufacturing company in Muscat facing the following demand function P=1000-10Q.…

A: The equilibrium price and equilibrium quantity of a good sold in the market are determined by the…

Q: the unit cost, in dollars,to produce bins of cat food is $4 and the fixed cost is $22638. The…

A: Hi, thanks for the question. Since there are multiple subparts, we will answer first three subparts.…

Q: A firm can produce at most x = 2500 units per month, and their marginal cost function has been…

A: A firm can produce at most x = 2500 units per month, and the marginal cost function is given as,…

Q: If the Marginal Cost for a product is found to be MC= 8x+60 , and the Marginal Revenue is given as…

A: The marginal cost(MC) is the cost of manufacturing one more unit of output(o/p). Whereas the…

Q: You are managing a restaurant establishment earning net of Php800,000.00 per year decides to open…

A: Introduction The expenditure incurred on these inputs is called cost of production. Opportunity cost…

Q: What is the term for the rising portion of its marginal cost curve above its average variable cost…

A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you.…

Q: A firm produces a product in a competitive industry and has a total cost function C = 80 + 4q + 2q2…

A: A perfectly competitive market is one of the market structures where the sellers sell identical…

Q: Suppose the marginal cost and marginal revenue (in ¢000) for a product produced by a company is…

A: Given: MC=q+35 (in ¢000)  MR=560+22q−q2 (in ¢000)

Q: A profit-maximizing firm in a competitive market is currently producing 90 units of output. It has…

A: The following information is given: Output = 90 units, Average revenue = 46, Fixed cost = $270,…

Q: What is the Average Variable Cost if the firm produces 17 units

A: The formula for Average Variable Cost (AVC): AVC = Total Variable Cost (TC) / Quantity (q)

Q: The profit function for a firm is given by (q) = -q³ + 300q² – 10,800q – 4,000. a. Is the firm…

A: Since, you have asked question will multiple parts, we will be answering the first three parts for…

Q: Consider a small business that makes pastries. The business has rented a building to be used as its…

A: Consider a small business that makes pastries. The business has rented a building to be used as…

Q: Cost, revenue, and profit are in dollars and x is the number of units. Suppose that the total…

A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…