Revenue, Cost, Profit

This is the production possibilities curve for a company producing electronic devices. If the company is currently producing Tablet Computers and Smartphones, what is the opportunity cost of producing 10 additional smartphones.

(a)  

The graph shows the prices a baker charges for a two-tier cake and the quantities he could sell at each price. What is the total revenue if 4 cakes are baked and sold?

(a)  

The graph shows the prices a baker charges for a two-tier cake and the quantities he could sell at each price. What is the average revenue if all 7 cakes are baked and sold?

(a)  

The graph shows the prices a baker charges for a two-tier cake and the quantities he could sell at each price. What would his marginal revenue be for thr 5th cake he produces?

(a)  

Jakob quits his job as a bar tender where he'd earn $100 per day. He starts his own business selling T-shirts at concerts. Every day he sells (on average) 30 T-shirts for $10 each. The shirts cost him $3 each and the silk screening costs him $2 per shirt, and renting the kiosk where he sells the shirts costs $50 per day. What is Jacob's Total Revenue?

(a)  

Jakob quits his job as a bar tender where he'd earn $100 per day. He starts his own business selling T-shirts at concerts. Every day he sells (on average) 30 T-shirts for $10 each. The shirts cost him $3 each and the silk screening costs him $2 per shirt, and renting the kiosk where he sells the shirts costs $50 per day. What is Jacob's Economic Profit?

(a)  

Jakob quits his job as a bar tender where he'd earn $100 per day. He starts his own business selling T-shirts at concerts. Every day he sells (on average) 30 T-shirts for $10 each. The shirts cost him $3 each and the silk screening costs him $2 per shirt, and renting the kiosk where he sells the shirts costs $50 per day. What is Jacob's Average Total Cost?

(a)  

Jenny quits his job as a mechanic where she'd earn $100 per day (on average). She starts her own business doing oil changes in a warehouse she owns. She could rent out the warehouse for $100 per day. She takes a loan to buy equipment and pays $50 per day for this loan. Oil costs $10 per oil change and oil filters cost $5 per oil change. If she sells 10 oil changes (on average) per day at $50 each, what is Jenny's Average Variable Cost?

(a)  

Jenny quits his job as a mechanic where she'd earn $100 per day (on average). She starts her own business doing oil changes in a warehouse she owns. She could rent out the warehouse for $100 per day. She takes a loan to buy equipment and pays $50 per day for this loan. Oil costs $10 per oil change and oil filters cost $5 per oil change. If she sells 10 oil changes (on average) per day at $50 each, what is Jenny's Economic Profit?

(a)  

Jenny quits his job as a mechanic where she'd earn $100 per day (on average). She starts her own business doing oil changes in a warehouse she owns. She could rent out the warehouse for $100 per day. She takes a loan to buy equipment and pays $50 per day for this loan. Oil costs $10 per oil change and oil filters cost $5 per oil change. If she sells 10 oil changes (on average) per day at $50 each, what is Jenny's Economic Profit?

(a)