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- a. ABC Company produces 100 pendants per day. The total fixed cost for the plant is $5000 and the total variable cost is $15000 per day. Calculate the average fixed cost, average variable cost, average total cost and total cost at the current output level.b. Calculate Economic profit and Accounting profit from the figures given below for ABC Company. • Total revenue $ 500,000• Wages and salaries $ 40,0000• Forgone salary $ 80,000• Interest paid $ 10,000• Forgone rent $ 10,000• Raw materials $ 50,000• Other payments $ 20,000• Forgone interest $ 7,0005d What is the relationship between accounting profit and economic profit? Which is relevant for a firm’s decision to continue production and why? Give examples as to what may cause a divergence between accounting and economic profitText Problem 24-1bc Question Help v Given the information in the table at right, calculate the dry cleaner's marginal revenue (MR) and marginal cost (MC) at each output level. (Your answer should be rounded to the nearest cent.) Price Total Output (Suits Cleaned) Suit ($) (S) Total Costs Revenue (S) per MC ($) MR ($) 8.00 3.00 0.00 1 7.50 6.00 7.50 2 7.00 8.50 14.00 3 6.50 10.50 19.50 4 6.00 11.50 24.00 5 5.50 13.50 27.50 6 5.00 16.00 30.00 4.50 19.00 31.50 8 4.00 24.00 32.00 OOD D IOOD
- A clothing merchant purchases a shipment of clothes for $38,000.00 with discounts of 11% and 5%. He sells it to a customer at a price which includes 22% profit on selling price and overhead expenses of 23% on selling price. a. How much did it cost him to purchase the container of clothes? b. What was the selling price of the container of clothes? c. Calculate the break-even selling price.Explain Marketing environment (micro and macro) that affect the OMAN LNG company's product / services?ЕОС 13.5B Morgan took $400 000 out of their savings account to start an ice cream stand. The savings account paid 5% interest. In the first year, Morgan sold 12,000 batches of ice cream at a price of $3 each, and incurred costs of $12,000 which involved outlays of money. What was Morgan's economic profit in the first year?
- a. ABC Company produces 100 pendants per day. The total fixed cost for the plant is $5000 and the total variable cost is $15000 per day. Calculate the average fixed cost, average variable cost, average total cost and total cost at the current output level. b. Calculate Economic profit and Accounting profit from the figures given below for ABC Company. Total revenue $ 500,000 Wages and salaries $ 40,0000 Forgone salary $ 80,000 Interest paid $ 10,000 Forgone rent $ 10,000 Raw materials $ 50,000 Other payments $ 20,000 Forgone interest $700010. If a firm is choosing to operate that means they have a a. positive accounting profit b. Positive or 0 economic profit c. Positive total revenue d. None of the above3. Suppose that the total revenue function for a commod- ity is R = 64x- 0.02x². (a) Find R(100) and tell what it represents. (b) Find the marginal revenue function. (c) Find the marginal revenue at x = 100 and tell what it predicts about the sale of the next unit and the next 3 units. (d) Find R(101) - R(100) and explain what this value represents.
