Question 5 If a firm earns an accounting profit of $20 million and has implicit costs of $6 million, what is the firm's economic profit? $26 million. O $14 million. O $22 million. O $20 million.

Q: If Mexican exports to Canada decline by $14 billion, by how much will Mexico's aggregate spending dr...

A: Aggregate Spending = Aggregate Expenditure = Consumption Exp (C) + Investment Exp (I) + Govt Exp (G)...

Q: Explain profit maximisation. Discuss price discrimination and the role it plays in perfect competit...

A: Perfect competition refers to the form of market structure that consists of large sellers of a singl...

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A: Mercosur was created in 1991 as a procedural and economic group that was open and active. Since its ...

Q: Determine the total amount of an investment of $9750 for 25 years, at an interest rate of 7.2% compo...

A:

Q: A man is considering investing P500, 000 to open a semi-automatic auto-washing business in a city of...

A: Dear learner you have posted a question with multiple sub parts, as per our policy we have solved on...

Q: If a $20 increase in disposable income causes consumer spending to rise by $4, what is the multiplie...

A: The economics a study is based upon the idea that the resources which are present with the economies...

Q: Ricky's Donuts sells premium donuts.  Premium donuts have toppings. The demand for premium (PR) don...

A: Given: PPR= 5.70 - 0.45QPR MCPR= 0.20

Q: A vacuum cleaner dealership sold 440 units in 2011 and 423 units in 2012. Find the percent increase ...

A:   Percentage change=Year2012-Year2011Year2011                            =423-440440                ...

Q: ___ are now the largest single component of the supply side of GDP, representing over half of GDP. ...

A: Gross domestic product refers to total goods and services produced within the economy within the giv...

Q: Consider a pair of Nike shoes. Is the consumption of Nike shoes rival and excludable? The consumptio...

A: Rival : means consuming a good by one person, lefts nothing for other. Excludable: if someone is not...

Q: 1. If Ysabelle borrowed money from Nina with a simple interest rate of 12%, determine the present wo...

A: “Since you have asked multiple question, we will solve the first question for you. If you want any s...

Q: The following table gives nominal GDP, real GDP, and the population for two years. Find per capita r...

A: Gross Domestic Product  is the sum of all value added of a given economy. Value added is the differe...

Q: An investment of $100,000 in safe 10-year corporate bonds yields an average of 9% per year, payable ...

A:

Q: 3. Your income in Year 1 is R50 000, in Year 2 it is R100 000, in Year 3 it is R120 000, in Year 4 i...

A: The permanent income hypothesis of Milton Friedman (1957) extends Fisher's analysis to a model with ...

Q: Over time how do changes in the demand for loanable funds and the supply of loanable funds change th...

A: A loanable funds market is the place where firms make demand for loanable funds and household make s...

Q: Saudi Arabia has huge oil reserves, but relies on the United States for oil rigs to extract the oil....

A: Given:  Saudi Arabia has huge oil reserves.  It relies on U.S.A for oil rigs to extract the oil. 

Q: In Country A, it is popular for the citizen to have a glass of orange juice together with a piece of...

A: It refers to those types of goods that can be used together. These goods have a direct relationship ...

Q: 5. Free-trade benefits In addition to the positive welfare effects that free trade has on an economy...

A: The international market is the platform for countries to make an exchange of goods and services amo...

Q: A man wants to make 14% nominal interest compounded semiannually on a bond investment. How much shou...

A: The interest rate before inflation is referred to as the nominal interest rate. If a loan's marketed...

Q: Explain the impact of Minimum wage laws on the labor supply, and provide statistical data for the sa...

A: The law of demand applies in labor markets thusly: A more significant payor wage-that is, a greater ...

Q: For this cost function, Marginal Cost = MC = 10 q. %3D 45) Fill in the table with your values from y...

A: Fixed cost is independent of output produced whereas variable cost varies with the level of producti...

Q: Price Quantity Demanded Quantity Supplied Dollars per unit) (Units) (Units) 36 12.00 10.00 3 30 8.00...

A: The curve that depicts various qunatities of godos and services being demanded by individuals at dif...

Q: Suppose that the production function for the economy is given by: Y = AL/3K/3 Suppose that this econ...

A: Aggregate demand is the total demand of the economy and aggregate supply is the total supply of good...

Q: We need to know the profitability of a business model: - 3 x machines (beauty machines) - Each machi...

A: In the mentioned question we have been asked the total expected income for the week.

Q: The selling of formerly government owned industries to individual investors is known as?

A: Liberalization, Privatization, and Globalization (LPG) are three terms that describe the process of ...

Q: A government official announces a new policy. The country wishes to eliminate its trade deficit, but...

A: An administration official declares another strategy. The goal is to take out its import/export imba...

Q: How are Milton Friedman’s theories applied?

A: Economics is the study of scarce resources. It means the resources are limited and our wants are unl...

Q: Firzaowns 3 iced milk coffee bottlesand 9 toasted bread while Razi owns 8 iced milk coffee bottles a...

A: If two people have utility functions for two things as well as endowments for the two goods. The Edg...

Q: Consider the following cost information for a pizzeria: Quantity Total Cost Variable Cost (Dozens of...

A: Fixed cost is the cost of production that doesn't vary with the level of production and exits even w...

Q: answer only question 3 pls

A: The long-run aggregate supply curve shows that the price level and total quantity of goods and servi...

Q: A man purchased a share or Stock for P135.OO six years ago and has received a dividend of P6.00 at t...

A: The rate of return is the return. an investors receive on his or her capital duriñg a period of time...

Q: What are John Maynard Keynes economic theory’s general principles?

A: The theories of John Maynard Keynes, called as Keynesian economics matters, base on the possibility ...

Q: 6. The market for fertilizer is perfectly competitive. Firms in the market are producing output but ...

A: Quantity delivered refers to the number of things or services that a supplier will make and sell at ...

Q: An economy currently has a separation rate s = 5% and a job-finding rate f = 74%. Suppose the govern...

A: The labor market is the market in which the labor demand is equal to the labor supply curve. The lab...

Q: a farmer in Georgia begins to grow peaches. He uses $1.000.000 in savings to purchase land. he rents...

A: Both Economic profit and Accounting ptofit solved below,

Q: What is the future worth of P600 deposited at the end of every quarter for 4 years if the interest i...

A:

Q: Problem 3. Analyze the general equilibrium effects of an increase in taxes. Illustrate your answer w...

A:  IS-LM, is an acronym that stands for "investment savings-liquidity preference-money supply." The mo...

Q: What were Milton Friedman’s economic theory’s general principles and who did he advise?

A: Milton Friedman was basically an American economist who advocated for free market capitalism.During ...

Q: An investment of $100,000 in safe 10-year corporate bonds yields an average of 9% per year, payable ...

A: First Of all we will calculate nominal interest rate after tax:-

Q: Which of the following is included in GDP calculations?     a crisp $50 bill received on your birt...

A: Gross Domestic Product (GDP) measures the market value of all final goods and services produced by a...

Q: nduras allows interrational trade in the market for soybeans, it will import tons of soybeans. suppo...

A: Equilibrium is achieved at the output level where Qs equals Qd

Q: For the demand function q= D(p)%3D201-p, find the following. a) The elasticity b) The elasticity at ...

A: According to the Bartleby guidelines, we answer only the first question in case of multiple question...

Q: Civilian Employment = 157722 Unemployment = 6270 Not in Labor Force = 99333   Use the values abo...

A: Answer is given below

Q: and Cheryl are competitors in a small town and each is trying to decide if it is wrtl advertise. If ...

A: Payoff matrix as follows.     Jim       Advertise Not Advertise Cheryl  Advertise (10,000 10,...

Q: 2. Given: Q 100K".“L08; w = 50; r = 80; Qo = 2,000 w a. Solve for the MRTSK and the market rate of e...

A: Answer is given below... 

Q: Q2. a. Explain why depreciation is important in Economic analysis b. A machinery worth Rs 30,000 has...

A: a.) Depreciation is basically the loss of an asset's value over time.It is significant because it de...

Q: Assume that this is the cost function for a perfectly competitive firm: Cost (q) = 5 q² + 20 For thi...

A: Answer: The following formulas will be used: AVC=VCqAFC=FCqATC=TCq    (TC=total cost)MC=dTCdqVC=TC-F...

Q: True/False: One of the advantages of saving money in banks is for safekeeping. In cases of fires, b...

A: Banks refer to the financial institutions that accept deposits from the consumers and lend them to b...

Q: A friend of yours mentions to you that his PIBP for a shirt is a range of $40-$50. What argumen can ...

A: This answer is as follow

Q: In Virginia, in 2019, if you made $10,000 a year in income, you paid $120 + 5% of excess over $5,000...

A: A tax is a necessary fee or a type of monetary charge that is imposed by a government on a person or...

Cost of Production

In economic theory, production costs are the costs incurred by an industrial organization when it engineers a project or provides a service that generates revenue and benefits. Labor costs, raw materials, consumable manufacturing costs, and general overhead sum up, accounting for production costs. Total cost data is calculated by combining total direct costs of materials, labor costs, and total production costs.