What is the firm monthly accounting profit

Assignment Help Business Economics
Reference no: EM132335797

Question

Suppose that each month a firm's monthly revenue is $10,000, its explicit costs are $7,000, and its implicit costs are $5,000. What is the firm's monthly accounting profit?

Reference no: EM132335797

Questions Cloud

Marginal cost schedule : Suppose a fish farm has the following marginal cost schedule:
Basic economics of the healthcare industry : What are the basic economics of the healthcare industry? Using the concepts of product versus resource, and each of the four types of resources.
Equilibrium wage and quantity of laborers hired : How has the drought impacted the market for this labor? What happens to the equilibrium wage and quantity of laborers hired?
What happens to equilibrium price and quantity in market : How does the drought impact the market for "high-value forage"? What happens to the equilibrium price and quantity in market?
What is the firm monthly accounting profit : Suppose that each month a firm's monthly revenue is $10,000, its explicit costs are $7,000, and its implicit costs are $5,000. What is the firm's monthly
Draw supply and demand graph with price floor : Draw the Supply and Demand graph with the price floor. Remember to label all points and axes.
Briefly explain the meaning of diversification : Briefly explain the meaning of diversification OR free riding on information and how they relate market efficiency or failure in the banking industry.
What would be the effect on the wage rate women received : Suppose the government were to subsidize the wages of all women in the population by paying their employers 50 cents for every hour they work.
What is the amount of her explicit costs : Based on this information, what is the amount of her explicit costs?

Reviews

Write a Review

Business Economics Questions & Answers

  Cell phone market as technology improvements bring cost down

What will happen in the cell phone market as technology improvements bring cost down?

  Inflation rate in the united states

If interest rates in the United States is 5% per year and in Australia it is 8%, and inflation rate in Australia is 6%, then using the Fisher effect

  Impact of the internet on consumers shopping behavior

Which of the following is an impact of the Internet on consumers' shopping behavior??

  Firm costs of production

Why is the market supply slightly linked to a firm's costs of production?

  Investment patterns in the economy

The interest rate affects the investment patterns in the economy. A friend of yours suggests a get-rich-quick scheme:

  Affects demand for money

Which of the following affects demand for money?

  Part of the rehabilitation of the downtown area

As part of the rehabilitation of the downtown area of a southern U.S. city, the Parks and Recreation Department is planning to develop the space below several overpasses into basketball, handball, miniature golf, and tennis courts. The initial cost i..

  Externalities that result from the use of fossil fuels

Why do we policies in place to correct for externalities that result from the use of fossil fuels but not for externalities that result from the color yellow or country music (or pick something you dislike that isn't taxed)?

  Determining the investment opportunity

Fred has a utility function U=10P^.5 and also has an investment opportunity that will pay 25 with probability .4 and 100 with probability .6. what is the certainty equivalent of this opportunity?

  Concerned about high rates of unemployment

The government is concerned about high rates of unemployment. To spark hiring, it provides tax incentives for the businesses to invest in new capital projects and stimulate job growth. If the sole concern is adding jobs, use the Hicks-Marshall rules ..

  Describe difference between nominal-effective-real interest

Describe the difference between nominal, effective and real interest and calculate what is owed after 5 years for the following example. 10% interest on $100 over the course of 5 years. Where relevant, the compounding period is 1 year. Inflation is 5..

  The market under cournot competition increases

If the number of firms in the market under Cournot competition increases:

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