A firm produces 400 books and sells each book for $15. If the explicit cost of producing the books is $4,500 and the implicit cost is $1,000, the firm’s economic profit is:
$0
$500
$1,000
$1,500
Answers
A firm produces 400 books and sells each book for $15. If the explicit cost of producing the books is $4,500 and the implicit cost is $1,000, the firm’s Economic profit is $500
The total revenue earned by the firm from producing and selling 400 books at $15 per book is:
Total revenue = 400 x $15 = $6,000
The explicit cost of producing the books is given as $4,500, which is the actual out-of-pocket cost incurred by the firm.
The implicit cost of production is the opportunity cost of using the firm's own resources, such as the owner's time and labor, which is given as $1,000.
The total economic cost of production is the sum of explicit and implicit costs, which is:
Total economic cost = explicit cost + implicit cost = $4,500 + $1,000 = $5,500
The economic profit of the firm is the difference between total revenue and total economic cost, which is:
Economic profit = Total revenue - Total economic cost = $6,000 - $5,500 = $500
Therefore, the firm's economic profit is $500.
To know more about economic profit here:
https://brainly.com/question/29585616#
#SPJ11
Related Questions
On a demand curve which of the following causes movement along the curve instead of a shift to the left or right?
A. expectation of price
B. income of the consumer
C. price of the product
D. price of similar products
Answers
On a demand curve the causes movement along the curve instead of a shift to the left or right is: C. price of the product.
What is the causes movement along the curve instead of a shift to the left or right?A change in any other variable, such as income, expectations, or the price of similar products, will cause a shift in the demand curve either to the left or right.
However, a change in the price of the product itself will cause a movement along the demand curve. When the price of a product increases, the quantity demanded of that product will decrease, and when the price of a product decreases, the quantity demanded of that product will increase. This movement along the demand curve occurs because consumers are more or less willing to purchase the product at different prices.
Therefore, a change in the price of the product causes a movement along the demand curve, not a shift to the left or right.
Learn more about demand curve here:https://brainly.com/question/30641757
#SPJ1
$400,000, and his personal bank account has a balance of $1,200. Identify the principle or assumption that best matches the situation: a. Michael's personal assets are not recorded on the Apartment Exchange's balance sheet. b. The Apartment Exchange records furniture at its cost of $9,000, not its market value of $13,000. c. The Apartment Exchange reports its financial statements in U.S. dollars. d. Michael expects the Apartment Exchange to remain in operations for the foreseeable future. a. Michael's personal assets are not recorded on the company's balance sheet:
Answers
Answer:
a. Michael's personal assets are not recorded on the company's balance sheet:
Explanation:
the question in incomplete, so I looked it up:
Michael McNamee is the proprietor of a property management company, Apartment Exchange, near the campus of Penscola State College. The business has cash of $8,000 and furniture that cost $9,000 and has a market value of $13,000. The business debts include accounts payable of $6,000. Michael's personal home is valued at $400,000, and his personal bank account has a balance of $1,200. Identify the principle or assumption that best matches the situation:
In accounting, the economic entity principle states that a company's financial records are separate and distinct from the financial records of its owners. Even though Michael is the owner of company, his personal assets should not be included in the company's financial statements.
Maximum profit can occur when marginal profit is zero. True O False
Answers
The statement "Maximum profit can occur when marginal profit is zero" is not entirely true. The correct answer is False.
What is Marginal profit?Marginal profit refers to the additional profit a company generates by producing one more unit of a product or providing one more service. Marginal profit is zero when the total cost of producing an additional unit of a product equals the total revenue earned from selling that unit of the product. The additional benefit that a company would get from producing one more unit would be equal to the additional cost of producing one more unit. Hence, the profit would not increase or decrease.
At that stage, the company is operating at the highest point of its production efficiency and producing beyond this point would result in decreasing profits. Therefore, at this point, the firm has reached its optimal capacity.
The maximum profit is obtained when the marginal cost is equal to marginal revenue. Therefore, the statement "Maximum profit can occur when marginal profit is zero" is not entirely true.
To know more about marginal profit, refer to the link below:
https://brainly.com/question/30236297#
#SPJ11
Great Lakes Packing has two bond issues outstanding. The first issue has a coupon rate of 3.54 percent, a par value of $1,000 per bond, matures in 4 years, has a total face value of $3.8 million, and is quoted at 103 percent of face value. The second issue has a coupon rate of 6.10 percent, a par value of $2,000 per bond, matures in 23 years, has a total face value of $8.1 million, and is quoted at 95 percent of face value. Both bonds pay interest semiannually. The company's tax rate is 39 percent. What is the firm's weighted average aftertax cost of debt
Answers
Answer:
3.20%
Explanation:
The firm's weighted average aftertax cost of debt can be determined by first of all determining the before-tax cost of each debt.
Using a financial calculator, the before-tax costs of debt are ascertained as follows:
Bond 1:
N=8(number of semiannual coupons in 4 years)
PMT=17.70 (semiannual coupon=face value*coupon rate/2=$1,000*3.54%/2=$17.70)
PV=-1030(current price=$1000*103%=$1030)
FV=1000(the face value is $1000)
CPT
I/Y=1.37%(the semannual yield, annual yield=1.37%*2=2.74%)
after-tax cost of first debt=2.74%*(1-39%)=1.67%
Bond 2:
N=46(number of semiannual coupons in 23 years)
PMT=30.50 (semiannual coupon=face value*coupon rate/2=$1,000*6.10%/2=$30.50)
PV=-950(current price=$1000*95%=$950)
FV=1000(the face value is $1000)
CPT
I/Y=3.26%%(the semannual yield, annual yield=3.26%%*2=6.52%)
after-tax cost of second debt=6.52%*(1-39%)=3.98%
market value of first debt=$3.8 million*103%=$3,914,000
market value of second debt=$8.1 million*95%=$7,695,000
total market value of debts=$3,914,000+$7,695,000=$11,609,000
firm's weighted average aftertax cost of debt=(1.67%*$3,914,000/$11,609,000)+(3.98%*$7,695,000/$11,609,000)
firm's weighted average aftertax cost of debt=3.20%
1. A company is creating a new product and must determine how to effectively create the product as well as appeal to the market and target a wide range of customers.
Answers
Answer and Explanation:
One good way to know how to effectively create a product and also target quite a wide range of consumers is to watch out for trends. Through the internet and social media, a producer can tell what product consumers would be ready to buy at a certain period due to the fact that it is what is trending at that time. The producer could go ahead to add new features to the product to make it stand out for potential customers.
.
The information regarding the new product should be explained in the explanation part.
The following information should be considered:
There is one good way for knowing how to effectively develop a product and also there is a wide range of consumers is to watch out for trends.By using the internet and social media, a producer can tell what product consumers would be ready to purchase at a specific period.Learn more: https://brainly.com/question/25300841?referrer=searchResults
Nominal and real returns [ lo4] an investment offers a total return of 11.7 percent over the coming year. janice yellen thinks the total real return on this investment will be only 9 percent. what does janice believe the inflation rate will be over the next year
Answers
the inflation rate over the next year will be 4.50%
Does inflation make sense?Although low inflation might be detrimental, both levels can hurt the economy. The Fed will adopt the opposite strategy when the economy is having trouble and inflation is too low by cutting interest rates or purchasing assets to boost cash flow.
How is inflation calculated in this scenario?(1 + R) = (1 + r)(1 + h)
H = (1 + .16)/(1 + .11) - 1
H = 0.0450 or 4.50%
What inflation rate is ideal?As assessed by the yearly change in the price index for personal consumption expenditures, the Federal Open Market Committee (FOMC) believes that inflation of 2% over the longer term is most compatible with the Federal Reserve's objective for maximum employment and price stability.
Learn more about inflation rate here:
brainly.com/question/30112292
#SPJ4
Along with the amount of financial aid, which is the most important to pay attention to when trying to determine financial aid costs in relation to your personal budget?
Answers
Prompt attention to the interest rates is important in determining financial aid costs.
What is Financial aid?This is the money which is usually given to students to help for school or other courses.
These aids usually come with an outlined interest rates which should be taken note of in order to determine financial aid costs in relation to the individual's personal budget.
Read more about Financial aid here https://brainly.com/question/835751
Answer:
the amount of money and hours you can earn through work-study?
Explanation:
why do retailers offer credit?
Answers
Answer:
Iam sorry
Explanation:
I don't know the answer
Alan Bird's research on global leadership divided business competencies into three categories: (1) those needed to manage the business, (2) those needed to manage people and relationships, and (3) those needed to manage the
Answers
Alan Bird's research on global leadership is one whose business competencies into three categories where there is those needed to manage self.
What is managing the self?The act of Self-management, is known to be one where a person or firm is said to be in charge of themselves or they are “self-control” or “self-regulation,”.
This term connote the ability to monitors one's emotions, thoughts, and behaviors well in a lot of situations as in the case with Alan Bird's research.
learn more about manage self from
https://brainly.com/question/18069347
Suppose that Canada can produce 100,000 hockey sticks or 10,000 gallons of maple syrup in a typical workweek, while Germany can produce 90,000 hockey sticks or 10,000 gallons of maple syrup in a typical workweek. From these numbers, we can conclude:
A. Canada has a comparative advantage in the production of hockey sticks.
B. Germany has a comparative advantage in the production of hockey sticks.
C. Canada has an absolute advantage in the production of maple syrup.
D. Germany has an absolute advantage in the production of maple syrup.
Answers
Answer:
A. Canada has a comparative advantage in the production of hockey sticks.
Explanation:
The computation is shown below:
For Canada
The Opportunity cost of Hockey is
= 10000 ÷ 100000
= 0.1 gallons of maple syrup
For Germany
The Opportunity cost of Hockey is
= 10000 ÷ 90000
= 0.11 gallons of maple syrup
So based on this, the option A is correct
And, the same is to be considered
Therefore all the other options would be wrong
true or false losing inventory for the year ended 31 August 2018 will be closing inventory for the year ended 31 August 2019
Answers
true because they closed
The process of controlling and making decisions about a business is called:
O Leadership
O Management
O Administration
Answers
Answer:
B. Management.
Explanation:
Management can be defined as the process of controlling and making decisions about a business.
The management comprises of top executives, board of directors or managers who generally control the affairs of a business firm or company.
Basically, they are saddled with the responsibility of defining the policies, set of rules, standards, and procedures so as to preserve or protect the company's assets, boost efficiency, enhance financial accountability, and prevent fraudulent behaviors among the employees.
Also, the decision-making process or responsibilities is essentially vested on the management of a business. Therefore, the management is typically responsible for the success, growth and development of their business.
You are applying to a job after reading the listing on a job board website. The listing requests that applicants email a copy of their resume to the company's recruiter. What's the best way to send your resume?
Answers
The best way to send your resume is to attach your resume to an email message addressed to the recruiter and explain that you are applying for the position in the body of the message. Option (D) is correct.
What is Resume?In order to list their qualifications for a position, job applicants must generate a formal document called a resume. A personalized cover letter that is included with a resume typically conveys interest in a particular position or business and attracts attention to the CV's most crucial details.
Someone is submitting a job application on the board's website. The applicant sends a copy of their resume to the hiring manager of the company while they are listening. The greatest format for introducing oneself is email correspondence. Mentioning the position is a necessary part of conveying information through a resume.
Therefore, Option (D) is correct.
Learn more about Resume, here;
https://brainly.com/question/862477
#SPJ1
Your question is incomplete, the complete question is :
You are applying for a job after reading the listing on a job board website. The listing requests that applicants email a copy of their resume to the company's recruiter. What's the best way to send your resume? a. send an email addressed to the recruiter explaining that you are applying for the position in the body of the message, and then copy and paste your resume below your explanation. b. attach your message explaining to the recruiter that you are applying for the position, and copy and paste your resume into the body of the message. c. print out your resume and email the recruiter asking for a mailing address so that you can mail your resume. d. attach your resume to an email message addressed to the recruiter, and explain that you are applying for the position in the body of the message.
Business process engineering, TQM, and Six Sigma programs and processes differ primarily because Multiple Choice O business process reengineering has to be used exclusively, whereas continuous Improvement tools like TOM and Six Sigma can be used in tandem. O business process engineering and TOM aim at one-time quantum improvement, whereas continuous Improvement programs like Six Sigma aim at ongoing improvements. O business process engineering aims at quantum gains on the order of 30 to 50 percent or more, whereas programs like TOM and Six Sigma stress incremental progress. O business process reengineering aims at improved productivity and reduced costs, whereas TQM and Six Sigma focus on better product quality and greater customer satisfaction. O business process reengineering is a tool for installing process organization, whereas TQM and Six Sigma concern defect-free production methods and the delivery of world-class customer service.
Answers
The correct answer is: Business process reengineering aims at improved productivity and reduced costs, whereas TQM and Six Sigma focus on better product quality and greater customer satisfaction.
While all three programs and processes aim to improve overall business performance, they differ in their specific goals and approaches. Business process engineering is focused on redesigning business processes to achieve significant gains in productivity and cost reduction. TQM (Total Quality Management) and Six Sigma, on the other hand, are both focused on achieving higher levels of quality in products and services, as well as greater customer satisfaction. While BPE aims for large, one-time improvements, TQM and Six Sigma stress incremental progress towards ongoing improvements.
Business process engineering, TQM, and Six Sigma programs and processes differ primarily because business process engineering aims at quantum gains on the order of 30 to 50 percent or more, whereas programs like TQM and Six Sigma stress incremental progress. While business process engineering focuses on significant, one-time improvements, TQM and Six Sigma aim for continuous, ongoing improvements to enhance product quality, customer satisfaction, and defect-free production methods.
To know more about TQM(Total Quality Management)
https://brainly.com/question/15190626
#SPJ11
how does controlling the budget balance power in the government
Answers
The government would have to run without a deficit if the nation had a balanced budget.
Almost all of the early deficits in the United States' debt history—dating back to the American Revolution—were brought on by war. It was the first time the nation had ever been debt-free when the federal government was able to pay off all of its debt in 1835.
Furthermore, since that time, wars, poor economic conditions, and stock market crashes have all contributed to the government's ability to increase the country's debt.
The budget of the federal government is one of the most divisive topics in modern American politics. Those who advocate a balanced budget contend that the government debt's rising level will have negative consequences down the road. Some people disagree, arguing that a government budget shouldn't be compared to one for a family and isn't meant to be.
Learn more about balanced budget:
https://brainly.com/question/29546635
#SPJ4
A customer purchases stock for $40 per share and holds it for 1 year, selling it for $50 per share exactly 12 months after the date of purchase. Four quarterly qualifying dividends of $.50 were paid during the year. If the customer's tax bracket is 30%, what is the after-tax rate of return?
Answers
Answer:
24.75%
Explanation:
the customer will be taxed in two different rates:
long term capital gains = $50 - $40 = $10 per stock x (1 - 15%) = $8.50
interests are taxed as normal income = (4 x $0.50) x (1 - 30%) = $1.40
total after tax gains = $9.90
after tax rate of return = $9.90 / $40 = 0.2475 = 24.75%
The model and concepts used to develop the economics of __ are similar to those used to illustrate the effects of:
Answers
Answer:international trade: trade between individuals
Explanation:
I got it right
The accounting information of a privately held company is generally available to all of the following except for Group of answer choices competitors governmental agencies investors creditors and lenders
Answers
The accounting information of a privately held company is generally available to all of the following except for A. Competitors.
What is a privately held company?A privately held company is a private company.
It does not sell its stock or shares to the public.
Examples of privately held companies include:
Sole proprietorshipsLimited liability corporations (LLCs)S corporations (S-corps)Some C corporations (C-corps).Thus, the accounting information of a privately held company is generally available to all (governmental agencies, investors, creditors, and lenders) except for A. Competitors.
Learn more about privately held companies at https://brainly.com/question/4720585
#SPJ1
Compute the future value of $2,500 continuously compounded for (do not round intermediate calculations. round the final answers to 2 decimal places. omit $ sign in your response.)
Answers
If we value some thing or a person, we assume that they're essential and also you admire them. I value the opinion of my husband and we agree on maximum matters. 3. variable noun. The fee of something is how tons cash it's miles really worth.
Values help us live with route and reason – like a guiding compass. something goes on in our lives, our values can show us a path forward, and assist us make higher alternatives. Values are also in detail linked to our feel of self, and they may be crucial for our intellectual health.
Nau ew N=es B S D
a)|destiny price) $five,136.08 |=2500*exp(6*12%)
b)|future fee] $3,881.seventy seven |=2500*ExP(four*eleven%)
c) |future fee| $four,555.30 |=2500*Exp(12*five%)
d)|future cost| $5,034.38 |-2500*Exp(10*7%)
Learn more about value here
https://brainly.com/question/12151322
#SPJ4
_____ encompasses loyalty and a deep concern for an organization's welfare.
Answers
Affective commitment encompasses loyalty and a deep concern for an organization's welfare.
Affective commitment refers to a psychological attachment and emotional connection an individual develops towards an organization. It goes beyond mere job satisfaction and encompasses loyalty and a deep concern for the organization's welfare. Employees with high affective commitment feel a strong sense of belonging and identification with the organization's values, goals, and mission.
They are genuinely dedicated and willing to invest their time, effort, and energy to contribute to the organization's success. Affective commitment is driven by positive emotions, trust, and a belief in the organization's purpose, fostering long-term engagement, dedication, and a desire to support the organization through thick and thin.
Learn more about Affective commitment here:
https://brainly.com/question/31578798
#SPJ4
Which of the following is the "riskiest" investment?
a. а CD
b. a blue-chip stock
c. a growth stock
d. a corporate bond
Answers
Answer:
d
Explanation:
The "Heading1" paragraph style is a good choice to make a chapter name in a document stand out. False True
Answers
Answer:
The given statement is "True".
Explanation:
Content formatted with either a heading style initially appeared whenever users are using the perpendicular scroll pointer to peruse a memorandum. Headings can indeed be broadened and sometimes disappeared, as a component of Word’s overview component. Throughout the Navigation window, headings display as users check for text. Because once making a chart of material, individuals would be included.So the one listed above will be the right one.
General
Ledger
Cash in Bank
Advertising
Expense
Owner
Withdrawals
Office
Equipment
Electric
Expense
Repair
Expense
Owner's
Capital
Accounts
Receivable
●
Rent Expense
Sales from
Fees
Accounts
Payable
On the form provided, provide the following information for each account.
Classify the account as an asset, liability, owner's equity, revenue, or expense account.
Indicate whether the increase side is a debit or a credit.
• Indicate whether the decrease side is a debit or a credit.
●
Indicate whether the account has a normal debit balance or a normal credit balance.
Answers
Classifying the accounts and understanding their debit/credit sides and normal balances. Sales from Fees: Revenue, Increase - Credit, Decrease - Debit, Normal Credit balance.
Here's the information for each account:
1. General Ledger: This is a record-keeping system and doesn't have a specific classification.
2. Cash in Bank: Asset, Increase - Debit, Decrease - Credit, Normal Debit balance
3. Advertising Expense: Expense, Increase - Debit, Decrease - Credit, Normal Debit balance
4. Owner Withdrawals: Owner's Equity, Increase - Credit, Decrease - Debit, Normal Credit balance
5. Office Equipment: Asset, Increase - Debit, Decrease - Credit, Normal Debit balance
6. Electric Expense: Expense, Increase - Debit, Decrease - Credit, Normal Debit balance
7. Repair Expense: Expense, Increase - Debit, Decrease - Credit, Normal Debit balance
8. Owner's Capital: Owner's Equity, Increase - Credit, Decrease - Debit, Normal Credit balance
9. Accounts Receivable: Asset, Increase - Debit, Decrease - Credit, Normal Debit balance
10. Rent Expense: Expense, Increase - Debit, Decrease - Credit, Normal Debit balance
11. Sales from Fees: Revenue, Increase - Credit, Decrease - Debit, Normal Credit balance
12. Accounts Payable: Liability, Increase - Credit, Decrease - Debit, Normal Credit balance
I hope this helps you understand the classification, debit/credit sides, and normal balances of each account!
For such more question on credit sides:
https://brainly.com/question/20131001
#SPJ11
Provide 10%interest on capital value rs 2 lakh
Answers
Answer:
show time at first there
TRUE OR FALSE: A mathematics professor at a university would fall under both the Education and Training career cluster and the STEM career cluster.
Answers
Explanation: none
Which are barriers to entry in both monopolies and oligopolies?
Ownership and control of raw materials
Patents
Preemptive pricing
Large capital investment
Answers
The right response is that entry obstacles like ownership and control of raw materials, patents, and significant financial investments can exist in both oligopolies and monopolies.
Raw material ownership and control: In some sectors, a single company may own or control a sizable share of the raw materials required to make a product. Because they might not have access to the resources they need to compete successfully, this might make it difficult for new businesses to enter the market.
Patents: Companies that have been granted patents for novel goods or methods may temporarily monopolise their manufacture and distribution. Competitors may find it difficult to enter the market if they can't make a comparable product without violating the patent because of this.Substantial capital investment: To join the market and effectively compete, several sectors demand significant upfront capital investments.
learn more about oligopolies and monopolies here:
https://brainly.com/question/24288109
#SPJ4
What is the best way to use a credit card to build your credit history?
Answers
Answer:
All you have to do is pay off your credit card bill in full and on time each month, and just keep doing that.
Explanation:
what is the law of demand and supply
Answers
Answer:The law of supply and demand is a theory that explains the interaction between the sellers of a resource and the buyers for that resource. The theory defines what effect the relationship between the availability of a particular product and the desire (or demand) for that product has on its price.
Explanation:
Predict: How might learning tasks that are not part of your regular job make you a more valuable employee ?
Answers
Answer:
Success, Power, and Politics in the Workplace.
Strive to Understand and Support His Goals.
Communicate at the Right Volume.
Be Careful With the Water Cooler Conversations.
Save Her From Unwelcome Surprises.
Always Go in With a Plan.
Build Bridges Across the Organization.
Show off Your Work Without Being Obnoxious.
Explanation:
Answer:
Learning other tasks makes u more efficient your boss will begin to value u and your efforts to make his work better
How well does FedEx accomplish the key elements that must be completed at each stage of the strategic sourcing process? Explain your answer. How does the governance structure for supply chain management at Federal Express support the strategic sourcing process? Evaluate Federal Express's methods/efforts to align with its suppliers both operationally and strategically. Are there elements of the strategic sourcing process used at Federal Express that apply to manufacturing companies? Name one sourcing challenge faced by Federal Express and recommend a strategy to overcome this challenge.
Answers
As an AI language model, access to real-time information or the ability to evaluate current practices at FedEx. provide a general understanding of the strategic sourcing process.
Key elements of the strategic sourcing process:
Spend Analysis: Evaluating current spending patterns and identifying opportunities for cost savings and process improvement.
Supplier Evaluation and Selection: Assessing potential suppliers based on criteria such as quality, reliability, cost, and sustainability.
Negotiation: Engaging in discussions with suppliers to establish favorable terms, pricing, and contractual agreements.
Contracting: Formalizing the agreement with chosen suppliers through written contracts that outline responsibilities, terms, and performance metrics.
Supplier Relationship Management: Continuously monitoring and managing supplier performance, fostering collaboration, and resolving issues.
Learn more about AI language model here
https://brainly.com/question/30112977
#SPJ11