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2 years ago

What is the the total fixed cost (tfc) of the firm when it produces 1 (one) unit of ouput?

Business

1 answer:

hoa [83]2 years ago

5 0

The the total fixed cost (tfc) of the firm when it produces 1 (one) unit of output will be $15

When Q = 1, TFC = $ 15

Note: TC = FC +VC At Q =3, FC = $ 15. The FC remains constant

Total fixed cost (TFC) is the cost that is constant regardless of the output level. For instance, depreciation, rent, wages, insurance, etc.

Both total fixed costs and total variable costs are included in total costs. The total of a company's fixed costs is the sum of all recurring, non-variable costs. Consider a business that pays $10,000 a month to lease office space, $5,000 a month to rent equipment, and $1,000 a month for utilities. The total fixed costs for the business in this scenario would be $16,000.

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Explanation:

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3 years ago

Suppose Ernie gives up his job as financial advisor for P.E.T.S., at which he earned $30,000 per year, to open up a store sellin

8_murik_8 [283]

a) Ernie's accounting profit is <u>$40,500</u>.

b) Ernies economic profit is <u>$10,500</u>, excluding the salary forgone (opportunity cost) from the accounting profit.

<h3>What is the difference between accounting profit and economic profit?</h3>

The difference between accounting profit and economic profit is that accounting profit does not consider the opportunity costs, which economic profit factors in.

Accounting profit is narrower in concept than economic profit. It is simply revenue minus total costs without opportunity cost.

Economic profit, on the other hand, includes the opportunity costs in the total costs.

<h3>Data and Calculations:</h3>

Salary per year at P.E.T.S = $30,000

Annual interest from savings = $500 ($10,000 x 5%)

Revenue in the new business = $50,000

Explicit costs = $10,000

Accounting profit = $40,500 ($50,500 - $10,000)

Economic profit = $10,500 ($50,500 - $10,000 - $30,000)

Thus, Ernie's accounting profit is <u>$40,500</u> and the economic profit is <u>$10,500</u>.

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1 year ago

The Executive Director of Operations has assigned Joe Tanney the role of Team Leader for a high priority project. The task is to

svetlana [45]

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This is a team conflicts that have negative consequences on the firm.

The conflict is not multicultural because their cultures doe have an impact on the conflict results, it's equally not functional because it's not bringing in a positive results, Both gender and intergroup do not also have an effect on the conflict.

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3 years ago

If a local diner can sell 50 burgers per day at a price of $5 each, but must reduce the menu price to $4.95 to sell one more bur

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Answer:

$2.45

Explanation:

The formula to compute the marginal revenue is shown below:

Marginal revenue = Change in total revenue ÷ Change in number of quantity sold

where,

Change in total revenue would be

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So, the change in total revenue is

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And, the change in number of quantity sold is

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So, the marginal revenue is

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= $2.45

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3 years ago

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Kamila [148]

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2 years ago