Effie the entrepreneur takes 1.5 hours to bake a batch of cupcakes and she bakes 300 batches per year. She uses a special oven that will last forever and could be sold for $15,000 at any time. Effie could earn $25 per hour as a personal trainer. The interest rate is 8 percent. Given her current output level, her average cost is $. 33.5 40.5 37.5 O41.5

You own a farm that requires spending of $93,318 to generate $275,393 per year. You discover that your farm is sitting on top of an oil-field that could generate $150,186 per year. Your economic profit of continuing to farm on the land is: (your answer must be rounded off to the nearest dollars, i.e., no decimal places

You own a company that produces widgets. You currently produce 100 widgets; each widget sells for $100 and costs $80 to produce. You are considering increasing your company's production by one unit, upping the total to 101 widgets. At this level of production, total revenue will increase to $10,100, and total costs will increase to $8,120. Based on the given information, and considering you are a good entrepreneur and economist who wants to maximize profit, you should... A. Sell less than 100 units B. Not produce unit 101 C. Produce unit 101 D. Produce 150 units

You leave your $50,000 a year job and invest your savings of $40,000 (on which you were earning 10 percent annual interest) to start your own business. In the first year, your business generated $100,000 in total revenue and had to pay $40,000 in explicit costs. The economic profit generated by this gym was $60,000 $10,000 O $6,000 greater than your accounting profit because economic profit is always greater than accounting profit.