Consider the following information about a business Diane opened last year: price = $15, quantity sold = 25,000; implicit cost = $155,000; explicit cost = $260,000. What was Diane's economic profit? What was Diane’s accounting profit? Show your work!!

Answers

Answer 1
Answer:

Answer:

Economic profit = $-40,000

Accounting profit = $115,000

Explanation:

Accounting profit is total revenue less total cost or explicit cost.

Accounting profit = Total revenue - Total cost

Total revenue = 25,000 x $15 = $375,000

Total cost =  $260,000

Accounting profit = $375,000 -  $260,000 = $115,000

Economic profit is accounting profit less implicit cost or opportunity cost

Economic profit = Accounting profit -Implicit cost

= $115,000 - $155,000 = $-40,000

I hope my answer helps you

Answer 2
Answer:

Answer:

Accounting Profit = $115.000 and Economic Profit= -40.000

Explanation:

Accounting profit is the monetary costs a firm pays out and the revenue a firm receives.

Accounting Profit = Total Revenues - Explicit Costs

Accounting Profit = ($15 x 25000) -$260,000=375.000-$260,000

Accounting Profit = $115.000

Economic profit is the difference between the total revenue received by a business and the total explicit and implicit costs for a firm.

Economic Profit = Accounting Profit - Implicit Cost

Economic Profit= $115.000 -$155,000

Economic Profit= -40.000


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A scientist has samples of both nitrogen (N2) and hydrogen (H2). Both of these substances are odorless, colorless gases at room temperature. The scientist places the samples into a closed flask and heats the flask. A colorless gas that has a strong odor forms. Which of these best describes what happened?' A.
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Answers

Answer: C.  A new compound formed when nitrogen and hydrogen chemically reacted.

Explanation:

Due to the temperature increase, the atoms of both Nitrogen and Hydrogen reacted chemically with one another and formed a new compound which was still colorless but now had a strong odor as well.

This new compound is known as Ammonia with the chemical composition NH₃. It is formed when Hydrogen and Nitrogen react chemically. Ammonia is a colorless gas with a sharp strong odor.

Fizzy Inc. is a soft-drink manufacturing company. Anne, the production manager, works with a human resource consultant to design a new work flow for the production unit. Together they define the necessary inputs. These include raw materials, information, human resources, and _______________.A. skillsB. outputsC. work processesD. equipmentE. activity

Answers

Answer: Equipment

Explanation:

The necessary inputs for a new work flow in the production unit, would include: the raw materials, information, human resources and equipment.

The raw materials are the unprocessed units used for production, the human resources are employees that carryout production tasks, the information is the steps of production and the equipments are the machines used to make production easier.

Which is an example of an economic factor that affects the business environment

Answers

Here are a couple of things hope they help

1.)  Interest rates
2.) Taxes Inflation
3.) Currency
4.) exchange rates
5.) Consumer discretionary income
6.) Savings rates
7.) Consumer confidence levels
8.) Unemployment rate
9.) Recession
10.) Depression










expansionary monetary policy lowers , and increases demand for investment and consumer borrowing, which shifts aggregate demand to the . a. interest rates; right b. rates of return; left c. rates of return; right d. exchange rates; left

Answers

Expansionary monetary policy is an economic strategy that is implemented by the central bank to stimulate economic growth by increasing the money supply and lowering interest rates. The correct option Option A.

This policy is designed to increase investment and consumer borrowing in the economy, thereby increasing demand and shifting the aggregate demand curve to the right.

When interest rates are lowered, it becomes easier and cheaper for businesses and individuals to borrow money. This encourages increased investment and consumption, which stimulates economic growth. Lower interest rates also make saving less attractive, which can lead to increased spending and investment. As a result, aggregate demand shifts to the right.

The correct answer to the question is (a) interest rates; right. Expansionary monetary policy lowers interest rates, which increases demand for investment and consumer borrowing, and shifts aggregate demand to the right. This policy can be used to combat recession or slow economic growth by stimulating demand and increasing economic activity.

Overall, expansionary monetary policy can have a positive impact on the economy by increasing demand and promoting economic growth. However, it can also lead to inflation if the increase in demand outpaces the supply of goods and services, and the economy overheats.

Therefore, central banks must carefully balance the benefits of expansionary monetary policy with the potential risks of inflation. The correct option Option A. . interest rates; right

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When revising a budget, it is important to make choices that allow you to continue
money.

Answers

When revising a budget it is important to make choices that allow you to continue Saving money.

What is a budget?

Budget is an estimate that is made in projection of a project or task.

It helps to estimate the propose amount of money to be spent on a project and expected revenue over the time given.

Therefore, when revising a budget it is important to make choices that allow you to continue Saving money.

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Answer:

saving

Explanation:

The financial aid office wants to estimate how much students at their university typically spend on textbooks each term. They send an email survey to 350 randomly selected students asking them to report the amount they spent this term. What is the population of interest in this study?

Answers

Answer:

Entire students with valid email ID on records

Explanation:

In a data set, population refers to all entities or members that can be part of the study. Sample refers to the selected group from the population that actually form the part of study.

Population includes everyone who can be included in the study. In this case, the study is focused on estimating number of students at the university who spend on books each term. Here, entire student body with valid email id forms the population for the study. Valid email Id is necessary as the method used to take survey is through emails.