The economic profit is $3000, Total revenue is $5000, explicit cost is $800  Calculate implicit cost

Q: What is the relationship between the firm,total revenue,total profit and total cos

A: Costs are the expenses that the firms have to incur in their production activities. Revenue is the…

Q: Refer to the figure above, what happens to the average fixed cost of production when the firm…

A: Cost can be defined as a concept that shows the amount of expenditure and any other sacrifice such…

Q: When marginal cost is greater than average variable cost, average variable cost i v (Click for List)…

A: Marginal cost is defined as the extra coat a firm incurs by employing an extra unit of input.

Q: Find the value of the profit when the total revenue is $65 billion and total cost is $25 billion?

A:

Q: Fill in the missing values for total fixed cost, total variable cost, and total cost in the table…

A: Here, the given table provides information about total fixed cost, total variable cost and total…

Q: Find economic profit if total revenue is $4000 , explicit cost is $700 and implicit cost is $500

A: The data presented in the question above is:- Total revenue = $4000 Explicit cost = $700 Implicit…

Q: What is the total revenue when output is 1, total cost is 35, marginal cost is 10, fixed cost is 25,…

A: Rеvеnuе rеfеrs to thе total incomе gеnеratеd by a businеss or an individual through thе salе of…

Q: This is a graph of our firm’s costs. Label the lines on the graph using the following labels:…

A: The Average fixed cost is constantly declining. The average variable cost curve is lower than the…

Q: Calculate Marginal cost when total cost rises from $30 to $70 and the output rises 2 to 3 units

A: We are given that the total cost has increased from $30 to $70 TC1 = $30  TC2 = $70 Output has also…

Q: If profit of the firm is $1090 and total cost is $4300 Calculate the value of total revenue

A: The given information is as follows:- Profits of the firm = $1090 Total cost of the firm = $4300 We…

Q: When output increases from 10 to 11, total cost increases from $60 to $65. Fill in the blank. Round…

A: The additional cost incurred in the creation of extra units of goods or services, most frequently…

Q: With the aid of label diagrams explain the law of diminishing marginal returns

A: The law of diminishing marginal returns states that as the variable input is increased, the…

Q: The increase in total cost that results from producing one more unit of output is the marginal cost.…

A: The firm produces various goods and services which incurs cost. The firm would result in the…

Q: computation and give illustration through diagram • Behavior of Variable and Fixed Cost • Marginal…

A: Cost is the expense incurred to any business to produce any good or services. Th cost can be broadly…

Q: The total cost changes from 92 to 122 and the quantity changes from 1 to 2 Calculate the value of…

A: # change in total cost divided by the change in total quantity is referred to be as the marginal…

Q: Calculate the output when the average revenue is $500 and the total revenue is $3000

A: We know that the formula for average revenue is:- AR = Total revenue / output

Q: If average cost for Ruby's chocolate production firm is $23 and the output is 1000 units.…

A: The data being presented in the question is:- Average cost for ruby's firm = $23  Output = 1000…

Q: Use the information in the graph level of 500. a. Total fixed cost b. Total variable cost c. Total…

A: Total fixed costs refers to the total expenditure which remains fixed at all levels of output. It…

Q: The value of average cost is $80, the value of average variable cost is $49 Calculate the value of…

A: We know that the total cost is given as:- TC = TFC + TVC Dividing both sides with output:- AC = AFC…

Q: Calculate average revenue when it is given that Total revenue is $70 and output is 5 units

A: Given information is as follows:- Total revenue = $70 Output = 5 units We need to find the value of…

Q: If economic profit is $5000, explicit cost is $1200, total revenue is $7000 Calculate the value of…

A: The given information is as follows:- Economic profit of the firm = $5000 Explicit costs = $1200…

Q: Implicit cost is $200, explicit cost is $260 and total revenue is $800  Calculate the Economic…

A: The information given to us:- Implicit cost of firm = $200 million Explicit cost of firm = $260…

Q: The graph shows the cost curves are they profit maximizing firm in a competitive market. If the…

A: In a competitive market, there are a large number of sellers and buyers who have full information…

Q: If average cost is $30 and the total cost is $900 What output must the firm have produced

A: Total Cost(TC) is the total amount incurred by the firm in production of given quantity. Average…

Q: Minimum average costs occur when: Select an answer and submit. For keyboard navigation, use the…

A: When firms operate in a market, they incur fixed costs and variable costs. Fixed costs do not depend…

Q: If marginal cost and marginal revenue are $30 and $44  Find marginal profit

A: According to the above mentioned question, the values are:- Marginal cost = $30 Marginal revenue =…

Q: Fill in the table  What are the profit-maximizing price and quantity, and what profit will be…

A: We use the following formulas to solve the missing values in the table: 1) Total Revenue = Price…

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

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

Q: If total revenue is $300 and output is 10 units Find average revenue

A: According to the above mentioned question, we have:- Total revenue = $300 Output = 10 units  Average…

Q: The rental of property is considered as a. increment cost b. fixed cost c. variable cost d.…

A: Costs refer to the amount that is incurred for using the factors of production to produce goods.…

Q: The total cost changes from 92 to 122 and the quantity changes from 1 to 2 Calculate the value of…

A: Marginal cost refers to the additional total cost derived from an additional quantity produced.…

Q: Given the quantity produced (Q), Total fixed cost (TFC) and Total Cost (TC), (1) calculate Total…

A: Total Cost (TC) is the sum of Total Variable Cost (TVC) and the Total Fixed Cost (TFC). Therefore,…

Q: Given the quantity produced (Q), Total fixed cost (TFC) and Total Cost (TC), (1) Calculate Total…

A: Broadly, Total Cost is the summation of Total Fixed Cost and Total Variable Cost. TFC is the fixed…

Q: What is the total cost and average cost when marginal cost is 120, fixed cost is 25, total revenue…

A: In economics, cost is the value of resources that are used to produce a good or service. This…

Q: Explicit cost is = $900 Implicit cost = $333 Find the economic profit???

A: Generally in the given question The value of explict cost = $900 The value of the implicit cost =…

Q: Calculate TFC if average fixed cost is $30 and output is 50

A: The information being given is:- Average fixed cost = $30 Output = 50 units  Total Fixed cost = ?

Q: Total cost of the firm to produce 50 Pens is 100 dollars with variable cost 25 dollars. Calculate…

A: The total cost of producing pens = $100 Variable costs of producing pens = $25

Q: Calculate average cost if average fixed cost is $33 and average variable cost is $40

A: The information being given is:- Average fixed cost = $33  Average variable cost = $40 Average cost…