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ilustrate and example of economic profit with numbers
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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?Price = $20, quantity = 400 units, unit cost = $15,implicit costs $ = 4,000. What does economic profit equal?The Organizational Culture of Quinlan's
- Can you give examples of companies with perfect competition?explain the photo regarding the net profit margin and give insights about it. also, provide a graph for that and explain how you made it. use your own wordsCreate two graphs, one showing fixed, variable, total costs, revenue and profit. The other showing marginal and average cost and marginal revenue.
- Thinking 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.Tony is a wheat farmer, but he spends part of his day teaching guitar lessons. He has more students requesting lessons than he has time to teach and still maintain his farm. Tony charges $25/hr for guitar lessons. One spring day he spends 10 hours in his field planting $130 worth of seeds, which he expects will produce $300 worth of wheat. What will Tony’s economic profit equal?Degree of competition and define it's types.