Answered: Wing Al corporation produced and sold…

Wing Al corporation produced and sold 600 units of output. The total cost of production was $30,000. Each unit sold for a price of $65. The Wing Al corporation's total revenues are:

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: The demand function of "İsot Capsicum Biber Komandit Şirketi" of Ceylanpınar is: p = 1000 e 2 q…

Q: A shoe company manufactures and sells a pair of shoes with the following cost and revenue data:…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

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: A South African car manufacturer has the following total revenue and total cost structures: T R = 8Q…

A: Profit maximizing quantity is where marginal revenue (MR) equals marginal cost (MC).

Q: The table below shows the short-run cost data of a perfectly competitive firm that produces plastic…

A: Total cost is the cost of producing all the units of good. Marginal cost is the cost of producing an…

Q: The maximum loss a firm should experience in the short run is equal to: a) a) zero b) b) total costs…

A: In the short run, the firm will not exit the market if the average total cost exceeds the price…

Q: The fixed costs for a company are $1,596.00 per month, and their variable cost per unit is $3.20.…

A: Fixed cost = 1596 MC = 3.20

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: Find the economic profit when the total revenue is 21,000 and the total cost is 14,000?

Q: The total revenue function is :- 40Q3 - 3Q2 + 64Q - 100 Find the marginal revenue function

A: We are having the total revenue function which is as follows:- 40Q3 - 3Q2 + 64Q - 100 We have to…

Q: John uses funds from a savings account to pay off his equipment loan the interest rate Mary pays on…

A: Accounting profit is the one which is the explicit profit or the profit one shows on the balance…

Q: Calculate the loss incurred by the firm if the total revenue is $630 and the total cost are $900

A: The information given to us is as follows:- Total revenue = $630 Total cost = $900 Clearly TC >…

Q: The following information belongs to Abdur Rahman’s Company? Sales price per unit $475…

A: Total sales is known as the total amount of money earned by the company by selling a certain units…

Q: he variable cost to make a certain product is $71 per unit. Research indicates that the lowest price…

A: Given, VC = $71 per unit Lowest price = $156

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: The fixed cost incurred by the firm is $315 and the variable cost when second unit is produced is…

A: We are given that:- Total fixed cost = $315 Total variable cost = $55 We have been asked to…

Q: For a juice shop the total revenue is $1000 and the explicit cost is $320 Calculate Accounting…

A: Answer: Accounting profit: accounting profit refers to the difference between the total revenue and…

Q: For a company that manufactures wooden furniture the fixed costs is $900,000 per month. The variable…

A: A variable cost is a corporate expense that changes in proportion to how much a company produces or…

Q: Doug produced 100 donuts but only sold 90 of them. The average cost of production for each donut was…

A: Demand curve represents a negative relationship between price and quantity demanded. Increase in…

Q: The CDE Co. manufactures widgets which it sells for $9.00 each. The variable cost of each unit is…

A: Break - even quantity is the number of units that the firm needs to sell to cover the cost of…

Q: The marginal revenue from the 10th unit is given by the following function:- 2Q2 - 36 Find the…

A: We are given with the marginal revenue function :- 2Q2 - 36 And the quantity is given as 10

Q: Whenever the Total revenue is $31 and the explicit costs is $20 find the Accounting profit.

A: As per the question, Total revenue = $31 Explicit cost is written to be as = $20

Q: Based on the following data for Al-Aqsa Company: (5 Marks) - Price = $10 - Average total cost = $6 -…

A: Average total cost is the ratio of the total cost to quantity. The rise in total cost causes the…

Q: complete the solution for Marginal profit of Y = dProfit /dY = -X - 4Y + 120

A: Marginal profit is the derivative of total profit with research to the quantity. Marginal profit is…

Q: Firm A produces 1,000 units of output at a cost of $16.84 each. Firm A sells 600 units to Firm B for…

A: Consumer spending includes the aggregate amount spent on final goods consumed by consumers or…

Q: What will be the accounting profit of the firm if the total revenue is $1020 and the explicit cost…

A: The information being given is :- Total revenue of the firm = $1020 Explicit cost = $350 We have to…

Q: When the article said that Bird was making 19% gross margin profit, this is

A: Gross margin, a measure of profitability, calculates the difference between sales and costs as a…

Q: Calculate the total revenue if explicit costs of the firm are $400 and the accounting profit is $850

A: Given information is :- Explicit costs = $400 Accounting profit = $850 We need to find the value of…

Q: For a plastic material firm, the total revenue generated for the month of November was $5800 and the…

A: Data for the plastic material firm is:- Total revenue = $5800 Explicit cost = $1250 Accounting…

Q: You have charged your client $8,650 on a cost plus percentage purchase of two sofas, two lounge…

A: The objective of the question is to find out the net price of the occasional tables at a 15% markup.

Q: firm had sales revenue of $1 million last year. It spent $600000 on labor, $150000 on capital…

A: Following is the given information: Sales revenue = $1 million Amount spent on labor = $600000…

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

A: The data presented in the question above is:- A firm's total revenue is = $3300 It's total cost is…

Q: (A) Comment on marginal revenue and marginal cost values when it is given that marginal profit is 0.…

A: Profits are the excess of revenue receipts over the costs incurred by the firm. A firm earn revenue…

Q: CNX electronics produces and sells android cellular phones. Last year it produced 20,000 android…

A: here we calculate the average fixed cost to produce android cell phones , so the calculation of the…

Q: Calculate the Economic profit if revenue is $6000 , explicit cost is $500 and the implicit cost is…

A: The Given information is:- Revenue = $6000 Explicit cost = $500 Implicit cost = $2000 We have to…

Q: What would be the profit earned by the firm if his total revenue is $490 and the total costs are…

A: The information given is as follows:- Total revenue earned = $490 Total costs = $500 Total revenue…

Q: Calculate the Gross Profit Ratio from the following information :- 2010 2011 ales (Revenue from…

A: Gross profit ratio formula: Gross profit ratio =Gross profitsales or revenue

Q: Total revenue is given by the function:- 31Q3 - 20Q2 + 16Q +48 Find the average revenue function

A: The given information is as follows:- Total revenue function is:- 31Q³ - 20Q² + 16Q + 48 We have to…

Question

Wing Al corporation produced and sold 600 units of output. The total cost of production was $30,000. Each unit
sold for a price of $65. The Wing Al corporation's total revenues are:
O $9,000
O $30,000
$32,500
O $39,000
O $65

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

At an output of 3,000 units per year, a firm's total variable costs are $1,000 and its average fixed costs are $2. Its total costs per year are:
The economic profit is $3000, Total revenue is $5000, explicit cost is $800 Calculate implicit cost
Total fixed cost for this firm:
The total profit equation for the firm is p =-500-25x-10x^2 -4xy-5y^2+15y ;x +y =100 .where x and y represents output levels.Us8ng substitution method determine the profit maximizing output levels for x and y .
Complete the cost schedule below for the Ozzie Ugg Boot Co. Total product (Q) Total fixed cost (TFC) Total variable cost (TVC) Total Cost (TC) Marginal Cost (MC) Average fixed cost (AFC) Average variable cost (AVC) Average total cost (ATC) 0 $50 $50 C 1 $80 D 2 B $95 E 3 A $105 F 4 $110 I G 5 $130 H 6 $160 J List the values that you obtained for the letters A to J in your answer (no more than 2 decimal places). What is the most efficient level for the company to produce its product? Why?
Calculate accounting profit given:- Total revenue = $4500 Explicit cost = $4500
Aphria Corporation listed on the Toronto Stock Exchange (TSX) is producing 200 units of output in the short-run. It has ATC of $250, and its AVC are $150. Aphria Corporation's total fixed costs are:
Calculate MC when the firm produces 25 units of outputPlease answer quickly
A soap company sold 250,000 soaps for which the variable cost of manufacture was $4.20 per soap. Each soap contributes 30% of its revenue to fixed costs and profit. This year the company decided to give a price reduction of 5%. How many more soaps will the company have to sell at the 5% price reduction to earn the same profit.
Calculate the total revenue of the firm when it is given that the accounting profit is $600 and the explicit cost is $240
Hi i really need your help with parts c & d in this problem, i provided the work for a & b just need help finishing it off