How to Determine "Accounting Profit"

Q: Calculate profits given:- Total revenue = $10,000 Total cost = $7700

A: The data presented in the question above is:- Total revenue = $10,000 Total cost = $7700 Using this…

Q: If a firm has an accounting profit it must have an economic profit. O True

A: Profit = total revenue - total cost

Q: Quantity 0 1 2 3 4 5 6 TC(in $) 5 10 13 18 25 34 45 Calculate MC, AVC, ATC for the firm ?

A: Answer: Quantity Total cost Marginal cost (using total cost) Variable Cost (Using marginal…

Q: Gomez runs a small pottery firm. He hires one helper at $12000 per year, pays annual rent of $5000…

A: Accounting profit is the net profit of a firm which is total revenue minus explicit costs. Economic…

Q: The equilibrium rent on office space has just increased by $500/month. Compare the effects on…

A: The profit is the excess revenue made by the firm which can be calculated after deducting the cost…

Q: Carson used $800 000 of their savings to open a coffee shop. The savings account paid 2% interest.…

A: We know that the economic profit is the difference between the total sales revenue of output and the…

Q: David runs his own business. He received an offer from a company for $50,000 per year. If he sells…

A: Accounting profit is the revenue earned by the company after the reduction of all the explicit cost.…

Q: Calculate explicit cost given:- Accounting profit = $6600 Total revenue= $10,000

A: The data presented in the question above is:- Accounting profit = $6600 Total revenue= $10,000 Using…

Q: How would you describe the various functions of Management? Consider yourself as a manager of Cherat…

A: Communication is the process in which information is exchanged with each other with the help of any…

Q: 20. If there are implicit costs of production Economic profit will be equal to accounting profit A.

A: Accounting profit is calculated by using the formula revenue minus expenses that is the net income…

Q: Morgan took $400 000 out of their savings account to start an ice cream stand. The savings account…

A: Given:Implicit cost:=4,00,000*5%=$20,000Explicit cost=Incurred cost=$12,000Total…

Q: Accounting profit = ? Total revenue = 8304 Explicit cost = 7231

A: Basically in the question, Total revenue value is = 8304 Explicit cost = 7231 Value of accounting…

Q: derivative of the firm's profit function is F′(x) = −0.03x2 + 3x - 100, where x ≥ 0 is the output…

A: Profit is the difference between Total cost a nd total revenue . And in this case the marginal…

Q: What is the difference between Economic Profit and Accounting profit?

A: Explicit Cost is the cost paid to factors of production that are hired from outsiders. Implicit Cost…

Q: Define the term cost of revenue?

A: Revenue is defined as the amount of money or income generated by a firm for a given period of time.…

Q: A firm's economic profit is equal to a. total revenue minus accounting profit. b. accounting profit…

A: Explicit cost is the actual monetary expenditure. Implicit cost is the opportunity cost of doing any…

Q: 1.4 A firm earning zero economic profits is probably suffering losses from the standpoint of general…

A: Accounting profit is the difference between the total revenues from the sale of the product and the…

Q: (a) Determine Consolidated's total profit function.

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

Q: Hi! help me with this please. Thank you so much! TRUE OR FALSE. EXPLAIN. A negative sunk costs…

A: Meaning of Cost: The term cost refers to the situation under which a firm occurs various expenses…

Q: How can we Determine Accounting Profit?

A: Profit is the income that the fourth factor of production, i.e. enterprise, generates from an…

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: Assume that although Marrow firm is presently making accounting profit it is experiencing negative…

A: A direct cost incurred for the firm to others in the process of running a business is referred to as…

Q: Calculate accounting profit given:- Total revenue = $3000 Explicit cost = $3000

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

Q: Your aunt is thinking about opening a hardware store. She estimates that it would cost $500,000 per…

A: Accounting profit does not take into account the opportunity cost. Accounting Profit = Total Revenue…

Q: Calculate accounting profit if :- Total revenue = $3000 Explicit cost = $3000

A: The data presented in the question above is:- Total revenue = $3000   Explicit cost = $3000…

Q: If a firm makes zero economic profit, then the firm a) earns revenue that exceeds its economic…

A: Formulas of economic profit and accounting profit.  Accounting profit = Total revenue - Explicit…

Q: Bette's Breakfast, a perfectly competitive eatery, sells its "Breakfast Special" (the only item on…

A: Here, The price is $5 The average variable cost is $3.95. The average fixed cost is $1.25. That…

Q: WHat happens when a company does not follow economic heory and charges prices below the marginal…

A: Marginal revenue: It is the revenue that is being generated when an additional unit of output is…

Q: Explain with example Operating Activities?

A: Cost of production: The cost of production refers to the amount spend or the cost of producing the…

Q: what refers to actual losses as well as unrealized profit?

A: Actual loss on costs brought about is the sum that your costs have expanded from what you would…

Q: ESTIMATE THE AMOUNT OF INPUT TO MAXIMIZE THE PROFIT WHEN MFC (2) = MVP (0.92)

A: Profit: It refers to the revenue or extra income of the firm. The more the profit the firm is…

Q: Define the term Unit-Profit?

A: The profit that is earned per unit of the output is known as Unit-Profit. Clearly, the profit that a…

Q: What is the difference between economic profit and accounting profit?

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

Q: An air conditioner outlet finds that if it sells x air conditioners per month, its costs will be C…

A: All the parts have been solved below.

Q: QUESTION 4 A firm's economic profit is usually higher than its accounting profit True False

A: A firm starts its business operations in order to earn higher revenues and maximize its profits. A…

Q: economic profit is smaller than accounting profit because of implicit cost---- a) none of the above…

A: Implicit costs are the ones that are not shown separately even though they have occurred already.…

Q: 27. A firm earns economic profit when total profit exceeds

A: To find : When do firm earn profit.

Q: year to rent the location and buy the merchandise. In addition, he would have to quit his $63000 per…

A: A economic benefit or loss isthe distinction between the income got from the offer of a yield and…

Q: 6 If a company’s total revenue is $1,744,322, their explicit costs are $863,214, and their…

A: "When firms produce commodities or services they get revenue from sales of their products but they…

Q: Find the level of the accounting profit Explicit cost is given as = $ 130 Total revenue = $ 190

A: Generally in the given question Explicit cost value is = $130 Total revenue value is = $190…

Q: Reggie owns and operates a cheese shop in the village of Somerset. Although Reggie has a degree in…

A: A firm maintains a record of its profit in two ways that are accounting profit and economic profit.…

Q: How is it possible to have positive accounting profit and negative economic profit concurrently?

A: Answer: Let us first understand the difference between accounting profit and economic profit.…

Q: Please explain the following i. Differentiate between Accounting Profit and Economic Profit ii.…

A: Profit is simply excess revenue over cost. Profit = Total revenue - total cost  It is primarily of…

Q: Calculate accounting profit given:- Total revenue = $4500 Explicit cost = $4500

A: Given:  Total Revenue = $4500 Explicit Cost = $4500

Q: Marginal revenue product is measured by:  mr ' price mr ' mc tr/mp mp ' price tc/mp

A: A market is a place where the buyers and the sellers interact with each other and the exchange of…

Q: a. Refer to Table calculate explicit costs for this firm? b. Refer to Table calculate implicit costs…

A: a. Explicit costs are resulted from the production process or these are direct costs of the…

Q: Plot a diagram showing how a break–even point is determined in a firm

A: Any firm main objective is profit maximization and a firm maximizes its profit by producing at an…

Q: The firm producing 6 units  iPhone in a hour and selling it at $500. What is firm total revenue.

A: Given, number of iPhones = 6units Selling price = $500