MICROECONOMCSORE3 FALL 201T NAME YOU MUST SHOW ALL YOUR CALGULATIONS TO EARN FOI
ID: 1123761 • Letter: M
Question
MICROECONOMCSORE3 FALL 201T NAME YOU MUST SHOW ALL YOUR CALGULATIONS TO EARN FOINT 282317 otaled 548,000 Herl Laurens accountant Lauaren Aj incurred a loss of $1,000 B) earmed a proft of $1,000 C)incarsed sies o. S111000 DI eamed a profit of $111,000 E) had total oasteas. to $91.000 was 548.000, her laber costs wone $42,000, and her maera, food and oher variable sts wne 90 rse worked 85 bioort and earred S60 000 per year Ar, ecoronst talcadates he' mplot cocesas A) 5150 000 $63,000. C) $50.000 DISI 10,000 orgone wages by the owner, $10,000 of forgone inbeest by the owner, $3,000 worth of economic deecn and $20,000 worth of nomal prost Wha is the fee's econosie prot? A) 5250,000 B) $200,000 C) $190.000 D) $167,000 E) $180 000 4) Bil is an economics protessor who eams $40,000 leaching tut decides to leave an futill his dresm of ca barbecues During his Srst year of bartecuing he eamed total revenue of $60,000 He spent 530.000 on fsc ard supples Ha also paid his wele $10.000 to help serve foos The normal proft for an entreprenesr numning a bahec business is $3.000 He also rented an industrial grilty truck for $12,000 An acountant would conciude thats A) $30,000 B) $20,000 C) S8.000 Dj-$2,000 E) $40,000 Quantity of labor Total produ workers) dawns mow ed per weel) 30 75 80 5) Kenya owns a lawn mowingcompany Hs ttalproduct schedule isntte vetable the marginal produ telte leith worker is A) 80 8j 25 0) 20 D) 5 , lawns mowed per weekExplanation / Answer
1) THe answer is E -) Total cost equal to $91000.
because - his labor cost is equal to = $43000
and his rent = $48000
so, so cost = Total fixed cost + total variable cost
so, TC= 48000+43000 = $91000
5) THe answer is D-) 5
marginal product = 80-75 = 5
2) and all. ) PLease upload again it against chegg policy
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