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2 points Save Answer James is currently working as a lab technician and earning $72,500 per year. He owns an apartment in Burnaby that is worth $589,000. He does not have any savings or debt. James is considering selling his apartment and moving to a more remote part of British Columbia where he would start his own canoe rental business. He would purchase a small house there for $315,000. The canoes would cost $43,000 to purchase. He could invest the rest of the equity from his Burnaby apartment and the current interest rate is 49. The following are his estimated annual values for the canoe rental business: Revenue $114,000 Explicit costs (rent, insurance) $21,400 Depreciation of canoes 6% Calculate James' economic profit if he moves and opens the canoe rental business. 1 points Save Answer The table below shows the cost and revenue information for a firm What is the optimal quantity for the firm? o TC TR 1 2 3 Marginal Revenue 30 30 30 30 5 6 7 8 9 10 11 12 Marginal Cost 12 14 16 18 20 22 24 26 28 30 32 34 12 26 42 60 80 102 126 152 180 210 242 276 30 30 30 30 30 30 30 30 30 60 90 120 150 180 210 240 270 300 330 360 Question 2 of 9 Moving to another question will save this response If the producer produces 8 units, what will be the total cost? Q Marginal Cost 2 3 4 5 6 7 8 9 12 14 16 18 20 22 24 26 28 30 32 34 10 11 12