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- Which agricultural enterprise is relatively more efficient? Interpret all three derived economic parameters (breakeven yield, cost to produce a kilogram, and net profit) and discuss.
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- To compute economic profits, which costs are used?Marty used to be a bartender making $5,000 a year but he quit in order to become a clown that does shows at birthday parties. His clown car and costumes cost $7,000 and he did a lot of shows in the past year, making $13,000 in revenue but paying $2,000 in variable costs for balloons, gas, etc. Marty asked an accountant and an economist to calculate his profit. What did they report?What are the Five levels of a Product? Explain each level with an example from any Educational Service in Pakistan
- 3.1 Every weekend more than 500 different vendors set up at the local farmers' market, selling a variety of items from homemade prepared foods to fresh produce. Yolanda rents a booth each weekend at the farmers' market to sell homemade tamales for $10 a dozen. Yolanda pays each of her four cousins $20 per hour to make the tamales on Friday evenings in the food truck she operates for week- day lunch service. Yolanda sells 60 dozen tamales each weekend at the farmers' market, which takes her cousins four hours to make each Friday. The cost of ingredients for all the tamales totals $240 and the booth at the farmers' market rents for $150 per weekend. a. What market structure does this business most resemble? What characteristics lead you to this conclusion?True/False Marginal cost is the addition to the total cost when more unit of output is being produced.Q9 ABC is a small business producing instructional modules for disabled children in public schools. The modules produced by ABC are not differentiated and the market price is $1,300 per module. ABC operates in a small office that rents for $600 a month and leases computer equipment that costs $480 per month. The chart lists other cost of production. Output (Q) Fixed (Instructional Cost Modules Per month) 0 1 2 3 4 5 6 7 8 9 10 Variable Total Average Average Cost Cost Fixed Variable (TC) Cost (AFC) (FC) (VC) 1,080 400 1,350 1,900 2,500 4,100 5,400 7,300 1,480 2,430 4,280 10,880 216 135 Cost (AVC) 475 Average Total Cost (ATC) 965 Marginal Cost (MC) 400 450 700 1) Complete the chart and plot the following graphs: AFC, AVC, ATV, MC. Be sure to label axis and graphs. 2) How many instructional modules ABC will produce, assuming it is profit- maximizer? Explain your answer and show that on the graph. 3) Determine ABC's profit and shade the profit on the graph. 4) Given the level of ABC's…
