What is the difference between explicit and implicit costs? Should both be considered for optimal business decision-making by the firm?

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What is the difference between explicit and implicit costs? Should both be considered for optimal business
decision-making by the firm?

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A firm has analyzed its operating conditions, prices, and cost have developed the following functions: R = 400 – 4q2 (per thousand naira) and Cost = q2 + 10q + 30 (per thousand naira) where q is the number of units produced and sold. If the firm wishes to maximize profit: (a) What quantity should be sold and at what price? (b) What will be the amount of profit? 2. Find the point of maximum value of the revenue function given as P = 400 – 4q. Hence, find the revenue.
THE CAPITAL STRUCTURE OF ABC PVT. LTD IS AS FOLLOWS: EQUITY SHARE CAPITAL (EACHSHAREOFRS.10) = RS.16, 00,000DEBENTURES WITH A COUPON RATE OF 10% = RS. 10, 00,000RESERVES AND SURPLUS = RS.15, 00,000REVENUE FROM THE BUSINESS ACTIVITIES FOR THE COMPANY IS RS. 2.00 CRORES. ITS VARIABLE COST IS 10% OF THE REVENUE, FIXED OPERATING COST IS RS. 60 LAKHS AND THE COMPANY PAYS INCOME TAX AT A RATE OF 25%. (10MARKS)CALCULATE FINANCIAL LEVERAGE, OPERATING LEVERAGE AND COMBINED LEVERAGE FOR THE COMPANY.
the demand function of good1 is estimated as q1=1000-150p+2y+20p2 if current prices good 1 is 5 birr the price of good 2 is 8 birr and par capital of income is 500 birr where q1is quantity of good 1 demand, p1 is prices of good 1, p2 is price of good 2,and y is per capita income of the consumer then calculate 1.prices elasticity of demand and elasticity type 2.cross prices elasticity of demand and the relation between the two products 3.income elasticity of demand and state the type of product
If the movement of the supply curve for the product took place, but the price failed to adjust to the new level of market equilibrium, which one of the following would likely be witnessed in the market for the product? A. The new market price does not need to adjust, as the price can remain constant and the market will still be in equilibrium. B. There will an excess supply in the market. C. The price is not a significant factor in determining the market equilibrium. D. There will be excess demand in the market.
Define externalities and highlight their negative impacts
what is elasticity of supply?
Consumer buys 10 units of Good A when the price of Good B is $5. When the price of Good B rises to $6 (the price of Good A remaining unchanged) the consumer buys 14 units of Good A. Part A Using an appropriate formula, calculate this Consumer’s cross Elasticity of demand for Good A. Show your working.
Illustrate and explain the concepts of Producer Surplus and Consumer Surplus