The total explicit cost is $793‚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
Premium Profit Hotel Marketing
integration‚ mobile application development‚ and database design‚ development and administration. Each one of these solutions is designed to align with their respective clientele’s business goals and objectives in an effort to address the most complex technological challenges that the company may face. The next thing I noticed about the company was how diverse their client base was. They ranged from government agencies such as the Pennsylvania Department of Transportation‚ to commercial clients like
Premium Technology Employment Intern
..........................4 (CAPITILISM ECONOMIC SYSTEM) CHAPTER 3 ...........................................................................11 (SOCIALISM ECONOMIC SYSTEM) CHAPTER 4 ..........................................................................14 (MIXED ECONOMIC SYSTEM) CHAPTER 5 ………..……………………………………………………………….16 (ISLAMIC ECONOMIC SYSTEM) CHAPTER 6 ………..……………………………………………………………….24 (COMPARISON BETWEEN THE ISLAMIC ECONOMIC AND OTHER ECONOMIC SYSTEM) 1. DIIFFERENCE BETWEEN ISLAM
Free Capitalism
Agricultural Economics of Nigeria: Paradoxes and Crossroads of Multimodal Nature Professor Eric C. Eboh Professor of Agricultural Economics University of Nigeria CONTENTS 1.0 ACKNOWLEDGEMENT 2 2.0 CONCEPTUAL APPROACH OF THIS INAUGURAL LECTURE 6 REFLECTIONS ON THE STRATEGIC ROLE OF AGRICULTURAL ECONOMY 8 3.0 4.0 5.0 AGRICULTURE FROM THE LOOKING GLASS OF MAN’S ECONOMIC HISTORY 16 AGRICULTURAL ECONOMY FROM PARADIGMATIC VIEWPOINTS ABOUT THE STATE VIS-A-VIS MARKET 21 6.0 NIGERIAN AGRICULTURE
Premium Economics Agriculture Economy
AND ITS EFFECTS TO THE ECONOMIC GROWTH IN THE PHILIPPINES A Term Paper Presented to Ms. Jenifer F. Nara Faculty‚ English Department Xavier University – Ateneo de Cagayan In Partial Fulfillment of the Requirements for the Course English 27 (Writing Term Paper in the Discipline and Business Correspondence) Presented by Reyjen Kate J. Enoy Regine May U. Tadlas Section BE October 2‚ 2014 Rice Smuggling and Its Effects to the Economic Growth in the Philippines Thesis
Premium Cagayan de Oro City Philippines Rice
In a capitalist economy‚ all the central problems are solved with the help of price mechanism. In such an economy‚ no individual or a firm deliberately tries to solve the central problems; all economic activities operate automatically and there is no conflict anywhere. The basic reason for all this is that price mechanism brings about co-ordination in various sectors of economy and in various economic activities. The important characteristic of such a system is that it is automatic and there
Premium Supply and demand
benefited more or less from economic growth than the rich? I would have to say more than less. I say more‚ because if you look back in history a century ago‚ it is all about time. According to the chart in Chapter 27‚ on page 600‚ in figure 27-2‚ it took a worker over an hour and some minutes (about 1 hour and 20 minutes) to earn enough to buy one dozen of eggs. But in 2012 it took only minutes (about 10-15 minutes) to earn enough to buy the same dozen of eggs. The growth has made the average
Premium Poverty Economics Middle class
CHILDREN EXPLOITATION‚ THE IMPACT The world now at stake. A child now who should be in school‚ playing football with their friend is being used by irresponsible person for their own benefit. The status quo now clearly show that not every child in the world is raised in normal ways when every government try the best to implement the Act 661.Some part of the world plays a certain role in the black market such as providing child for child slaved and child prostitute because of their national laws include
Premium Human trafficking Convention on the Rights of the Child Prostitution
The ultimate engine of economic growth is new technology. According to economists‚ the growth of output per capita is a fairly recent phenomenon. This can be attributed to all the new technology people have discovered in the past few centuries‚ causing output growth to surge and accelerate faster than ever before in history. The result of all these ingenious‚ innovative inventions has been a total revolution in the way people live their lives. After examining the multitude of invention descriptions
Premium Johannes Gutenberg Printing press Innovation
considerable growth thereafter. This can be seen as the result of the cotton trade in the South and the eventual industrialisation of America‚ especially in the Northeast and later the West. From the invention of cotton gins to the adaptation of railways one can see how the United States used their opportunities and resources to their full advantage‚ transforming their economy to be able to compete among the worlds leading economical countries. ’The year 1793 was a doubly significant one in American
Premium United States Cotton American Civil War