Answer:
$6000
Explanation:
Economic profit = accounting profit - implicit cost
Implicit cost is the cost of the next best option forgone when one alternative is chosen over other alternatives
accounting profit = 15,000
Implicit cost = 9000
15,000 - 9000 = $6000
Answer:
the high-low method
Explanation:
The high-low method -
It is the method used by comparing the total cost of the highest level of activity with the lowest level of activity , is referred to as the high - low method.
This method is used in order to separate the fixed and variable costs for a limited amount of data .
Hence , this method compare the data of two points .
Therefore , the correct option from the given options is the high - low method.
Answer:
Answer for the question:
g (Asymmetric Cournot Duopoly) Consider a Cournot duopoly model with price function 푝푝(푄푄)= 100−푄푄, where 푄푄=푞푞1+푞푞2 is the total production quantity. Two firms have different unit product costs: 푐푐1= 20 ,푐푐2= 30. a.Write down this game in normal-form representation.b.What is Firm 1’s best response if Firm 2’s quantity is 푞푞2? What is Firm 2’s best response if Firm 1’s quantity is 푞푞1? c.Find the Nash equilibrium.
is given in the attachment.
Explanation:
Answer:
Purchases
Date Qty Unit Cost Total Cost
11 12 $18 $216
21 9 $15 $135
Cost of Sales
Date Qty Unit Cost Total Cost
14
21 $16 $336
5 $18 $90
25
7 $18 $126
4 $15 $60
Total $612
Inventory
Qty Unit Cost Total Cost
5 $15 $75
Total $75
Explanation:
FIFO method assumes that the units to arrive first, will be sold first. Also note that the perpetual Inventory method is used. This means the cost of sales and inventory value is calculated after every transaction.
So with FIFO , Cost of Sales will be calculated on <em>earlier</em> prices (old prices) whilst Inventory will be valued at <em>recent</em> (later prices) prices.
Exchanging things of value is what consideration is in a contract.
