(Answered) 1 why can the distinction between fixed costs and variable

Economics

1. Why can the distinction between fixed costs and variable costs be made in the short run? Classify the following as fixed or variable costs: advertising expenditures, fuel, interest on company-issued bonds, shipping charges, payments for raw materials, real estate taxes, executive salaries, insurance premiums, wage payments, depreciation and obsolescence charges, sales taxes, and rental payments on leased office machinery. "There are no fixed costs in the long run; all costs are variable." Explain.

2. Distinguish between accounting profit, economic profit, and normal profit. Does accounting profit or economic profit determine how entrepreneurs allocate resources between different business ventures?

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M92210477
Price:- $20

Verified Expert

Priced at $40 Now at $20, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Business Economics

For each customer that calls into abc credit card billing

For each customer that calls into ABC credit card billing service call center, at the end of the phone conversation, the call center representative will offer each customer ONE of the following two products, a personal l ...

Describe the difference between discrete and continuous

Describe the difference between discrete and continuous variables. Why do we need two different statistical tests to determine if differences in proportions are statistically significant verses differences in proportions ...

1 lisa and david have been married for two years they have

1. Lisa and David have been married for two years. They have just decided that summer of 2020 should be spent in Switzerland. They figured out that in order to meet the cost of the entire vacation they would only have to ...

1 a country and an import of that country whats the reason

1. A country and an import of that country. What's the reason for that import and who are the winners? Are there any losers? 2. A country and an export of that country. b) What's the reason for that export and who are th ...

What in your view are some of the key problems in the

What, in your view, are some of the key problems in the Chinese economy? How would you address these problems if you were asked to provide policy advice to the Chinese government?

A firm has hired you as a consultantnbspthis firm is not

A firm has hired you as a consultant. This firm is not perfectly competitive--it has some control over prices. This firm is currently selling 1000 units, generating $10,000 in revenues and $12000 in total costs. The mar ...

Let x denote the number of spots on a single throw of a

Let X denote the number of spots on a single throw of a fair 6-sided die. Find the mean, variance, and standard deviation of X. If you can, relate the mean and variance to the mean and variance. the possible values on th ...

Consider the following production function that is already

Consider the following production function that is already written in per worker terms: y = Akαh 1-α where h represents human capital per worker. Suppose we are given the following information: capital per worker in an e ...

A jewerly store paid a unit price of 250 less 40 16 8 for

A jewerly store paid a unit price of $250 less 40%, 16% , 8% for a shipment of designer watches. the store's overhead expenses are 65% of cost and the required profit is 55% of coat. a. What is the regular selling price ...

What is equi-marginal principle why does it have to be true

What is Equi-marginal principle? Why does it have to be true at interior optimum?

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Economics Expert