accounting profits and economic profits for Gomez’s pottery. Explicit costs: $37‚000 (= $12‚000 for the helper + $5‚000 of rent + $20‚000 of materials). Implicit costs: $22‚000 (= $4‚000 of forgone interest + $15‚000 of forgone salary + $3‚000 of entreprenuership). Accounting profit = $35‚000 (= $72‚000 of revenue - $37‚000 of explicit costs); Economic profit = $13‚000 (= $72‚000 - $37‚000 of explicit costs - $22‚000 of implicit costs). 8-4 (Key Question) Complete the following table by calculating
Premium Economics of production Variable cost Costs
Business (UKM-GSB-LHDN) Cost Classification: Government Agency PROBLEM 2-56 The Department of Natural Resources is responsible for maintaining the state’s parks and forest lands‚ stocking the lakes and rivers with fish‚ and generally overseeing the protection of the environment. Several cost incurred by the agency are listed below. For each cost‚ indicate which of the following classifications best describe the cost. More than one classification may apply to the same cost item. The Answers
Premium Costs Variable cost Marginal cost
Championship women’s bantamweight titleholder embodies a love-me-or-hate-me shoulder shrug‚ her overwhelming sense of purpose‚ reactions she readily expects‚ embraces and dismisses. This contrast is on full display in “My Fight/Your Fight‚” a personal look at the professional highs and lows of the MMA star. With co-writer Burns Ortiz‚ who also happens to be the champion’s sister‚ Rousey details the good‚ the bad and the ugly. The ability to cut through the noise that allows Rousey to open the old closet
Premium
Experimental Investigation In Developing Low Cost Concrete From Paper Industry Waste Posted in Project Reports‚ Research Papers | Email This Post ABSTRACT Over 300 million tones of industrial wastes are being produced per annum by chemical and agricultural process in India. These materials pose problems of disposal and health hazards. The wastes like phosphogypsum‚ fluorogypsum and red mud contain obnoxious impurities which adversely affect the strength and other properties of building materials
Premium Concrete
The Fight for Hopping "It all started in Austria of 1940‚ my Jewish parents‚ the boat‚ then I was in America. That boat was my career’s takeoff" I said. "Hey‚ are you an interior designer‚ because when I saw you the whole room became beautiful" Louis Meyer‚ movie mogul said. "No thanks‚ I’m going to an audition for a woman with abundant amounts of rage. Thanks for helping me get into character" I angrily stated to him. "Who do you even think you are Mr. Whatever your name is?" "I am Meyer‚ Louis
Premium World War II English-language films United States
A Fight For Survival “Happy Hunger Games! And may the odds be ever in your favor!” announced Effie Trinket‚ the escort of the District 12 tributes. She tried to encourage the tributes to be happy about being chosen; that it is somewhat of an honor to be selected to participate in the Hunger Games‚ yet was unsuccessful. The Hunger Games is the first book in an amazing trilogy written by Suzanne Collins‚ that follows the story of Katniss Everdeen and how she survives The Hunger Games. The Hunger
Premium The Hunger Games Hunger David Bowie
successful cost reduction programmes In the current economic climate‚ most organisations must face up to a prolonged period of extreme competition and funding restrictions. This is particularly the case if the past few years have been focused on growth‚ service improvement or reorganisation (i.e. cost efficiency has not been a recent priority). Such pressures require an approach that reduces costs in a strategic‚ disciplined‚ and sustainable manner - delivered at pace. In our view serious cost reduction
Premium Management Organization Strategic management
Chapter Six Businesses and Their Costs Study Questions: 1. Explain the difference between a plant‚ a firm‚ and an industry. Plant – establishments such as a factory‚ farm‚ mine or store. Firm – an organization that employs resources to produce goods/services for profit. Industry – group of firms that produce the same or similar products. 2. State the advantages and disadvantages of the corporate form of business. Advantages – most effective form of
Premium Economics Costs Perfect competition
Students that originate from low-income or working class families face many challenges within the pursuit of an advanced education. Most research demonstrates that the rising cost of education negatively impacts low-income students and creates an added barrier to their success‚ graduation rates and social economic status after graduation. The is the rising cost of Higher education’s impact on students from students from lower income and working class families. Students receiving their high school
Premium University Higher education College
explored in juxtaposition with Gilbert ’s idea of a self replicator. Ultimately to start with ‚ When society has the subject of free to cost lessened education ‚ initially we would hope that our quality of education stay intact. Quality of education is still important to the overall goal of cultivating the minds of the future. An argument against free or cost lessened education would be that like the universal healthcare that has been enacted in the U.S system‚ if education were to take the same
Premium Higher education Garrett Hardin Education