Suppose a fim is producing 400 units of output, incurring a total cost of $650,000 and total fed cost of $75.000. can be conduded thterage variae OA $1438. OB. $1625. OC. $2000. OD. $188. OE $1813.
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- What is die difference between accounting and economic profit?Farmer Greene faces diminishing marginal product.If she plants no seeds on her farm, she gets noharvest. If she plants 1 bag of seeds, she gets3 bushels of wheat. If she plants 2 bags, she gets5 bushels. If she plants 3 bags, she getsa. 6 bushels.b. 7 bushels.c. 8 bushels.d. 9 bushels.the right answer is A and C and i wonder why. pls explain by details, thx!
- According to Accountants cost of production consist of both explicit and implicit cost ----a) Yes.b) Not surec) Falsed) none of the mentioned18. Which would be an implicit cost for a firm? The cost of: A. Property insuranceB. Property tax C. Raw materialsD. Wages foregone by the owner of the firmSelected accounts with some amounts omitted are as follows Work in Process Oct. 1 Balance 20,700 Oct. 31 Finished goods X 31 Direct materials 90,100 31 Direct labor 172,700 31 Factory overhead X Finished Goods Oct. 1 Balance 12,200 31 Goods finished 306,100 If the balance of Work in Process on October 31 is $205,900, what was the amount of factory overhead applied in October? a.$172,700 b.$90,100 c.$399,300 d.$228,500
- Q=ksquerLquebed and input prices arer=8birr perunite andw=2birr per unite.find the labour and capital that maximaize the level of output for atotal out lay of birr 240Question: Indicate whether the following statemnts are true or false:- a) If the firm increases the volume of used resources by 30%, and the volume of production thus increases by 20%, then there is a positive effect of the production scale. b) Average fixed costs decrease as production increases. c) The economic profit usually exceeds the accounting profit. Thanks!(i) A business manager determines that t months after production begins on a new product,the number of units produced will be P thousand, where P(t) =6?2 + 5?(? + 1)2.What happens to production in the long run ?(ii) A ruptured pipe in a North Sea oil rig produces a circular oil slick that is y meters thick at adistance x meters from the rupture. Turbulence makes it difficult to directly measure thethickness of the slick at the source (where x = 0), but for x > 0, it is found thaty =0.5(x2 + 3x)x3 + x2 + 4x . Assuming the oil slick is continuously distributed, howthick would you expect it to be at the source?
- True/False: 1. Implicit costs are those costs, which have been incurred in the past and cannot be recovered bycurrent decisions.2. It is possible for the economic profit and accounting profit to be equal to one another.3. If Ed<1, an increase in price leads to higher revenue.4. In the long run, at least some of the inputs should be variable.5. Production is a transformation of resources in to goods and services.18. Assuming England has 60 man-hours (mhrs) of labor resource available for production, and labor is the only resource, the per unit resource cost of wine in England is ____ mhrs/bottle. (Plea. Why will firms in most markets be located at or close to the bottom of the longrun average cost curve? b. Distinguish between implicit and explicit costs. How is it possible to havepositive accounting profit and negative economic profit concurrently? c. Distinguish between economies of scale and constant returns to scale. What shape will the long-run average cost curve have for economies of scale andconstant returns to scale. d. What is the difference between production in the short run and production in the long run? Explain the shape of the long-run cost curve in relation to shortrun cost curves?