What is the formula to calculate profits?

Please make sure to answer part C

22. What does the Long Run Average Cost curve depict? a) It depicts the relationship between Average (Total) Cost and quantity produced when at least one input is fixed b) It depicts the relationship between Average (Total) Cost and the scale of operation in the long run c) Both a) and b) are true d) Neither a) nor b) is true 24. Assume that you start your own business producing clay pots and hire workers to start production. The first worker produces 20 clay pots a day, and when your hire the second worker, total production increases to 48 clay pots a day. What is the marginal product of labour for the second worker? a) 20 b) 28 c) 68 d) 34

What is the average total cost of producing 300 LCD​ screens?

image 1 : This chapter discusses many types of costs: explicit costs, implicit costs, total cost, average fixed cost, average variable cost, and marginal cost.    Fill in the type of cost that best completes each sentence.   Profits equal total revenue minus  (average fixed cost , average variable cost , explicit cost , implicit cost , marginal cost , total cost)   The term (average fixed cost , average variable cost , explicit cost , implicit cost , marginal cost , total cost)    refers to costs that involve direct monetary payment by the firm.   (average fixed cost , average variable cost , explicit cost , implicit cost , marginal cost , total cost)    is falling when marginal cost is below it and rising when marginal cost is above it.   The cost of producing an extra unit of output is the (average fixed cost , average variable cost , explicit cost , implicit cost , marginal cost , total cost)   .   (average fixed cost , average variable cost , explicit cost ,…

Which of the following cost behavior assumptions is false? (You may select morethan one answer.)a. Variable cost per unit increases as the activity increases.b. The average fixed cost per unit decreases as the activity increases.c. Total variable costs decrease as the activity decreases.d. Total fixed costs remain the same as the activity changes (within the relevant range).

Cost (dollars) 150 100 50 0 5 10 D $15 20 B Output (teapots per day) 5. Refer to Figure above. Which one of the following statements are [TRUE/FALSE]? 0 A. The vertical gap between curves B and C is equal to average variable cost. [TRUE/FALSE] 0 B. Average fixed cost decreases with output. [TRUE/FALSE] 0 C. Line B comes closer to line C as output increases because of a decrease in average fixed cost. [TRUE/FALSE] D. The vertical gap between curves B and C is equal to average fixed cost. [TRUE/FALSE] 0 E. Curve D is the marginal cost curve. [TRUE/FALSE]

Question 19 of 20 > (TC is total cost; VC is variable cost; Q is quantity.) ΔΤC . а. b. The amount by which total cost increases when an AQ additional unit is produced: Marginal cost Average (total) cost Average variable cost TC d. The total cost divided by the quantity of output: с. e. The change in total cost divided by the change VC f. in output: g. The sum of all costs that change as output changes divided by the number of units produced:

Calculate total costs at 4 units of output.  Do not put a dollar sign in your answer.  (The 6 columns are Quantity, Total Fixed Cost, Total Variable Cost, Total Cost, Average Total Cost, and Marginal Cost.  The Quantity and Total Variable Cost columns have been filled in along with the first row for Total Fixed Cost.  Average Total Costs and Marginal Costs are not calculated at a quantity of 0.) Quantity Total Fixed Cost Total Variable Cost Total Cost Average Total Cost Marginal Cost 0 15 0   XXXXX XXXXX 1   25       2   40       3   50       4   55       5   65       Calculate average total costs at 2 units of output.   Calculate average total cost at 5 units of output.   Calculate marginal cost at 4 units of output (moving from 3 units to 4 units).   Can you tell if this is the short run or long run?    Can you tell at which level of output profits will be maximized?

I figured out the fixed variable cost, however I can't understand how to do the bottom part.