Calculate the economic profits of biff

Assignment Help Business Management
Reference no: EM131369261

Biff owns and operates a golf driving range on land that he also owns. Last year his accountant calculated that his driving range makes $50,000 profits per year. Last year a property management company offered to lease Biff's land from him for $80,000 per year forever. Calculate the economic profits of Biff's driving range last year. If the property management company offers the same land lease deal to Biff this year, should he take the deal? Explain why or why not, and use your calculation of Biff's economic profits in your explanation. (This is a simplified question that you must answer; the answer "insufficient information" is unacceptable.)

Reference no: EM131369261

Questions Cloud

What is the minimum temperature rise possible : Air at 14.7 psia and 70 °F is compressed adiabatically by a centrifugal compressor to a pressure of 100 psia. What is the minimum temperature rise possible? Explain.
About price-takers and price-setters : we learn about Price-Takers and Price-Setters. Pick a unique company/product in the U.S. that is a Price-Setter and discuss why that company is a Price-Setter. Secondly, pick a company/product that is a Price-Taker and discuss how they could become a..
Pharmacy uses continuous review system : To ensure a service level of 98%, a pharmacy uses a continuous review system for its inventory of flu vaccines. The calculated reorder point is 20 on-hand flu vaccines. Curiously, a recent new-hire at the pharmacy asks you "What is a 98% service leve..
What is considered to be appropriate treatment for persons : You are the special agent-in-charge of the area field office for the Federal Bureau of Investigation. The Assistant U.S. Attorney (AUSA) has asked you about a homicide in which a hostage taker took a gas station attendant and two customers hostage..
Calculate the economic profits of biff : Last year a property management company offered to lease Biff's land from him for $80,000 per year forever. Calculate the economic profits of Biff's driving range last year. If the property management company offers the same land lease deal to Biff..
Describe how hobby lobby views the human : I want you to describe how Hobby Lobby views the human. How does their understanding of humans affect the way they do business? Finally, for the "Metaethical Dimension" of ethics, I want to know what you think.
Leading multinational firm operating within medical industry : A leading multinational firm operating within the medical industry is completing the development of adhesive drapes used primarily for pediatric burn victims. Demonstrate an understanding of marketing opportunity analysis in marketing decision making..
Which is the correct picture for the sound waves : An object, shown as the dark circle below, is moving along and emitting sound waves. The sound waves that were emitted by the object at times 1 second (one second ago), 2 seconds, and 3 seconds are shown below.
What are fabrication methods of ironmongery : What are fabrication methods of ironmongery

Reviews

Write a Review

Business Management Questions & Answers

  Caselet on michael porter’s value chain management

The assignment in management is a two part assignment dealing 1.Theory of function of management. 2. Operations and Controlling.

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. Due to increase in the preference for light beer drinkers, Chris Prangel wants to introduce light beer version in Mountain Man. An analysis into the la..

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. An analysis into the launch of Mountain Man Light over the present Mountain Man Lager.

  Analysis of the case using the doing ethics technique

Analysis of the case using the Doing Ethics Technique (DET). Analysis of the ethical issue(s) from the perspective of an ICT professional, using the ACS Code of  Conduct and properly relating clauses from the ACS Code of Conduct to the ethical issue.

  Affiliations and partnerships

Affiliations and partnerships are frequently used to reach a larger local audience? Which options stand to avail for the Hotel manager and what problems do these pose.

  Innovation-friendly regulations

What influence (if any) can organizations exercise to encourage ‘innovation-friendly' regulations?

  Effect of regional and corporate cultural issues

Present your findings as a group powerpoint with an audio file. In addition individually write up your own conclusions as to the effects of regional cultural issues on the corporate organisational culture of this multinational company as it conducts ..

  Structure of business plan

This assignment shows a structure of business plan. The task is to write a business plane about a Diet Shop.

  Identify the purposes of different types of organisations

Identify the purposes of different types of organisations.

  Entrepreneur case study for analysis

Entrepreneur Case Study for Analysis. Analyze Robin Wolaner's suitability to be an entrepreneur

  Forecasting and business analysis

This problem requires you to apply your cross-sectional analysis skills to a real cross-sectional data set with the goal of answering a specific research question.

  Educational instructional leadership

Prepare a major handout on the key principles of instructional leadership

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd