ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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If marginal profit is $32 and marginal revenue is $50
Find Marginal cost
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- Rob quit his $4,000/month coffee shop position and started an ice-cream business. Rob does not get paid a salary for running the ice-cream business. When calculating the economic profit of the ice-cream business, his old $4,000 coffee shop salary is Select one: a. counted as part of the total revenue. b. counted as part of the implicit costs. c. counted as part of the explicit costs. d. ignored.arrow_forwardFind marginal profit when marginal revenue is $90 and marginal cost $50arrow_forwardI need answer typing clear urjent no chatgpt i will 10 give upvotearrow_forward
- In perfect competition, if the marginal cost increases which way does the curve shift? what are some things that would increase the marginal cost curve and if the MC curve shifts then does the ATC curve?arrow_forwardI need typing no chatgpt used please i will give 5 upvotesarrow_forwardDefine the term "sunk costs" and illustrate with an example. View keyboard shortcutsarrow_forward
- If marginal profit is $33 and marginal revenue is $80 What's the value of Marginal costarrow_forwardCalculate the value of marginal cost when marginal revenue is $87 and the Marginal profit is $20arrow_forwardCalculate Marginal profit given that marginal revenue is two times that of marginal costarrow_forward
- Explain why a company would shut down in the short run.arrow_forwardNimbus, Inc., makes brooms and then sells them door-to-door. Here is the relationship between the number of workers and Nimbus' output during a given day. I have completed the first two rows. Workers Output Marginal Total Average Marginal Product Cost Total Cost Cost $200 1 20 20 $300 $15 $5 2 50 30 $400 $8 $3.33 3 90 40 4 120 30 140 20 150 10 7 155 5arrow_forwardWhy is the existing firm experience will get normal profit in the long run?arrow_forward
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