Indicate whether each of the following is anexplicit cost or an implicit cost.a. A manager’s salaryb. Payments to Dell for computersc. A salary forgone by the owner of a firm byoperating his or her own companyd. Interest forgone on a loan an owner makes tohis or her own companye. Medical insurance payments a companymakes for its employeesf. Income forgone while going to colle

Q: Completed 58 out of 60 uestion 31 of 60 If output falls below equilibrium, marginal cost will be…

A: The output falls below equilibrium then there is a shortage where Qd>Qs and the marginal cost is…

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Q: Quantity Marginal Cost Total Cost Average Cost (Units) ($) ($) ($/unit) 1 $66 $66 $66 2       3…

A: Average cost measures the cost to produce each unit as an average of the total cost of production.…

Q: Explain the term Explicit and Implicit costs. Give examples

A: Implicit costs are costs that arise which are not registered for accounting purposes without…

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A: We are going to use marginal approach to answer this question.

Q: t's birdhouse factory rents equipment for s students. It pays $50 a day for equipment and $14 e…

A: Variable cost does change with change in the level of output. The fixed cost does not change with…

Q: dTC = 25 + 30Q – 9Q² dQ MC = and fixed cost, FC = 55 , find the (i)total 6. Given marginal cost,…

A: According to the question MC = 25 + 30Q – 9Q^2 and FC = 55

Q: Distinguish between implicit and explicit costs. How is it possible to have positive accounting…

A: Any cost that has already occurred but is not shown or reported as a distinct item is referred to as…

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A: When the opportunity cost is ignored by a firm while making investment or shutdown decisions, which…

Q: Jim cannot work for a week due to illness. [ Select | [ Select ] explicit cost implicit cost Norman…

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

Q: Windhoek Manfacture tender to manulacture nurse's uniform.hecentlu,hündhek manufactue Company its…

A: Total cost (TC) incurred by any particular firm is the sum of all production cost that a firm incurs…

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A: In the short run, few costs are fixed and few are variable but in the long run their will be no…

Q: Suppose you have a production technology that can be characterized by a learning curve. Every time…

A: Answer: Quantity (Units) Marginal cost ($) Total cost ($) Average cost ($)= Total cost/Quantity…

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

Q: What is the total cost associated with producing eight units of the control variable, Q identify…

A: Marginal Cost refers to the additional cost incurred due to production of additional unit of output.…

Q: Fillipe quit his old job where he had been earning $2,000 a month to start his own business. He also…

A: Salary = 2,000 Income from business = 1,000

Q: Use the following table to calculate MC - use previous calculations and keep your calculation for…

A: Marginal cost is the change in total cost due to the extra unit of production.  MC is calculated by…

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A: Explicit costs are the costs actually paid or we can say these are accounting costs.

Q: iven - p=35−0.5QTC=0.5Q2+5Q D)What are the break-even quantities? E)What quantity minimizes total…

A: Given Demand function: p=35-0.5Q   ......... (1) Total cost function: TC=0.5Q2+5Q     .......... (2)…

Q: 4 The median starting salary for new law school graduates is determined by log(salary) = Bo + B,LSAT…

A: We are going to use classical linear regression model properties to answer this question. Note: As…

Q: Explain the difference between explicit and implicit costs, and giveexamples of each.

A: Cost refers to the expenses that firms have to incur in the production of their goods and services.…

Q: please solve both subparts

A: Refer to Exhibit 7-9. The amount of consumer surplus after the taxis area: a Therefore, the right…

Q: An explicit cost is defined as a cost that involves spending money. a cost that does not change as…

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Q: TB, TC TC A TB ID rence: TB and TC Curves maximum NB is can be seen by the distance between AG and C

A: the correct answer is B. E and B

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A: The cost refers to money made made by the firm for the purchase of any good or service used during…

Q: variable costs (AVC), average total costs (ATC), and marginal costs (MC) to fill in the missing…

A: Fixed cost refers to the cost that stays same at all levels of output. Variable cost is the cost…

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A: Sunk cost refers to the cost or the expense that is already made and can be no longer recovered.…

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A:

Q: (Long-run costs,) Carmela's pasta factory employs workers and pasta machines according to the lowing…

A:

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A: Fixed cost is an important element of the total cost along with the variable cost. Total cost =…

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A: A Event function sheet Event Function Sheet is one of the document that helps in discussing about…

Q: a. Define explicit costs and implicit costs.   b. Assume the following: * A firm buys a unit of…

A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…

Q: Suppose you have a production technology that can be characterized by a learning curve. Every time…

A: Marginal Cost (MC) is the extra cost of producing an extra unit of a good. Total cost (TC) measures…

Q: $22 00 20.00 18.00 Which size bookstore is more likely to experience diseconomies of scale? Long-run…

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

Q: 1) A manufacturer of kitche. Appliances is preparing to set the price on a new blender. Demand is…

A: Given: D= 2,800-4p C=4,700+5D

Q: 9 The average cost of producing 10 units is Rs 30, while the average cost of producing 20 units is…

A: Given : Average cost of producing 10 units =  Rs 30 Average cost of producing 20 units = Rs 20.

Q: Explain Implicit and Explicit cost with the help of suitable example?

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

Q: A. Graph AFC, AVC, ATC and MC B. Explain the derivation and shape of each of these four curves and…

A: Answer A. The graph below shows all the four curves :

Q: Thomas, a highly successful manager, quit his job in a large retail store so that he could start his…

A: The key motive that drives the firms in a market is profit. Profit is calculated by subtracting…

Q: roduction, C be the total cost, MC be the marginal cost, AFC, the average fixed cost, AVC, the av…

A: The given table is completed as follows:

Q: Tom runs a shoe-shine stand at the airport. Tom has no skills, no job experience, and no alternative…

A: Explicit cost is the direct out of pocket expense for a firm for example wages and salaries, rent,…

Q: Set up the objective function and the constraints, but do not solve. Wison Electronics produces a…

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

Q: If a firm's production exhibits economies of scale then which of the following is true? The firm is…

A: Marginal cost is the additional cost incurred in order to produce an additional unit of output.

Q: I need help with question 5 mankiw chapter 13

A: The decision to accept the offer or not depends on the marginal cost (MC) and marginal benefit (MB)…