If you want to find out how much more income you will earn by selling one more cupcake, you will want to calculate: Question 37 options: economic profit total revenue marginal revenue accounting profit
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If you want to find out how much more income you will earn by selling one more cupcake, you will want to calculate:
Question 37 options:
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economic profit |
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total revenue |
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marginal revenue |
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accounting profit |
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- Many films in the United States file for bankruptcy every year, yet they still continue operating. Why would they do this instead of completely shutting down?Tammy quit her job as a math teacher making $70,000 per year to start her own online business. The first-year revenue totaled to $200,000. During the first year of online business, Tammy paid $50,000 for the office rent and $20,000 for utilities and supplies. What is the amount of economic profit generated from Tammy’s online business?Economic profit is the difference between total revenue and the A) costs of resources bought in markets.B) normal profit. C) interest costs of production.D) opportunity costs of production.
- Gerstner added $20 billion in annual revenue to IBM. Which one of the following formulas would calculate the profit IBM earned? Select one: a. Profit = cost – income b. Profit = price x cost c. Profit = income – cost d. Profit = price x units soldThinking on the Margin to Increase Profitability Have you ever walked into a restaurant for lunch and found it almost empty? Why, you might ask, does the restaurant even bother to stay open? It might seem that the revenue from so few customers could possible cover the cost of running the restaurant. Provide an opinion using the concepts of sunk costs, marginal cost and marginal revenue.Reggie owns and operates a cheese shop in the village of Somerset. While Reggie has a degree in mechanical engineering and could easily go to work for his brother\'s company earning $76,000 a year, his true passion is for cheese. Below is a list of Reggie\'s expenses from 2010. Please use the information provided to answer the questions that follow. Revenue from 2010= $90,00 Rent= $18,000 Equipment= $6,000 supplies= $3000 What is Reggie\'s accounting profit? What is Reggie\'s economic profit?
- Use the data below to answer the questions: Price Quantity Demanded Total Revenue Marginal Revenue Total Cost Marginal Cost $24 1000 $24,000 ***************** $15,000 **************** $22 1250 $27,500 $14 $17,000 $8 $20 1500 X $10 $19,500 $10 $18 1750 $31,500 Y $23,000 $14 $16 2000 $32,000 $2 $27,000 Z (d) Find the profit maximizing price. (e) Find the profit maximizing quantity. (f) Find the profit the firm will earn.A man managing a restaurant for $20,000 per year decides to open his own diner. His revenue during the first year of operation is $110,000, and his expenses are as follows: Salaries, $55,000; Supplies $11,000; Rent, $9,000; and Utilities, $1,500. He financed the diner with a loan of $70,000 at a 5% interest rate. Calculate: a. explicit costs b. implicit costs c. business profit d. economic profitLetters are used to represent the terms used to answer this question: price(P),quantity of output(Q),total cost(TC)and average total cost(ATC).Which of the following equations is equal to a firm's average profit? A. (P −ATC) × Q B. P−ATC C. (P×Q)−TC D. P−TC
- In one way or another, most large companies sell to ________. Select one: a. other organizations b. not-for-profit companies c. employees d. consumersUse the following information for this question: Price = $10.00 per unit Quantity sold = 45,000 Accounting costs (explicit costs; expenses) = $300,000 Opportunity costs (implicit costs) = $75,000 Given the above information, how much is accounting profit for this business? ______________________ Group of answer choices $300,000 None of the above $45,000 $75,000 $150,000looking for help with this homework question... I'm not sure if wages, owners salary, job offer salary gets deducted or added for following question? Calculate the firm's economic profit. Revenue = $425,000 Raw materials = $60,000 Utilities = $20,000 Wages = $100,000 Owner's Salary = $95,000 Potential Rent from Building = $50,000 Job offer salary = $90,000
