Info in images Fill in the blanks in the table below. The problem is a "puzzle" so the blanks are not necessarily filled in sequentially. (Hint: Determinethe total fixed cost first.)Instructions: Enter your answers rounded to two decimal places.TotalAverageFixed CostAverageTotal CostMarginalCostOutputVariableTotal CostCost1$5.00$9.82$9.82$14.82$19.30$12.15$9.48$24.303$1.67$11.15$33.444$1.25$37.27$10.57$8.83$42.27$1.00$45.80$10.16 Gomez runs a small pottery firm. He hires one helper at $13,000 per year, pays annual rent of $5,500 for his shop, and spends$21,500 per year on materials. He has $40,000 of his own funds invested in equipment (pottery wheels, kilns, and so forth) that couldearn him $5,500 per year if alternatively invested. He has been offered $19,000 per year to work as a potter for a competitor. Heestimates his entrepreneurial talents are worth $2,500 per year. Total annual revenue from pottery sales is $75,000.Instructions: Enter your answers as a whole number.Calculate the accounting profit and the economic profit for Gomez's pottery firm.Accounting profit = $Economic profit = $

As per the guidelines, in case of multiplex questions we can answer the first question only, kindly…

Fill in the blanks in the table below. The problem is a "puzzle" so the blanks are not necessarily filled in sequentially. (Hint: Determine the total fixed cost first.) Instructions: Enter your answers rounded to two decimal places. Total Average Fixed Cost Marginal Cost Average Output Variable Total Cost Total Cost Cost $5.00 $9.82 $9.82 $14.82 $19.30 $12.15 $9.48 $24.30 3 $1.67 $11.15 $33.44 4 $1.25 $37.27 $10.57 $8.83 $42.27 $1.00 $45.80 $10.16

Fill in the blanks in the table below. The problem is a "puzzle" so the blanks are not necessarily filled in sequentially. (Hint: Determine the total fixed cost first.) Instructions: Enter your answers rounded to two decimal places. Total Average Fixed Cost Marginal Cost Average Output Variable Total Cost Total Cost Cost $5.00 $9.82 $9.82 $14.82 $19.30 $12.15 $9.48 $24.30 3 $1.67 $11.15 $33.44 4 $1.25 $37.27 $10.57 $8.83 $42.27 $1.00 $45.80 $10.16

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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