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You are given the following cost and revenue information for Cindy's Candles,a perfectly competitive firm at its current level of output.
AFC = 4
ATC = 10
TVC = 600
MC = 10
TR = 1,200
a)What is the amount of profit or loss?
b)Is the firm producing at its optimal level? If not,should it increase or decrease output?
a)Economic profit = $200
Present Value
The current worth of a future sum of money or stream of cash flows given a specified rate of return.
Trust Fund
A fund comprised of a variety of assets intended to provide benefits to an individual or organization.
Effective Rate
is the interest rate on a loan or financial product, restated from the nominal rate as an annual rate that may incorporate compounding.
Endowment Fund
A financial endowment given to institutions like universities, museums, and non-profits to invest and use the annual income from investments for operations or programs.
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