marginal costs Archives

What is Jon’s pure economic profit (or loss) in numbers?What are Jon’s total revenues?

Posted on January 20, 2023 by Assessments

Use the concepts of fixed and variable costs to explain why 30% of dry cleaners would close but the other 70%, also operating at a loss are able to remain open.( 10 points ) ⦁ When a firm is “temporarily closed” (the firm shuts down) does the firm eliminate all of its costs of production? […]

Explain, using examples from the bakery, the difference between fixed and variable costs and average and marginal costs.

Posted on January 27, 2021 by Ambrose

Description Task 1 and task 2 (word limit 950) You have recently been appointed to work at your local chamber of commerce as a market analyst, advising small businesses. You have two clients – a restaurant owner and a local bakery – and each one has sent you information and asked for a written report […]

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What is Jon’s pure economic profit (or loss) in numbers?What are Jon’s total revenues?

Explain, using examples from the bakery, the difference between fixed and variable costs and average and marginal costs.