Q1.Explain economic profit vs. accounting profit with the help of suitable examples. Q2. Explain explicit and implicit cost with the help of an example.

Q3. Calculate cost and fill in the blank spaces of the following table. (in the picture) Q1. 2.Find Total Cost, Profit, Marginal Revenues, Marginal Cost, and change in profit and explain how did you get the values? (in the picture) Q2. Explain the firm Marginal cost and the firms Supply decision with the help of a graph.

QI. Explain economic profit vs. accounting profit with the help of suitable examples.(2Marks) Q2. Q3. Explain explicit and implicit cost with the help of an example. (2 Marks) Calculate cost and fill in the blank spaces of the following table. (3 Marks) VC T C AFC AVC ATC MC 50 10 $10 $ 60.00 10 30 80 20 30 16.50 12.50 36.67 37.50 150 30 35 210 260 8.33 43.33 60 SECTION B (8 Marks) [CLO 5] Q1. Find Total Cost, Profit, Marginal Revenues, Marginal Cost, and change in profit and explain how did you get the values? (4 Marks) TC PROFIT MR MC CHANGE IN PROFIT = MR-MC $10 10 10 10 Q2. Explain the firm Marginal cost and the firm's Supply decision with the help of a graph. (4 Marks)