What is the firm total revenue

Reference no: EM132133738

Question: With current technology, suppose a firm is producing 400 loaves of banana bread daily. Also assume that the least-cost combination of resources in producing those loaves is 6 units of labor, 7 units of land, 2 units of capital, and 1 unit of entrepreneurial ability, selling at prices of $40, $60, $60, and $20, respectively. Assume the firm can sell these 400 loaves at $2 per unit. Enter your answers as whole numbers. If you are entering any negative numbers be sure to include a negative sign in front of those numbers.

What is the firm's total revenue?

What is its total cost?

Calculate the amount of economic profit or loss. $C

Will it continue to produce banana bread?

If this firm's situation is typical for the other makers of banana bread, will resources flow toward or away from this bakery good?

Reference no: EM132133738

Questions Cloud

How do you measure poverty and income inequality : In defining development to include more than just the growth of per capita income, there is an implicit assumption that the growth of per capita income alone.

Enhancing business intelligence using information systems : Enhancing Business Intelligence Using Information Systems. Enhancing Business Processes Using Enterprise Information Systems

Result from the development of conceptual frameworks : Outline the advantages for accounting that could result from the development of conceptual frameworks.

How do fiscal policy decisions made by the government : What is the current state of the U.S. government budget? How do fiscal policy decisions made by the government impact the budget balance?

What is the firm total revenue : With current technology, suppose a firm is producing 400 loaves of banana bread daily. Also assume that the least-cost combination of resources in producing.

Payments from various users near-simultaneously : A Bitcoin payment service might receive thousands of payments from various users near-simultaneously

Contract to build small group of outbuildings : Anne is employed by Cory Contracting Company. Cory has a $1.3 million contract to build a small group of outbuildings in a national park.

What is the elasticity of demand : Danny "Dimes" Donahue is a neighborhood's 9-year-old entrepreneur. His most recent venture is selling homemade brownies that he bakes himself.

What advice do you give to your executive leadership team : What advice do you give to your executive leadership team. Whose interests would be most important in your policy decision?

User Account

All Pages