Use the table below to calculate the accounting and economic profit for Abner's Apple Art. Item Amount Macmillan Learning Total revenue $400 Costs Apples $30 Utilities $20 Lease $23 Abner's normal profit $86 Abner's forgone wages $150 Numbers in the table are in thousands What is Abner's Apple Art's accounting profit? Accounting profit - $ thousandon 4 of 25 Lease $23 Abner's normal profit $86 Abner's forgone wages $150 Numbers in the table are in thousands What is Abner's Apple Art's accounting profit? Accounting profit = $ thousand What is Abner Apple Art's economic profit? Economic profit = $ thousand Enter numeric value 3 Mar 19 9:41 9 8signment Score: 71.9% Resources 9 Hint uestion 6 of 25 Complete the sentences to illustrate how economists and accountants view profit differently. Which statement is true? Macmillan Learning Economic costs and accounting costs differ because Economic costs and accounting costs differ because 0 3 Mar 19 C AD # $ & 4 5 6 7 8 9 O e t y u O p d g h Kv profit differently. Which statement is true? Economic profit is typically lower than accounting profit. Economic profit is typically higher than accounting profit. Economic profit is always zero. Economic costs and accounting costs differ becauseEconomic costs and accounting costs differ because accountants include only explicit costs. accountants include neither explicit nor implicit costs accountants include both explicit and implicit costs. accountants include only implicit costs,mmment Score: * 71.92% Resources Hint Check A stion 6 of 25 Economic costs and accounting costs differ because Economic costs and accounting costs differ because economists include neither explicit nor implicit costs. economists include only implicit costs. economists include only explicit costs. economists include both explicit and implicit costs Mar 19 9:42Question 7 of 25 Total cost In the graph, the slope of the total cost (TC) curve is $10 calculated as This value is also referred 9 @ Macmillan Learning to as 8 Total cost 6 Variable cost Fixed cost 0 2 3 4 5 6 7 8 9 10 Output (Q)Attempt 1 Use the table showing output and costs for Betty Lou's Burritos to answer the questions. Round your answers to two decimal places. Macmillan Learning Labor Output Total fixed Total variable Total cost (workers per day) (units per day) cost cost ($ per day) ($ per day) ($ per day) 50 0 50 8 50 25 75 12 50 50 100 W N 20 50 75 125 A 25 50 100 150 29 50 125 175 What is the marginal cost of going from 2 workers per day to 3 workers per day? V marginal cost of the third worker: $ 3.13 31 Mar 19 943 9Resources Feedback Resume on 8 of 25 . Attempt 1 5 29 50 125 175 What is the marginal coat of going from 2 workers per day to 3 workers per day? marginal cost of the third worker: $ 3.13 What is the marginal cost of going from 4 workers per day to 5 workers per day? marginal cost of the fifth worker: S 3.57 Enter numeric value Incorrectn 9 of 25 > Attempt 1 Which of the descriptions are examples of sunk costs? All examples should be placed. Is a sunk cost Is not a sunk cost The income you will earn after college graduation (assuming you have not graduated yet) The cash you paid for the delicious burrito you ate yesterday The money you will pay two months from now for next month's power bill The cash your friend paid for her last haircut that she absolutely adores The amount of money you will pay for the books you need for next semester (assuming you will take courses next semester) The income you earned last week at your job The income you earned today Answer Bankestion 14 of 25 Attempt 1 The graph shows how Daisy's utility changes as she Utility Learning consumes candy. Based on the preferences shown in the graph, arrange the pieces of candy from highest marginal utility to lowest marginal utility. Macmil Torallutility Highest marginal utility let pisde 2nd piece 4th piece 2 3rd piece Pieces of candy 5th piece 6th piece O O