I completed the graph..Then answer the following questions (based on the chart and your understanding of this material) in 600-800 words: Why, according to an economist, should implicit costs (i.e., lost wages from job given up) be included in the total cost of your product to compute economic profit? Why does price elasticity of demand change as you move up the demand curve (more specifically, as the price of the product increases)? Explain in your own words why MR = MC produces maximum profit for a company.

Hello please write this in your own words. I have a template that you can follow to makes things easier for you.
User_19390 | Dec 20, 2018, 23:56 PM

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Hello, are you there?
User_19390 | Dec 20, 2018, 23:59 PM

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helloo
wittywriter | Dec 21, 2018, 00:14 AM

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thank you for assigning, when do you need this??
wittywriter | Dec 21, 2018, 00:14 AM

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today. i have a template to make things a lot easier. do you want me to send that now to you too?
User_19390 | Dec 21, 2018, 00:15 AM

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yes sed please
wittywriter | Dec 21, 2018, 00:16 AM

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okay, i just did. its the download 2
User_19390 | Dec 21, 2018, 00:29 AM

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thank you
wittywriter | Dec 21, 2018, 00:33 AM

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how long do you think it will take you?
User_19390 | Dec 21, 2018, 00:40 AM

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in 4hours or so i will be through
wittywriter | Dec 21, 2018, 00:41 AM

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please add index citations if you used a source. thank you!!
User_19390 | Dec 21, 2018, 00:44 AM

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okey
wittywriter | Dec 21, 2018, 00:46 AM

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do you have any other questions?
User_19390 | Dec 21, 2018, 00:49 AM

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any graph??
wittywriter | Dec 21, 2018, 00:50 AM

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its in download 1
User_19390 | Dec 21, 2018, 00:57 AM

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download 1 has only a table
wittywriter | Dec 21, 2018, 00:58 AM

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thats the table i completed
User_19390 | Dec 21, 2018, 00:59 AM

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Assume that you have decided to start your own Internet business to sell cookbooks online (justcookbooks.com). You estimate that the annual cost of this business in the first year will be as follows: Fixed explicit costs (annually): Technology (Web design and maintenance) $5,000 Postage and handling $1,000 Miscellaneous $5,000 Equipment $4,000 Overhead $1,000 TOTAL Explicit Fixed Costs (annual) $16,000 Fixed implicit costs (annually): Lost wages from job given up (annual) $50,000 Variable cost = $20 per book.
User_19390 | Dec 21, 2018, 01:00 AM

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Part 1: Assume that the equation for demand is Q = 40,000 – 500P, where Q = the number of cookbooks sold per year P = the retail price of books Using the information above, fill in the attached chart (note that quantity is just the solution of the demand curve above; the first two lines of the table have been completed for you – you need to complete all other lines in the table): Indicate the maximum profit price and quantity by highlighting those particular values with red font.
User_19390 | Dec 21, 2018, 01:00 AM

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did that help?
User_19390 | Dec 21, 2018, 01:14 AM

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let me just work with the table, its a little bit clear
wittywriter | Dec 21, 2018, 01:15 AM

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attached
wittywriter | Dec 21, 2018, 04:06 AM

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