What is anthony implicit cost

Assignment Help Business Economics
Reference no: EM133083718

Anthony Figueroa is a CPA, who works for an accounting consulting firm. His annual salary income is $70,000. Anthony is considering opening up his own consulting firm. He estimates that the annual rent for an office would cost him $20,000; a secretary would cost $24,000 per year. If he would rent office equipment, he would have to pay $11,000 per year. The purchase of required supplies, payment of electricity bills, water and telephone bills, would cost approximately $5,000 a year. Anthony estimates that the revenues that he would generate with consulting services would be $120,000 a year.

What is Anthony's implicit cost?

Reference no: EM133083718

Questions Cloud

Difference between a regular car and an suv : How long would you need to leave your refrigerator door open to use as much extra energy as the difference between a "regular car" and an SUV in the first year
Describe market concentration curve : In an industry there are 11 firms with market shares: 10%, 20%, 15%, 5%, 30%, 10%, and five additional firms with 2% each.
Requirements of national law and national regulations : List the four requirements of the National Law and National Regulations in regards to the program that services provide.
Define the managerial economics : 1. Define the Managerial Economics and write its scope. 2. What are the uses of Managerial Economics?
What is anthony implicit cost : Anthony Figueroa is a CPA, who works for an accounting consulting firm. His annual salary income is $70,000. Anthony is considering opening up his own consultin
What is the initial cost of a machine : What is the initial cost of a machine with a life of 6 years that has a salvage value of $95,000 and a capital recovery cost of $60,000 per year? The firm uses
Facts about pakistan ancient history : -What would you consider the three most important facts about Pakistan's Ancient History? List them in order of importance and briefly explain why they are impo
Development of atm machines : Explain how the development of ATM machines, automatic electronic payment, NETs and internet banking affect the money multiplier.
How strong right now is the us economy : Your 15 year-old brother asked you the following question: "How strong right now is the U.S. economy?" In an essay of roughly 100 words, please provide an answe

Reviews

Write a Review

Business Economics Questions & Answers

  Draw an organizational chart to represent current structure

The company has three plants and they are located 30 miles apart, one on the north side of town, one on the south side, and one on the west side of town. Draw an organizational chart to represent the current structure of The MUNSON Company. Rather th..

  Sampling distribution for the sample means

Let d=X-Y, where X and Y are random variables with normal distribution. Assume that you know both the mean and variance of X and Y

  Prices rise when a government prints too much money

One of the economic principles says: "Prices rise when a government prints too much money".  Explain and justify in details how this principle works. Suppose in a bank the amount of reserves $80 and the reserve ratio R= 20%. Find the increase in the ..

  Explain relationship between total utility-marginal utility

Define and explain the relationship between total utility, marginal utility, and the law of diminishing marginal utility. Describe how rational consumers maximize utility using the utility maximization rule.

  Explain the effective communication skills

ABC company limited's management and staff have little or no efforts on improving on their communication skills. They have argued that every human being is by n

  Graduation rate and acceptance rate

The administrators are assuming that there (is or is not) a? cause-and-effect relationship between graduation rate and acceptance rate.

  How much money will be created in the banking system

Suppose the Fed purchases $1,000 worth of Treasury bonds. Suppose also that the required reserve ratio is 10%. How much money will be created in the banking system?

  What combination of candy bars and potato chips

The table below shows Liz's total utility (TU) from candy bars and potato chips. Her budget is $4 per day. The price of a candy bar is $1.00 and the price of a

  Simply change the quantity demanded

simply change the quantity demanded

  What are some other potential sources of economic growth

Look at the differences in per capita GDP growth of the following countries in 2006: What factors, such as international trades, might explain such differences in per capital GDP growth rates? What are some other potential sources of economic growth?

  Determine whether or not price discrimination exists

Consider the following examples of prices. For each example, determine whether or not price discrimination exists and explain why or why not.

  Q1 corporate probability declined by 20 percent from 2008

q1. corporate probability declined by 20 percent from 2008 to 2009. elucidate presentation percentage that would use to

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