1- Draw the short-run ATC, AVC and MC curves for a business. Show the supply curve with the prices at which a firm would breakeven and shutdown. Label everything.
2- Show the price and quantity for a perfectly competitive firm that is making a loss in the short run. Also make sure to graph the marginal revenue, marginal, average total and average variable cost curves.
In: Economics
Given a perfectly competitive market structure at the profit-maximizing output level, a firm’s total fixed cost is $32, total variable cost is $174, marginal revenue is $6.60, and the quantity demanded is 38 units. Calculate the firm's profit at the profit-maximizing output level. Show your work. Show your work.
(Show your work to earn credits. No Work, No Credit.)
In: Economics
On June 8, Alton Co. issued an $68,100, 11%, 120-day note payable to Seller Co. Assume that the fiscal year of Seller Co. ends June 30. Using a 360-day year in your calculations, what is the amount of interest revenue recognized by Seller in the following year? When required, round your answer to the nearest dollar.
$624
$1,249
$7,491
In: Accounting
National income measures:
Select one:
a. the amount of wage, rent, interest, and profits income actually received by households.
b. the after-tax income of resource suppliers.
c. the total of all sources of private income plus government revenue from taxes on production and imports.
d. nominal GDP after it has been inflated or deflated for changes in the value of the dollar.
In: Economics
After making a sale, a seller may have customers that return goods. The seller uses the perpetual inventory system. This requires the seller to _____.
A.) reduce sales and cost of goods sold for the period
B.) use historical data to record sales revenue in the amount that is expected to be received
C.) record two adjusting entries to account for the estimated returns
D.) All of the statements are correct.
In: Accounting
Consider a firm with total costs represented by TC=16+Q^2 and a corresponding marginal cost of 2Q (MC=2Q)
1). Graph the ATC and MC, be certain to label the lowest point of the ATC.
Consider that firm faces a price of 12$.
2). Find the optimal quantity.
3). Graph and find the total cost, total revenue, and any profit or loss at the optimal quantity.
In: Economics
Consider a firm with total costs represented by TC=16+Q^2 and a corresponding marginal cost of 2Q (MC=2Q)
1. Graph the ATC and MC, be certain to label the lowest point of the ATC.
Consider that firm faces a price of 12$.
2. Find the optimal quantity.
3. Graph and find the total cost, total revenue, and any profit or loss at the optimal quantity.
In: Economics
1... Andrew Bird invested $30,000 cash to start an appliance repair business.
2... Hired an employee to be paid $400 per week, starting tomorrow.
3... Paid two years’ rent in advance, $7,440.
4... Paid the worker’s weekly wage.
5... Recorded revenue earned and received for the week, $1,900.
In: Accounting
Consider a firm with total costs represented by TC=16+Q^2 and a corresponding marginal cost of 2Q (MC=2Q)
1. Graph the ATC and MC, be certain to label the lowest point of the ATC.
Consider that the firm faces a price of $12.
2. Find the optimal quantity
3. Graph and find the total cost, total revenue and any profit or loss at the optimal quantity
In: Economics
A company is considering an investment of $600,000 in a new product line. The investment will be made only if it will result in a rate of return of 20% per year or higher. If the net cash flow is expected to be between $150,000 and $250,000 per year for 6 years. Use present worth analysis to determine if the decision to invest is sensitive to the projected range of revenue. Show how you arrived at your decision
In: Economics