Answer:
a. −$80.
Explanation:
Ziva's economic profit =Revenue- (explicit costs + implicit costs)
Revenue= $300
Explicit costs=$130
Implicit cost=$25*10 =$250
Ziva's Economic Profit= $300-($130+$250)
=$300-$380
Ziva's Economic Profit=-$80.
Explicit cost is the same as accounting costs. This include cost of seeds(i.e $130), wages paid to workers, rent paid for farm land, etc.
Implicits costs on the other hand is called opportunity cost or alternative forgone.
The $25 per hour forgone by working on the farm land is implicit cost.
Answer:
Lily and Daisy
Explanation:
Joint product Flowers per harvest Proportion Joint cost allocation
Tulip 10 20% (10/50) $6 ($30*20%)
Lily 20 40% (20/50) $12 ($30*40%)
Daisy 20 40% (20/50) $12 ($30*40%)
Totals 50 100% $30
As per above results, both Lily and Daisy received the largest proportion of joint cost.
Answer: 71%
Explanation:
The Budgeted material loading charge was 84% of material cost of $1,268,000.
Yet the actual loading cost was $164,840 which means that actual loading cost percentage is:
= 164,840 / 1,268,000 * 100%
= 13%
Profit margin = Budgeted percentage - Actual percentage
= 84% - 13%
= 71%
Answer:
Rises
Rises
Explanation:
If the demand for a good rises more than the fall in supply, both equilibrium price and quantity would increase.
Refer to the attached image for a graphical explanation.
I hope my answer helps you
It resulted in faster and cheaper long distance shipping and this was the way the railroad technology helped to improve profits for companies. The correct option among all the options that are given in the question is the first option or option "a". I hope it helped you.