Answered step by step
Verified Expert Solution
Question
1 Approved Answer
z5_ .lamal quits a job that was paying him $30,{} per year and decides to start his own business. He runs his business out of
z5_ .lamal quits a job that was paying him $30,{} per year and decides to start his own business. He runs his business out of his house in a room he had been renting to his colleague for $12,133!) a year. Jamal withdraws the $213,130!) in his savings account that had been earning him a ll] percent annual interest to purchase computers and related accessories and equipment for the business. During the rst year of operation. .lamal's business incurred 3533,1301] in explicit costs and generated $501,930 in total sales. Jamal's economic prot is {A} $3,u {a} $17,001:} {{3} $0 {in} sauna {E} $14,ou z_ At the current quantityr that a rm is selling, the rm has marginal revenue of $T5t} and marginal cost of $3013. Which of the following is true? {A} The rm is maximizing prot. {B} The rm's prots would increase if the rm increased the quantityr sold. {C} The rm's prots would increase if the rm decreased the quantity sold. {D} The rm earns negative economic prot. {E} The rm earns zero accounting prot
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started