Answer:
total cost = 12,000
Explanation:
From the formula of accounting profit, we can solve for total cost:
Accounting profit = total revenue - totoal cost
Firm X
produce 1,000 units and sell them at $15 each
total revenue: 1,000 units x $15 = 15,000
It has an accounting profit for 3,000
We plug this values into the formula of accounting profit
Accounting profit = total revenue - totoal cost
3,000 = 15,000 - total cost
15,000 - 3,000 = total cost
total cost = 12,000
Answer:
c. $0.70.
Explanation:
The consumer surplus is determined by subtracting Equilibrium price from willing price
Here there are 3 willing prices which are greater than Equilibrium price. The price to buy the forth can is $0.40 which is below the equilibrium price of $0.55, so he will not buy the forth can.
Willing price for first can (W1) = $0.95
Willing price for second can (W2) = $0.80
Willing price for third can (W3) = $0.60
The Equilibrium price (E) is $0.55
Consumer Surplus = (W1 - E) + (W2 - E) + (W3 - E)
Consumer Surplus = ($0.95 - $0.55) + ($0.80 - $0.55) + ($0.60 - $0.55)
Consumer Surplus = $0.40 + $0.25 + $0.05
Consumer Surplus = $0.70.
Answer
The answer and procedures of the exercise are attached in the following archives.
Step-by-step explanation:
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
Financial accounting is a specific branch of accounting involving a process of recording, summarizing, and reporting the myriad of transactions resulting from business operations over a period of time. ... Work opportunities for a financial accountant can be found in both the public and private sectors.
