The document outlines the opportunity costs of production for a firm including costs of resources bought in the market totaling $5,450, costs of resources owned by the firm totaling $5,500, and costs of resources supplied by the owner totaling $75,000, for a total opportunity cost of $86,950. It then calculates that with total revenue of $45,000, the economic profit for 2012 was a loss of $40,950, and comments that the total revenue was very small for such high opportunity costs.
The document outlines the opportunity costs of production for a firm including costs of resources bought in the market totaling $5,450, costs of resources owned by the firm totaling $5,500, and costs of resources supplied by the owner totaling $75,000, for a total opportunity cost of $86,950. It then calculates that with total revenue of $45,000, the economic profit for 2012 was a loss of $40,950, and comments that the total revenue was very small for such high opportunity costs.
The document outlines the opportunity costs of production for a firm including costs of resources bought in the market totaling $5,450, costs of resources owned by the firm totaling $5,500, and costs of resources supplied by the owner totaling $75,000, for a total opportunity cost of $86,950. It then calculates that with total revenue of $45,000, the economic profit for 2012 was a loss of $40,950, and comments that the total revenue was very small for such high opportunity costs.
Cost of resource bought in the market Computer 2000 Web server lease 1500 High speed Internet service 1750 5450 Cost of resource owned by the firm Economic Depreciation 1500 Forgone interest 4000 5500 Cost of resource supplied by the firms owner Tonis normal profit 55000 Tonis forgone wages 20000 75000 Opportunity cost of production 85950
Economic profit 2012 Total revenue Opp. Cost of production= 45000-85950= -40950 (economic loss) BISA GA SI KAYAK GINIIIII -.- LAGIAN TOTAL REVENUENYA DIKIT BANGET