User Account

All Pages

What is his profit or loss by an accountant’s definitions

Assignment Help Econometrics
Reference no: EM131402013

Economan has been infected by the free enterprise bug. He sets up a firm on extraterrestrial affairs. The rent of the building is $4,000, the cost of the two secretaries is $40,000, and the cost of electricity and gas comes to $5,000. There's a great demand for his information, and his total revenue amounts to $100,000. By working in the firm, though, Economan forfeits the $50,000 he could earn by working for the Friendly Space Agency and the $4,000 he could have earned as interest had he saved his funds instead of putting them in this business.

a. What is his profit or loss by an accountant's definitions?

b. What is his profit or loss by an economist's definitions?

Reference no: EM131402013

Questions Cloud

The social responsibility of business is to increase profits : In 1970, Milton Friedman wrote an article titled "The Social Responsibility of Business is to Increase its Profits" that sparked a debate about corporate responsibility that remains heated to this day. Read the Schwartz and Saiia article, "Should ..
Liquidating long-term assets : Explain why a firm might be reluctant to meet its short-term liquidity needs by liquidating long-term assets.
Explain in context what statistically significant means : Explain in this context what statistically significant means.- Comment on the fact that this research was supported by funding from Motorola, a manufacturer of cell phones.
Financial analysis of the three different sites : Conduct research on at least three reputable online job sites in the USA and provide financial analysis of the three different sites individually and independently. the report should be in APA style.
What is his profit or loss by an accountant’s definitions : By working in the firm, though, Economan forfeits the $50,000 he could earn by working for the Friendly Space Agency and the $4,000 he could have earned as interest had he saved his funds instead of putting them in this business.
How does inequality affect these life chances : Considering the basic assertions of the Davis/Moore functionalist theory of social stratification discuss the argument that simply says that rewards reflect one's skills and credentials as well as the importance of one's job
What is the weight percent of copper in chalcopyrite : What is the weight percent of copper in chalcopyrite? Which would contain more copper-a hundred kilograms (kg) of chalcopyrite or 100 kg of chalcocite?
Explain the cash conversion cycle : Explain the cash conversion cycle (CCC). Describe the CCC for your employer or company in an industry in which you're interested. What are some specific things that your company could do to decrease your cash conversion cycle?
Analyze the needs and motivation of the target market : You are a marketing manager for a health and beauty organization and need to market a new brand of toothpaste that fits into your company's "Fit for Life" product line. The "Fit for Life" product line focuses on a holistic approach to health and w..

Reviews

Write a Review

Econometrics Questions & Answers

  Find the amounts of goods x and y the consumer will purchase

Assume a consumer with the utility function U= U (X, Y) = (X + 2) (Y + 1) And the budget constraint (M = 95, Px =10 and Px =5) 95 = 10x + 5Y a. Set up the constrained maximization problem, and derive the first-order conditions.

  Do the social benefits of monitoring exceed the costs

Does any country, acting unilaterally, have an incentive to monitor El Niño?

  Calculate the amount of the monthly lease payment

Penelope wants to buy a car that is worth $43,195 by making a $4300 down payment and arranging a four-year lease that calls for monthly payments in advance, interest of 2.91 percent compounded monthly, and a buyout payment of $20,000 at the end of..

  Does free trade equate to fair trade

Does free trade equate to fair trade? Does free trade exist anywhere in the world? Respond to the questions and support your answers with examples.

  Estimate where the turning points are on the graph

(a) Give a qualitative sketch of the graph of the polynomial whose equation is f(x) = x(x - 2)2 (x + 3)3 (2x + 5) (b) estimate where the turning points are on the graph.

  What are the values of the demand and supply elasticities

where P is the price of cigarettes in dollars and Q is in millions of cigars Using calculus, show that the demand and supply curve have constant elasticity along their entire length. What are the values of the demand and supply elasticities

  Determine the validity of a significant source of company

What procedures should an auditor carry out to determine the validity of a significant source of company revenue?

  What is rational ignorance. how can it affect voting.

Why do newspapers often support subsidies for professional sport facilities?

  What is the value of the countrys household production

Suppose a country's GDP equals $500 billion for a particular year. Economists in the country estimate that household production equals 40% of GDP. What is the value of the country's household production for that year. Counting both GDP and househo..

  Conclude that ohio is below the national average

ACT Scores, A survey of 1000 students nationwide showed a mean ACT score of 21.4. A survey of 500 Ohio scores showed a mean of 20.8. If the poppulation standard deviation in each case is 3,

  At what price does a cigarette pack sell at each stage

At what price does a cigarette pack sell at each stage in the distribution network In other words, what is the selling price for the retailer, the wholesaler, and smokey smokey - the manufacturer

  Find what would be the inflation rate for 2308

Suppose a typical consumer buys 20 units of food and 10 units of clothes in the year 2307, when the price per unit of food is 100 and the price per unit of clothes is 200. In 2308, when the typical consumer buys 20 units of food

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