Use table to find the required values: Price $32 Quantity 400,000 Explicit costs $3,500,000 Implicit costs $4,100,000 (A) Calculate total revenue. (B) Calculate accounting profit. (C) Calculate economic cost. (D) Calculate economic profit.
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Use table to find the required values:
|
Price |
$32 |
|
Quantity |
400,000 |
|
Explicit costs |
$3,500,000 |
|
Implicit costs |
$4,100,000 |
(A) Calculate total revenue.
(B) Calculate accounting profit.
(C) Calculate economic cost.
(D) Calculate economic profit.
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- Quantity Fixed Costs Variable Costs Total Cost Marginal Cost 10 200 50 250 *********** 20 200 100 300 5 30 200 300 500 20 40 200 800 1000 X (A) If the equilibrium price is $20, find the profit-maximizing quantity. (B) How much profit will the firm earn? (C) Find the marginal cost as X.PRICE (Dollars per room) 500 450 400 350 300 250 200 150 100 50 0 0 Demand + 50 100 150 200 250 300 350 400 450 500 QUANTITY (Hotel rooms) Graph Input Tool Market for Oceans's Hotel Rooms Price (Dollars per room) Quantity Demanded (Hotel rooms per night) Demand Factors Average Income (Thousands of dollars) Airfare from DSM to ACY (Dollars per roundtrip) Room Rate at Meadows (Dollars per night) 300 200 40 200 rooms per night to ,hotel rooms at the Oceans and hotel rooms at the Meadows are 200 For each of the following scenarios, begin by assuming that all demand factors are set to their original values and Oceans is charging $300 per room per night. If average household income increases by 50%, from $40,000 to $60,000 per year, the quantity of rooms demanded at the Oceans rooms per night to rooms per night. Therefore, the income elasticity of demand is Oceans are ? from meaning that hotel rooms at the If the price of a room at the Meadows were to decrease by 20%, from $200 to $160,…How do we calculate the total amount of pagecant costs, price profit, profit make up and selling costs
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