FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

PQ 14.08B Charlie owns a food truck which is being operated in a perfectly competitive market and is earning positive economic profits. If the price

PQ 14.08B

Charlie owns a food truck which is being operated in a perfectly competitive market and is earning positive economic profits. If the price of a burger is $6, Charlie makes 400 burgers a month, and their monthly average total cost is $4.50. What are Charlie's profits each month?

Type your numeric answer and submit

Numeric Answer - Type your numeric answer and submit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Macroeconomics

Macroeconomics

Authors: Robert J Gordon

12th edition

138014914, 978-0138014919

More Books

Students also viewed these Economics questions

Question

★★★★★
For the circuit of Fig.4.141 (a) Does VC increase or decrease if RB is increased? (b) Does IC increase or decrease if β is reduced? (c) What happens to the saturation current if...

Answered: 1 week ago

Question

★★★★★
10. In the Oettingen and colleagues (2001) study described earlier (in the Prediction in Research Articles section), in addition to studying anticipated disappointment, the researchers conducted an...

Answered: 1 week ago

Question

★★★★★
e. What are the requirements for the position (e.g., doctorate, research experience, licensure)?

Answered: 1 week ago

Question

★★★★★
Assume that Santana Rey expands Business Solutions accounting system to include special journals. Required 1. Locate the transactions related to January through March 2012 for Business Solutions in...

Answered: 1 week ago

Question

★★★★★
Question 1 Retaken 0/7 points Samuel just moved to Radford and plans to live here for 5 years. He just found a "perfect" house to live in with his family. The current owner is willing to sell or rent...

Answered: 1 week ago

Question

★★★★★
b would Pelt A 5. (5 points) An ecological engineer wants to model the population change of an invasive species of fish in a certain lake using the Method of Selected Points. She has a set of data...

Answered: 1 week ago

Question

★★★★★
Consider a firm with an EBITDA of $1,100,000 and an EBIT of $1,000,000. The firm finances its assets with $4,550,000 debt (costing 8.3 percent, all of which is tax deductible) and 203,000 shares of...

Answered: 1 week ago

Question

★★★★★
Control: On a monthly basis, the financial analyst performs the reconciliation of the AR subledger system to the general ledger. All reconciling items in excess of US$15,000 are investigated and...

Answered: 1 week ago

Question

★★★★★
TB Problem Qu. 9-402 (Static) Hislop Tech is a for-profit vocational... Hislop Tech is a for-profit vocational school. The school bases its budgets on two measures of activity (i.e., cost drivers),...

Answered: 1 week ago

Question

★★★★★
An analysis of the transactions made by Blossom & Co., a certified public accounting firm, for the month of August is shown below. The expenses were $550 for rent, $3,800 for salaries and wages, and...

Answered: 1 week ago

Question

★★★★★
A company plans to configure a vessel's journey in Dynamics 365 Supply Chain Management by using the landed cost functionality. The company needs to track the details of each step of the journey...

Answered: 1 week ago

Question

★★★★★
week 4 apply quiz The table shows the marginal utility schedules for goods A and B for a hypothetical consumer. The price of good A is $2, and the price of good B is $4. The income of the consumer is...

Answered: 1 week ago

Question

★★★★★
1. Discuss the following statements: a) The smaller the unit of measurement used to measure a coastline, the longer the coastline becomes. b) The interpretation is different from what is interpreted....

Answered: 1 week ago

Question

★★★★★
1. What information of vital importance is not expressed in the message? The answer to the question tells us a little about the code used between the parties.

Answered: 1 week ago

Question

★★★★★
2. Find five metaphors for communication.

Answered: 1 week ago

Previous Question Next Question