Emily runs a small one-woman cake bakery out of her apartment when not working at her...

 

Transcribed Image Text:

Emily runs a small one-woman cake bakery out of her apartment when not working at her primary job. Fill in the table below by describing whether each input represents a fixed or variable cost in the short run, a fixed or variable cost in the long run, an explicit or implicit cost, and whether that cost is included in accounting profit, economic profit, or both. Input Hours spent baking Ingredients (e.g. flour, eggs) Ovens A car for delivery Hours spent promoting cakes on Instagram Fixed or Variable Fixed or Variable Short Run Long Run Implicit or Explicit Economic or Accounting or Both Emily runs a small one-woman cake bakery out of her apartment when not working at her primary job. Fill in the table below by describing whether each input represents a fixed or variable cost in the short run, a fixed or variable cost in the long run, an explicit or implicit cost, and whether that cost is included in accounting profit, economic profit, or both. Input Hours spent baking Ingredients (e.g. flour, eggs) Ovens A car for delivery Hours spent promoting cakes on Instagram Fixed or Variable Fixed or Variable Short Run Long Run Implicit or Explicit Economic or Accounting or Both

Answer rating: 100% (QA)

Input Fixed or Variable Short Run Fixed or Variable Long Run Implicit or Explicit Economic or Accounting or Both Hours spent baking Variable Variable ... View the full answer