Microeconomics 18th Edition by Campbell McConnell, Stanley Brue, Sean Flynn

Exercise 15

CORPORATE ANNUAL REPORTS-IDENTIFY FIXED AND VARIABLE COSTS Use the Google search engine at www.google.com to locate the home page of a company of your choice. Find and review the company's income statement in its annual report and classify the nonrevenue items as either fixed or variable costs. Are all costs clearly identifible as either fixed or variable What item would be considered accounting profit Would economic profit be higher or lower than this accounting profit