Revenues Total variable costs Fixed costs Total Costs Profit a. $2,000 $1,400 ?
ID: 2637371 • Letter: R
Question
Revenues
Total variable costs
Fixed costs
Total
Costs
Profit
a.
$2,000
$1,400
?
$2,000
?
b.
?
$1,000
?
$1,600
$2,400
c.
$4,000
?
$600
?
$400
Revenues
Total variable costs
Fixed costs
Total
Costs
Profit
a.
$2,000
$1,400
?
$2,000
?
b.
?
$1,000
?
$1,600
$2,400
c.
$4,000
?
$600
?
$400
Explanation / Answer
a. Total fixed cost = Total cost - Total variable cost = 2000 -1400 =600
Profit = revenue - cost = 2000 - 2000 = 0
b. Revenue = profit + total cost = 2400 + 1600 = 4000
Total fixed cost = Total cost - Total variable cost = 1600-1000 =600
c. total cost = Revenue - profit = 4000 - 400 = 3600
Variable cost = total cost - total fixed cpst = 3600 - 600 = 3000
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