Gloria decided to open her own business and earns $50,000 in accounting profit the first year.  When deciding to open her own business, she turned down three separate job offers with annual salaries of $50,000, $60,000, and $70,000.  What is Gloria's economic profit from running her own business?    Question 5 options:   a)  -$75,000   b)  -$20,000   c)  $20,000   d)  none of the above

ork (5.3) Part 1 of 3 A manufacturing company makes two types of water skis, a trick ski and a slalom ski. The relevant manufacturing data are given in the table. Labor Hours per Ski Maximum Labor-Hours Available per Day 120 25 Department Fabricating Finishing Answer parts (A), (B), and (C) below Trick Ski 5 1 Slalom Ski 4 1 CITT (A) If the profit on a trick ski is $50 and the profit on a slalom ski is $60, how many of each type of ski should be manufactured each day to realize a maximum profit? Wh is the maximum profit? The maximum profit is $ The maximum occurs when trick skis and slalom skis are produced. 4

Suppose that a small hair styling salon had revenues of $200,000 in a given year. The owner spent $15,000 on utilities, $72,000 on supplies (shampoo, conditioner, hair coloring and other chemicals, etc.), and $60,000 on equipment (mirrors, chairs, scissors, curling irons, etc.), including maintenance. The owner could have earned $70,000 working at another salon. A) What is the accounting profit for the hair styling salon? B) What is the economic profit for the hair styling salon? C) What would revenue have to be for the owner of the hair styling salon have to be for him to earn an economic profit of $10,000.

8.1 The fixed costs at Harley Motors are $1M annually. The main product has revenue of $9.90 per unit and $4.50 variable cost. This question is in three parts. Part 2: What is the annual profit (or loss) if 150,000 units are sold? (if a profit, use a positive number and if a loss, use a negative number; do not use commas or $ signs in your answer)

Only typed answer

Desmond works as an accountant making $80,000 per year. He is considering leaving his job to open an artisanal cheese shop. He estimates that he will need to spend $20,000 per year on space, $10,000 per year on supplies and $40,000 per year on staff. The shop will earn will earn $120,000 per year in revenue. Assuming his estimates are accurate, what will Desmond's accounting profit be? Assuming his estimates are accurate, what will Desmond's economic profit be? Please enter your solution without commas, dollar signs, or cents.

Question 7 of 20 Total Total Average Average Average Fixed Variable Total Marginal Variable Fixed Cost $200 Output Total (Q) Cost Cost Cost Cost Cost Cost $0 $200 $200 $150 $350 40 $200 $250 $450 60 $200 $450 $650 80 $200 $800 $1,000 For the cost data shown above, what is this firm's Average Total Cost (ATC) when Output (Q) is 80? $12.50 $1,000 $11.25 O $10.83 20

Number of Baskets of Fish (per hour) 0 1 2 3 4 5 Price $13 13 13 13 13 Total Revenue $0 13 26 39 52 65 Total Cost $10 15 22 31 44 61 Total Profit $-10 -2 4 8 8 4 Marginal Cost basket(s) of fish basket(s) of fish basket(s) of fish $5 7 9 13 17 Given the information in the table above about fish production, answer three questions. Instructions: Enter your responses as whole numbers. Indicate negative responses with a (-) negative sign. What rate of output a. Maximizes total revenue? b. Maximizes profit per unit? c. Maximizes total profit? (Note: Choose the higher level of output.)

I DO NOT NEED THE TABLE INSTEAD I NEED THE ANSWERS TO THE QUESTIONS BELOW Quantity of Output Total Variable Cost Total Cost Marginal Cost Average Fixed Cost Average Variable Cost  Average Total Cost  1 $20           2 $35           3 $45           4 $60           5 $80           6 $105           7 $140           8 $185           9 $250           10 $340           Imagine yourself running a pizza restaurant over a short term horizon. Think about the following potential changes in your costs. For each, try to discern which would affect your fixed costs from those that are variable costs. Specifically, how would each scenario shift your Average Variable Cost, Marginal Cost, and Average Total Cost curves? Explain your answers. The wages of hourly workers increase The cost of cheese increases The rent on the building housing your restaurant increases The price of gasoline (for pizza delivery) decreases

Thinking on the Margin to Increase Profitability Have you ever walked into a restaurant for lunch and found it almost empty? Why, you might ask, does the restaurant even bother to stay open? It might seem that the revenue from so few customers could possible cover the cost of running the restaurant. Provide an opinion using the concepts of sunk costs, marginal cost and marginal revenue.