Calculate firms revenue accounting cost and implicit cost

Assignment Help Microeconomics

Reference no: EM133494779

Problem

Assume you start a business in Pakistan after graduating from Holmes Institute. At the end of your first business year you receive your business summary as below from your economic advisor. Assume you convert the Pakistani Rupees into Australian dollars. Answer the questions that follow. Item Fixed cost Variable cost Economic cost Accounting profit/ (loss) Economic profit (loss) Cost (AUD) 80,000 10,000 91,000 (5000) (6000).

Question 1. Calculate your firm's revenue, accounting cost and implicit cost.

Question 2. Explain what you understand by the term shutdown.

Question 3. Would you shut down your business. Explain you answer.

Question 4. Examine the market entry barriers that deter other firms from entering the market structure for distribution of consumer goods and services in Pakistan.

Reference no: EM133494779

Questions Cloud

Determine whether your marketing campaign succeeded : As a healthcare manager, how will you determine whether your marketing campaign succeeded? Provide details

Describe the experiences of women coming to united states : Describe the experiences of women coming to the United States? What can you learn from her family's journey?

How to create create user account in sql server : Review this source for how to create Create User Account in SQL Server - Create Login, User, assign Permissions for at least 5 users

Discuss if and how information about dementia : Discuss if and how information about dementia varies between different websites (specifically Alzheimer's Society, Wikipedia, and Centers for Disease Control

Calculate firms revenue accounting cost and implicit cost : Calculate your firm's revenue, accounting cost and implicit cost. Explain what you understand by the term shutdown. Would you shut down your business.

Who is to blame for the incident : What is the attitude that some whites have toward the Mexican American community? Who is to blame for the incident?

Describe the contrasting visions and social policies pursued : Describe the contrasting visions and social policies pursued under the federal leadership of Stephen Harper and Justin Trudeau

What was the purpose of the chicano moratorium : What was the excuse used by the L.A.P.D. to justify their actions in breaking up a peaceful assembly of Chicanos?

What advice would you give to ceo larry culp : Why, during the 20th century, was GE such a successful company? What are the reasons for the collapse in GE's financial performance during 2016-20?

User Account

All Pages