Who is earning the higher accounting profit

Assignment Help Business Management
Reference no: EM131958577

Suppose Bill and Ted operate separate convenience stores in the same perfectly competitive market. Their stores are identical in every way except Bill has a much better location. In particular, assume that they have identical explicit cost. If the market is in long-run equilibrium, do Bill and Ted have the same implicit cost? Who is earning the higher accounting profit and how do you know?

Reference no: EM131958577

Questions Cloud

Activities of the rising capitalist class : The success of Adam Smith is explained by the fact that his theories rationalized the activities of the rising capitalist class. Explain.
Principles of effective treatment of substance-abusing : One of the principles of effective treatment of substance-abusing offenders is: "Develop commitment from jail administrators to support the substance.
What theme or issue is raised by the passage : What theme or issue is raised by the passage? What you think the text is saying about this issue and why does this matter?
Market system as allocators of scarce resources : Explain the difference between the use of tradition, authority, and a market system as allocators of scarce resources.
Who is earning the higher accounting profit : If the market is in long-run equilibrium, do Bill and Ted have the same implicit cost? Who is earning the higher accounting profit and how do you know?
Identify a potential professional niche for yourself : Identify a potential professional niche for yourself within this network of services. Review information available in O*Net, the Dictionary of Occupational.
What are some of the complex issues related to gender : Choose two characteristics covered in the section you reviewed that concern you the most in terms of the potential for inequitable treatment of young children.
Represents the role of strategic advisor : Which of the following represents the role of a strategic advisor ?
How does the movie determine perception vs reality : How does the movie determine perception vs. reality? How do you know how to react to the people, events, or things that cross your path?

Reviews

Write a Review

Business Management Questions & Answers

  Assignment-quality improvement in a medical setting

Improvement in quality and safety should be considered a core organizational strategy. Leading that change is not always easy.

  Professional staff throughout the state

The company, however, has set the same prices for pharmaceuticals and services in all of its hospitals. It has also paid the same salaries for doctors, nurses, and other professional staff throughout the state.

  What is the value of the multiplier

If the marginal propensity to consume is 0.65, (a) What is the value of the multiplier?

  Understanding the voice of the customer

In the "Understanding the Voice of the Customer at LaRosa's Pizzerias" case study found in your textbook, LaRosa's Pizzerias implemented

  Rational and emotional aspects of leadership

Explain and illustrate the rational and emotional aspects of leadership. Compare and contrast leadership and management.

  Describe the change that occurred in workplace

1. Describe the change that occurred in your workplace. Was the change successful? Was there a lot of employee resistance to this change?

  Favorable tax treatment of business investment

If there subsequently were an increase in the demand for loanable funds due to more favorable tax treatment of business investment

  Describe cybercrimes for it professionals

Describe Cybercrimes for IT Professionals- You are a legal expert who has been enquired by a corporation to speak on the advantages of the cyber-court network, cyber-management and cyber-discovery techniques

  Social media and corporate disclosure

Social Media and Corporate Disclosure: Evidence from Omani Banking and Financial Industry

  External events for a business

External events for a business - What do you think are some of the most influential and current external elements that are impacting it?

  Analyze the ideas presented in the two videos

Analyze the ideas presented in the two videos. What are the two most valuable "take-aways" from each? Describe what you can do to ensure that people listen to your ideas, opinions, and directions? Is leveraging your connections on social networks for..

  Reduce the negative effects of culture shock

What can you do to reduce the negative effects of culture shock? Explain the different techniques used to cope with culture shock. Provide an example of how you have had to cope with culture shock.

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