Suppose a firm has an annual budget of 100000 in wages and

Assignment Help Business Economics

Reference no: EM13351378

Suppose a firm has an annual budget of $100,000 in wages and salaries, $50,000 in materials, $20,000 in new equipment, $10,000 in rented property, and $20,000 in interest costs on capital. The owner-manager does not choose to pay himself, but he could receive income of $80,000 by working elsewhere. The firm earns revenues of $210,000 per year.

1) What are the annual accounting costs for the firm described above?

2) What are the annual explicit costs for the firm described above?

3) What are the annual implicit costs for the firm described above?

4) What are the annual economic costs for the firm described above?

5) What is the accounting profit for the firm described above?

6) What is the economic profit for the firm described above?

Reference no: EM13351378

Questions Cloud

Q1vodafone group plc is a british multinationalwhich is one : q1vodafone group plc is a british multinationalwhich is one of the worlds largest mobile telecommunications

Q1 in a pure exchange economy with two goods g and h two : q1. in a pure exchange economy with two goods g and h two traders amos and elise have cobb-douglas utility functions.

Emphasize why the need for instrumental variables arises : emphasize why the need for instrumental variables arises and how authors have approached the problem. make sure to

Currently at a price of 2 each 250 popsicles are sold per : currently at a price of 2 each 250 popsicles are sold per day in the perpetually hot town of rostin. consider the

Suppose a firm has an annual budget of 100000 in wages and : suppose a firm has an annual budget of 100000 in wages and salaries 50000 in materials 20000 in new equipment 10000 in

For a child i living in a particular a school district let : for a child i living in a particular a school district let voucher be a dummy variable equal to one if a child is

Compare 2 policies to curb pollutionqs10p amp : compare 2 policies to curb pollutionqs10p amp qd100-10ppollution costs 2.50galloncalculate price quantity and social

Part-1instructions1what do you meant by the internet2what : part-1instructions1.what do you meant by the internet?2.what is the world wide web?3.what is the relationship between

Suppose a worker is offered a wage of 5 per hour plus a : suppose a worker is offered a wage of 5 per hour plus a fixed payment of 40. what is the equation for the worker

User Account

All Pages