Question: Need some help with some problems any is appreciated :) Answer questions 1-8, using the following information: Ted Bizarre receives his degree in CIS from
Need some help with some problems any is appreciated :)





Answer questions 1-8, using the following information: Ted Bizarre receives his degree in CIS from Cal Poly-Pomona. Ted receives a job offer from Micro Hard, paying him $80.000 a year. Being Bizarre. Ted uses his life saving of $20000 that he had deposited at the B of A at an annual rate of 6% to open his own software company. Ted's first year revenue and expenses are as follow, Rent $30,000 Salary 65,000 Utility 25,000 Others 10,000 Total 130,000 Revenue for the year $200,000 1- Ted's explicit costs for the year is a- $130,000 b- $210,000 c- $211,200 1- $81.200 e- $100,000 2- Ted's implicit costs for the year is a- $130,000 b- $210,000 c- $211,200 d- $81,200 e- $100,000 3- Ted's economic costs for the year is a- $330,000 b- $210,000 c- $211,200 d- $81,200 e- $100,000 4- Ted's accounting costs for the year is a- $130,000 b- $210,000 c- $211,200 d- $70,000 e- $100,0005- Ted's accounting prot for the year is a $130,000 13 $210,000 c $21 1,200 {1- $710,000 e $100,000 6- Ted's xed cost is a $11,200 13- $30,000 c- $310,000 {1- $118,800 e $100,000 ? Ted's economic prot is a $1 1,200 b- $11,200 c- $510,000 {1- $1 18,800 e- $100,000 8 By operating his own business, Ted is a earning more than what he could earn in More Hard b earning less than what he could earn in Mcro Hard c earning the same as he could earn in Mac Hard [1 having more fun than if he worked for Micro Hard 9- Normal prot is a zero economic prot 13- $11,200 earned over cost c- prot le aer covering normal losses {1 zero accounting prot e the prot normally earned in the business Answer questions 10-15 based on the following information The following data shows the quantity and total cost of producing lolly pops. Quantity Total Cost QUAWNA 20 30 38 44 48 75 110 10- fixed cost of business is a- $6 b- $70 c- $20 d- $28 11- marginal cost of third unit of output is a- $6 b- $70 c- $20 d- $2812- variable cost of four units of output is 13 Average variable cost of four units of output is a $5 13- $7" e 3520 (1- $28 14 diminishing return part of cost function starts from a 3rd unit of output b-4th unit of output e 5th unit of output (1 6* unit of output e none of the above 15 average total cost of 5 units of output is 16- as output increases, average xed cost a increases 13- decreases e stays the same (1 is minimized e none of the above l? as output increases, xed cost a increases b decreases c stays the same d is minimized e none of the above 13 as output increases, total cost a increases b decreases c stays the same [1 is minimized e none of the above 19 as output increases, variable cost a increases b decreases c stays the same [1- is minimized e none of the above 20 as output increases, average variable cost a increases then decreases with a \""11 shape b decreases then increases with a \""U shape c stays the sane d is minimized e none of the above
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