1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
garik1379 [7]
3 years ago
15

A firm had sales revenue of $1 million last year. It spent $600,000 on labor, $150,000 on capital and $200,000 on materials. The

firm's factory sits on land owned by the firm that could be rented out for $30,000 per year. What was the firm's economic profit last year?
Business
1 answer:
faltersainse [42]3 years ago
4 0

Answer:

$80,000

Explanation:

Given that the sales revenue = $1000000

Labor= $600,000

Capital= $150,000

Materials =$200,000

Total expenditure= $(600,000+150,000+200,000)=$950,000

Profit=$1000,000-$950,000=$50,000

Income from renting the space for a year=$30,000

Total economic profit last year= $50,000+$30,000 =$80,000

You might be interested in
One primary difference between services and the production of goods is that services are consumed _____ whereas goods can be ___
Zigmanuir [339]

Answer:

B. Immediately; stored

Explanation:

One primary difference between services and the production of goods is that services are consumed <u>immediately</u> whereas goods can be <u>stored</u>.

There are several differences in production and consumption of goods and services:

  • Goods are Tangible as it can be touched, however, services are intangible as it cannot touched but it can realized.
  • Goods can be stored for later use, however, services cannot be stored but need to be consumed immediately on real time.
  • Goods can be weighed and measured on scale, however, services can  evaluated on basis of satisfaction level.

8 0
2 years ago
Todd can afford to pay $390 per month for the next 7 years in order to purchase a new car. The interest rate is 6.8 percent comp
zvonat [6]

Answer:

$26,036.74

Explanation:

Tom is able to pay $390 per month for 7 years. The interest rate is 6.8 %. Tom will pay an equivalent of the present value of a $390 annuity for & years 6.8 per cent

The applicable formula is

PV = P ×  1 − (1+r)−n

                      r

Where PV is the present value

P is 390

r is 6.8% per year or 0.005666

n is 7 year or 84 months

PV = $390 x 1-(1+0.005666)84

   0.00566

PV = $390  x 1- 0. 622133410)

   0.00566

PV =390  x  (0.37786659/0.00566)

PV = $390 x 66.760

PV = $26,036.74

4 0
3 years ago
Hey guys, what is the best vacation you ever had? Tell me all about it, mine was when i went to myrtle beach south carolina with
alekssr [168]

Answer:

Hey my best vacation was to India when I had visited a lot of places and temples.....I had also a great time with my family....I had eaten fresh mangoes that grew in my farm....I miss those days

5 0
3 years ago
The weather station model performs the invaluable function of ____________.
Greeley [361]

Answer:

Option B                                    

Explanation:

In simple words, Models of weather stations are visual representations displaying the weather taking place at a specified monitoring station. The stations design was developed by meteorologists that incorporate a variety of climate components into some kind of small area on satellite images.This model has been of high use to prepare for the natural calamtites in advance but it does not influence the project in any way.

4 0
3 years ago
Computer technology corporation dell recently acquired quest software, an it management software provider, in order to expand up
aleksandr82 [10.1K]
A growth strategy 
hope this helps 
6 0
3 years ago
Other questions:
  • Warm Hearths, a home fashion magazine, is designed to appeal to people who want to know the latest trends in interior design. It
    6·1 answer
  • When pay is made public, people evaluate how equitable their pay is in light of the pay other people are receiving. The problem
    15·1 answer
  • In which of the following games is it clearly the case that the cooperative outcome of the game is good for the two players and
    8·1 answer
  • If an investment of $40,000 is earning an interest rate of 12.00%, compounded annually, then it will take 4.50 years for this in
    6·1 answer
  • While visiting a coffee shop, you see a poster advertising a concert for a music group you'd love to see. You notice there's an
    12·1 answer
  • Mario is an avid collector of Major League Baseball memorabilia. He greatly desires to own the "special" bat that earned the slu
    7·1 answer
  • Define artificial intelligence​
    13·1 answer
  • Dixie Chicken is about to close one of its fast food franchises. As part of the closing, the firm will sell a refrigeration unit
    9·1 answer
  • One key difference between an oligopoly market and a competitive market is that oligopolistic firms.
    8·1 answer
  • Luxury motors introduced a new car to its already popular sedan line. The new car sold very well in its first year, so the compa
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!