User Account

All Pages

Understand distinction between explicit and implicit costs

Assignment Help Business Economics
Reference no: EM131196479

The concept of opportunity cost is an important one in economics. It is essential to understand the distinction between explicit and implicit costs. For this assignment, consider an event at work that you company is considering doing, such as a new product, adding more employees, etc. their opportunity cost of going to school is. Include all implicit and explicit costs of this venture. In addition, analyze the value of this project and how the costs will be short run and the long run.

Submit a 4-page essay.

Reference no: EM131196479

Questions Cloud

Ways of explaining the conquest : Compare older ways of explaining the conquest (such as Moctezumas supposed belief that Hernando Cortes was a gold) with scholars more recent explanations. What beliefs about Native Americans does each set of explanations reflect?
Post the transactions to t-accounts : Selected transactions from the journal of Kati Tillman, investment broker, Instructions- Post the transactions to T-accounts. Prepare a trial balance at August 31, 2015
Would you have been ready to declare independence : Put yourself in their shoes. If you had read this (what am I talking about, of course you have READ this) back in 1776, would you have been ready to declare independence?
Population and environment of the new world : What was the impact of European conquest on the population and environment of the new world?
Understand distinction between explicit and implicit costs : The concept of opportunity cost is an important one in economics. It is essential to understand the distinction between explicit and implicit costs. For this assignment, consider an event at work that you company is considering doing, such as a new p..
Determine the balance retained by the trustee : ACC 304 Determine the balance retained by the trustee as at 30 June 2016 and calculate the tax payable by the trustee for the year ended 30 June 2016.
How much energy is dissipated in the resistor in 5 s : An AC source which produces a peak voltage of 169.7 V is connected across a resistor of 10 Ω. How much energy is dissipated in the resistor in 5 s?
Why observation is an essential tool of child guidance : One of the parents of a child in your class has become extremely frustrated with her child's ability to pay attention. Based on what you have learned about perception in early childhood (pp. 65-71 in the course text), summarize what you would say ..
Consider the arguments for restricting trade : Imagine that you are a lobbyist for timber, an established industry suffering from low prices foreign competition, and you are trying to get Congress to pass trade restrictions. Which two or three of the five arguments do you think would be most pers..

Reviews

Write a Review

Business Economics Questions & Answers

  Researchers have found hybrid of corn-technological break

Researchers have found a hybrid of corn that is cheaper to grow. This technological break through

  What challenges does cartel face as they try to raise prices

Several questions in this problem set are based on the 8/19/12 Wall Street Journal article "Cartel Pushes Up Price of Rubber." This article is at the end of the module on Antitrust Policy. Try to read the entire article carefully first.. What challen..

  Concerned about the trade deficit

If we start with the premise that the US economy is a consumer driven (consumption) economy, would consumers saving their money hurt the economy? If there are more investment opportunities in the US vs other countries, doesn't this speak to the healt..

  Illustrate what is the equilibrium price of hotel rooms

Illustrate what is the equilibrium price and quantity of hotel rooms on Manhattan Island.

  Evaluate keynesian economists besides john maynard keynes

Evaluate the Keynesian economists, besides John Maynard Keynes. Determine which economist you feel made the most significant contribution to economic theory. Justify your selection.

  The net profit earned in business rs 60000 but the net

the net profit earned in business rs 60000 but the net sales occurred during the year are rs. 300000.compute the net

  When is the price elasticity of demand likely

Whenever a determinant of supply other than ---------price changes, the supply curve shifts. Elasticity is.  When the price of used cds is $4, Daphne buys five per month. When the -----   price is $3, she buys nine per month. If the price of milk ris..

  This change undermines the marketplace for the replacement

This change undermines the marketplace for the replacement which is about twice the size of the marketplace for T3MP.

  Purchase cost of the warehouse

For depreciation purposes, the purchase cost of the warehouse is divided into $100,000 in land also $400,000 in building. The building is a CCA Class 1 asset also is depreciated accordingly.

  Preparing to conduct business research

Preparing to Conduct Business Research

  Balance of trade

Suppose the country of Liliput exported 229 billion dollars worth of goods while they omported 489 bilion dollars worth of goods in the last calendar year. Calculate Liliput's balance of trade:

  Strongly united in their belief that stock market

Economists are strongly united in their belief that the stock market is

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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