Discuss the difference between how accountants and economist

Assignment Help Microeconomics
Reference no: EM13544516

Discuss the difference between how accountants and economists calculate profit giving example of costs each might use in this calculation.

  • Will accounting profit and economic profit always be different?

• When might accounting profit and economic profit be the same?

 

Reference no: EM13544516

Questions Cloud

What is the relevance of the coase theorem : Some years ago, conservation groups paid cattlemen in the Western United States to move their herds away from wild buffalo herds so that the buffalo would have more feed and would not have to compete with the cattle. What is the relevance of th..
The exchange rate between the u.s. dollar : 1. (a) Assume that the exchange rate between the U.S. dollar ($) and the Mexican peso (P) is pegged/fixed at ER=$1/P4. Assume that, initially, this exchange rate corresponds to equilibrium in the foreign exchange market. Illustrate the initi..
Submit annotated bibliography source #2 : Submit Annotated Bibliography Source #2 on the article The M3-Competition: Results, Conclusions, and Implications. Milestone Three: Resource #3
What is the height of the lighthouse above sea level : An observer standing on a beach can just see the top of a lighthouse 15 miles away. The eye height of the observer abouve sea level is 5.7 feet. what is the height of the lighthouse above sea level? Show your work.
Discuss the difference between how accountants and economist : Discuss the difference between how accountants and economists calculate profit giving example of costs each might use in this calculation.
Describe economies and diseconomies of scale : Explain the law of diminishing marginal returns and Describe economies and diseconomies of scale
Calculate the flow rate in the pipe : Two reservoirs are connected by a pipeline. The pipeline is 1 m in diameter and has a friction factor of 0.03. The elevation difference between the reservoirs is 30 m. The two reservoirs are 5 km apart. The sum of the minor loss coefficients is 34. C..
Is climate change a real threat to the global economy : Is climate change a real threat to the global economy?
What is the total delay to the passengers in the 20 depart : An airport runway has a capacity of 60 operations (ie landing and take-offs) per hour. In a particular hour, there are 30 landings evenly spaced over the hour.

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

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