If a firms total revenue is $20 million, its fixed costs are $12 million, and its variable
Question:
If a firm’s total revenue is $20 million, its fixed costs are $12 million, and its variable costs are $22 million, what does it do (a) in the short run and (b) in the long run?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Analyzing the firms situation Financial Performance Total Revenue TR 20 million Fixed Costs FC 12 million Variable Costs VC 22 million ProfitLoss Calc...View the full answer
Answered By
Joseph Mwaura
I have been teaching college students in various subjects for 9 years now. Besides, I have been tutoring online with several tutoring companies from 2010 to date. The 9 years of experience as a tutor has enabled me to develop multiple tutoring skills and see thousands of students excel in their education and in life after school which gives me much pleasure. I have assisted students in essay writing and in doing academic research and this has helped me be well versed with the various writing styles such as APA, MLA, Chicago/ Turabian, Harvard. I am always ready to handle work at any hour and in any way as students specify. In my tutoring journey, excellence has always been my guiding standard.
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
1. In the classical model, it is thought that the long-run: A. and short-run aggregate supply curves are both upward sloping. B. aggregate supply curve is vertical and the short-run aggregate supply...
-
True or false: One firm conclusion from this course is that wage gaps are entirely driven by differences in preferences across groups, rather than by differences in constraints or by discrimination....
-
Which of the following conditions would definitely cause a perfectly competitive company to shut down in the short run? Select one: a. P < MC b. P = MC < AC c. P < AVC d. P = MR e. None of the above...
-
Guido is calculating his personal income tax. He has the following expenses, and wants to know what he can claim on his tax return. The following expenses are all related to Guido's personal...
-
You have been hired as the new assistant financial controller for Autobody Corp., an auto body repair shop. Prepare journal entries for the following transactions, which occurred during August 2014....
-
A carnival game consists of three dice in a cage. A player can bet a dollar on any of the numbers 1 through 6. The cage is shaken, and the payoff is as follows. If the players number doesnt appear on...
-
Oil at \(150^{\circ} \mathrm{C}\) flows slowly through a long, thin-walled pipe of 35-mm inner diameter. The pipe is suspended in a room for which the air temperature is \(25^{\circ} \mathrm{C}\) and...
-
Purchasing a large oven and related equipment for mixing and baking crazy bread is being considered by Perottis Pizza. The oven and equipment would cost $120,000 delivered and installed. It would be...
-
1) What is JavaScript? 2) Advantages of JavaScript? 3) Disadvantages of JavaScript? 4) Difference between Java and JavaScript? 5) What is JavaScript Engine? 6) Types of JavaScript? 7) Types of...
-
Given: Fixed cost = $500. Fill in Table 2. TABLE 2 Output 123456 Variable Cost $ 400 700 900 1,350 2,000 3,000 Total Cost AVC ATC Marginal Cost
-
If a fi rms total revenue is $5 billion, its fi xed costs are $3 billion, and its variable costs are $1.5 billion, what does it do (a) in the short run and (b) in the long run?
-
Draw the signal flow graph for the transposed direct form II implementation of the LTI system with system function 1-{- + {? H(z) = 1+z-! +-2
-
-27 Use cyclotron equation to find magnetic fiela B so particle of mass m = 6.00 x 10 kg and charge -19 q = 3.20 10C circles in radius R = 0.150m to reach speed v = 2.00 10 8m S
-
4. Show that the vectors: -3-2+, B=-3+52 and = 2* + 42 form a right angled triangle.
-
In corporate finance, the leverage ratio can be calculated by dividing capital by book value of assets. How have regulators altered this ratio to determine the capital adequacy requirements for banks...
-
The Doley Company has planned the following sales for the next three months: Budgeted sales Jan $40,000 Feb $50,000 Mar $70,000 Sales are made 20% for cash and 80% on account. From experience, the...
-
The traditional Banking and Financial Service Industry within the Caribbean should fully integrate with emerging blockchain technologies to improve security and transparency and reduce exposure to...
-
What labor markets should be considered when recruiting to fill an opening for a sales representative for a pharmaceutical manufacturer?
-
Perform the indicated operations. In designing a cam for a fire engine pump, the expression is used. Simplify this expression. (3) (3 4 32
-
1. Arrows up or down: At a natural monopolist s current level of output, marginal cost exceeds marginal revenue. The firm should ______ its output and _______ its price. 2. The entry of a second firm...
-
1. Arrows up or down: At a natural monopolist s current level of output, marginal cost exceeds marginal revenue. The firm should ______ its output and _______ its price. 2. The entry of a second firm...
-
1. Arrows up or down: At a natural monopolist s current level of output, marginal cost exceeds marginal revenue. The firm should ______ its output and _______ its price. 2. The entry of a second firm...
-
Suppose you are a senior portfolio manager of an international investment bank that oversees a US investment portfolio with total assets of 28 billion. For company B&G Ltd., you know the following...
-
What is the legal basis for protecting employees from harassment with supporting laws or regulations explain in detail.
-
Gary was born on January 1st, He celebrated his 65th birthday this year. He was born in Israel, but he immigrated to Canada with his family when he has 12 years old. After ten full years of residency...
Study smarter with the SolutionInn App