Question: Please, could you help me with the questions in both the first and second picture? Thank you very much. (just as a side note, the


Please, could you help me with the questions in both the first and second picture?
Thank you very much.
(just as a side note, the economic profit is also needed in the first picture)
Thank you!


learning.edx.org/course/course-v Submit You have used 2 of 2 attempts Show answer Problem PS5.1.4 1 point possible (graded) Shelly owns a bookstore, where she earns all of its accounting profits in addition to a $30,000 a year salary she pays herself. Last year, her bookstore's accounting profit was $50,000. Shelly has a standing offer of $35,000 a year to write for Penguin Publishing, and if she had invested her capital outside her company, she would have earned $22,000 that year. What was Shelly's economic profit? Submit You have used 0 of 2 attempts Problem PS5.1.5 3 points possible (graded)Your firm specializes in recycling used plastics into consumer goods. You have three production opportunities: 1. You can produce plastic utensils for a revenue of $30,000 while production will cost $15,000. 2. Alternatively, you can produce lampshades: you calculate that at the optimal production, you expect to sell 2,000 lampshades every year at $10 each, and your average total cost per lampshade will be $2. 3. You also have the option to shut down your factory and produce nothing at a cost of $1,000 a year. Which opportunity do you choose? You produce plastic utensils You produce lampshades You shut down What is your accounting profit? What is your economic profit
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