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saw5 [17]
4 years ago
5

Jane grows apples on land she inherited from her grandmother. She incurs explicit costs of $200 for the trees and $60 for fertil

izers. In​ addition, suppose her land is otherwise worth $9,000 and her labor is worth
​$20,000 ​(this is the amount she could earn managing someone​else's land instead of her​ own). The market price of apples is $36 per box. If at this price Jane produces 1,500 boxes of apple then her economic profit is
Business
1 answer:
Leto [7]4 years ago
4 0

Answer:

Economic profit= $24,740

Explanation:

Giving the following information:

Jane grows apples on land she inherited from her grandmother. She incurs explicit costs of $200 for the trees and $60 for fertilizers.  The market price of apples is $36 per box. At this price, Jane produces 1,500 boxes of apple.

Suppose her land is worth $9,000 and her labor is worth

​$20,000.

Sales= 54,000

Fixed costs= 260

Opportunity cost= 29,000

Economic profit= $24,740

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Answer: b. mind games and your money

Explanation:

This falls under Mental accounting where our minds play games with our money by dividing them into various accounts and uses based on our emotions.

Sunk costs play a big part in this because we get so attached to the accounts we have put a lot of effort in while neglecting those we have not or do not want to think about. Maria here is proud of her savings account so much so that she does not see the detrimental effect of not paying off the credit card debt which is rising rapidly.

Her savings account is now a sunk cost and she doesn't realize. This principle can help advise her so she understands the games her mind is playing on her and fix it before the damage gets worse.

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3 years ago
Critical Thinking: You are at a party, and the friend you came with has had several drinks. He appears to be sober and shows no
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Answer:

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7 0
3 years ago
Tom is talking to his friend Bob, who has an interest in Freedom, LLC, about purchasing his LLC interest. Bob's outside basis in
sleet_krkn [62]

Answer:

Option B is correct.

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Explanation:

Option B is correct.

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Tom's outside basis be in Freedom,LLC= Amount Paid by Tom for buying Bob's LLC interest + Tom's Share of LLC debt

Tom's outside basis be in Freedom,LLC= $23,000+$3,100

Tom's outside basis be in Freedom,LLC=$26,100

8 0
4 years ago
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The firms employing such structure believes that employees are the most important resource and without their satisfaction operational effectiveness and stability cannot be achieved.

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3 years ago
The adjusting entry to record the estimated bad debts in the period credit sales occur would normally include a debit to: A. Bad
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Answer:

Debit to Bad Debt Expense and Credit to Allowance for Doubtful Accounts.

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