000($970‚000-$177‚000). The total implicit cost is $190‚000($175‚000+.15X$100‚000). The total economic costs is $983‚000($793‚000+$190‚000). b. The accounting profit in 2010 is $177‚000($970‚000-$793‚000) c. The economic profit in 2010 is $-13‚000($970‚000-$793‚000-$190‚000). d. The owner should not leave his job because the economic profit is negative‚ which means he will earn less if he does his own business. 2. a. The type of agency problem that is involved here is principal-agent problem. Marriott
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More than 100‚000 people a year are being killed because they are overmedicated by doctors and other health care providers within the medical field. Drugs prescribed by those in medical practices can be helpful but can also be dangerous even lethal if used incorrectly. This not only applies to abusing drugs by not using them as prescribed‚ but also includes taking an incorrect dosage given by a doctor. Modern America obviously appreciates the benefits of prescription drugs‚ but many people may be
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For profit vs. not for profit organizations Melinda Colp AIU Online Healthcare Administration HCM630-1203D-01 Professor Michael Schmitt September 16‚ 2012 Non-Profit healthcare organization vs. for-profit healthcare organization “Hospitals can be non-profit‚ for-profit‚ and government-owned and/or operated” (Baker & Baker‚ 2006). There are different terms for each classification in how to report and handle the finances but the basics are the same for any type of business. Business
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1 Elasticity of Demand The demand of any product depends on the pricing strategy being followed by the company as well as other factors like nature of product i.e. necessity or luxury‚ availability of substitutes‚ switching cost etc. If the product is a necessity usually it has an inelastic demand. Inelastic demand refers to the situation where one unit increase or decrease in the product’s price cause less than one dollar change in the units demanded of that product (Kreps‚ D. M. 1990). If product
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Profit and loss accounts‚ balance sheets Profit and loss accounts‚ balance sheets Two of the most important financial statements for a business are the Profit and Loss Account‚ and the Balance Sheet. The Profit and Loss Account shows the profit or loss of a business over a given period of time e.g. 3 months‚ 1 year‚ etc. In contrast‚ the Balance Sheet is like a photograph taken at an instant in time giving a picture of what the business owns and what the business owes at that moment in time
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Profit vs. Not-for-Profit Organization A nonprofit organization is formed for the common good of the public. Nonprofit organizations are usually formed for some specific religious‚ charitable or educational purpose. A for-profit organization may be formed to conduct any number of lawful business activities. The primary reason to form a for-profit organization is to earn a profit for the owners of the company. Use of Profits Since a not-for-profit organization is formed to accomplish a specific
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Please discuss both your short– and long–term career goals‚ including your vision of your post–graduation employment‚ and describe how the Texas MSF will help you meet those goals. My career goals have been shaped by my childhood passion for problem solving and mathematics‚ combined with hard work and determination. As I grew older I found both of these being expressed more and more through investing and the financial markets. This was my first inclination of where my long-term career goals would be
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Short-Term Financing There are numerous diverse sources offered for short term financing which is significant for companies to go on with the corporation’s day-to-day procedures. The important sources for short-term financing are overdrafts‚ trade credit‚ and short-term loans. These sources can be used for many reasons. Installment loan is the most confusing financing loan which requires equal payments of the loan life (Block‚ Hirt‚ & Danielsen‚ 2009). A mortgage is an example of installment
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Long Term Lessons Crack! "Owww!"‚ I screamed. My mom‚ no stranger to my clumsy habits‚ started frantically asking questions. "Are you okay? What happened?". Then‚ she started worrying‚ I had broken my right elbow in the past and it took a toll on my parents‚ so they did not want to go through the same experience again. Fracturing my arm taught me to be more cautious with injury precaution and to be thankful for my healthy body. It was just a regular night‚ my dad was working‚ my mom was cooking dinner
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community be well-informed regarding development economically for possibility of long-term care and that the legislative policy creators offer motivation for this type of preparation. The private sector tax offer alternatives such as 401(k)’s and IRA’s are an sign of motivation to bank funds aside when able to‚ but other alternatives have to be developed if a person wants to be ready for the future demands on long-term care. This incredible boost will have needed to combine both public and private
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