Explicit costs, Microeconomics

Assignment Help:
Joe is the owner-operator of Joe’s Haircuts Unlimited. Last year he earned $100,000
in total revenues and paid $65,000 to his employees and suppliers. During the
course of the year he received three offers to work for other barbers, with the highest
offer being $40,000 per year. What are Joe’s implicit costs?

Related Discussions:- Explicit costs

Modern economy, Modern economy: It explored the role of money in every...

Modern economy: It explored the role of money in every modern economy.The chapter also revealed that it is necessary for the government to ensure consistency between the quant

Demand and supply, the demand and supply functions for goods are given by d...

the demand and supply functions for goods are given by demand:Pd=50-3Qds and supply:Ps=14=1.5Qs. where p is the price of a pair of jeans, Q is the number of pairs of jeans a) calc

Price responsiveness of supply, On Valentine's Day, the price of roses incr...

On Valentine's Day, the price of roses increases by more than the price of greeting cards.  Why? (Hint: Consider what makes roses and cards different and how that difference might

Oligopoly, reason for kinked demand curve

reason for kinked demand curve

Consumer surplus, Two consumers John and grayson like to transfer songs to ...

Two consumers John and grayson like to transfer songs to their phones from jose phone the table represents their willingness to pay and jose willingness to accept for each download

Substantial practical value, The cross elasticity of demand calculates the ...

The cross elasticity of demand calculates the responsiveness of the quantity demanded of one product to alters in the price of another product.  For example, the quantity demanded

State-owned enterprises should be encouraged or discouraged, Question 1: ...

Question 1: a. What is the supposed rationale for subsidising higher education in various developing countries? b. Do you think there is a legitimate rationale to the abov

What is use of analytical tools in the modern economics, What is use of ana...

What is use of analytical tools in the modern economics? Analytical Tools: Modern economics also gives different powerful analytical tools which are usually specified by geo

Write Your Message!

Captcha
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