that the fixed costs are $5780 per week and the cost of producing each set of clubs is $73.00. Each set of clubs can be sold for $243.00. a. Write the revenue function. b. Write the cost function. c. Write the profit function. d. Find the break-even point.

When a firm produces one unit, the variable cost is $3. When the firm produces two units, the variable cost is $6. What is the marginal cost associated with two units of production.

Opportunity costs (please choose all the answers that are correct)     would be the same as outlay costs if the alternative were chosen     are only hypothetical     are measured with the cost of the alternative     reflect a clear choice of the next best alternative     are "shadow" costs of forgone alternatives     increase as alternative become more attractive

If a Prof leaves their $100,000 per year job to start a business that earns annual revenue $400,000, and has annual labour and rental costs of $200,000, the economic profit of the business is $200,000. True or false and explain why. Use graphs if needed.

Variable costs are Multiple Choice costs that remain to be paid even if the firm shuts down temporarily. costs that change every day or every month. costs that change with the level of production. changes in total cost due to the production of an additional unit of output.

What would be the profit of a firm who generates a total revenue of $3300 and the cost incurred is $2900

The explicit cost of the firm is $800, implicit cost is $550 and the total revenue is $3000 Calculate the economic profit

Total Revenue function = 164x Total Cost function = 0,01x2+20x+300 x shows unit of production. Find : a. how much x we need to produce to reach maximum profit b. maximum profit c. prove why the x you get will reach maximum profit

What is Product Expansion?

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.