Which of the following is an expression of profit for a perfectly competitive firm? profit for a perfectly competitive firm can be expressed as;
(a) profitequals=(upper p times upper q )minus (tc times upper q )(p×q)−(tc×q), where p is price, q is output, and tc is total cost.
(b) profitequals=pminus−atc, where p is price and atc is average total cost.
(c) profitequals=ptimes×q, where p is price and q is output.
(d) profitequals=(upper p minus atc )times upper q(p−atc)×q, where p is price, q is output, and atc is average total cost.
(e) profitequals=pminus−mc, where p is price and mc is marginal cost.

mary's baskets company expects to manufacture and sell 30,000 baskets in 2019 for $5 each. there are 4,000 baskets in beginning finished goods inventory with target ending inventory of 4,000 baskets. the company keeps no work-in-process inventory. what amount of sales revenue will be reported on the 2019 budgeted income statement?

Which of the following is considered part of a country’s infrastructure?

Suppose that a major city’s main thoroughfare, which is also an interstate highway, will be completely closed to traffic for two years, from january 2014 to december 2015, for reconstruction at a cost of $535 million. if the construction company were to keep the highway open for traffic during construction, the highway reconstruction project would take much longer and be more expensive. suppose that construction would take four years if the highway were kept open, at a total cost of $800 million. the state department of transportation had to make its decision in 2014, one year before the start of construction (so that the first payment was one year away). so the department of transportation had the following choices: (i) close the highway during construction, at an annual cost of $267.5 million per year for two years. (ii) keep the highway open during construction, at an annual cost of $200 million per year for four years. now suppose the interest rate is 80%. calculate the present value of the costs incurred under each plan.