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
Mrac [35]
2 years ago
13

Bobby decides to sell lemonade on a hot summer day. If Bobby sells 20 glasses of lemonade for $0.20 per cup, and his average tot

al cost is $0.17, what are Bobby's economic profits for the day? $0.20 $0.00 $0.60 $0.80
Business
1 answer:
MAXImum [283]2 years ago
4 0

Answer:

c. $0.6

Explanation:

The economic profit is the difference between total income and total cost. The total cost is the multiplication of the average cost by the number of sold glasses.

Total income = 20 * 0,2 = 4

Average cost = 0,17

Total cost = 0,17 * 20 = 3,4

Economic profit = Total income - total cost = 4 - 3,4 = 0,6

You might be interested in
the creation of a home market is not only necessary to procure for our agriculture a just reward of its labors, but it is indisp
Ahat [919]

The United States should increase the domestic manufacturing to promote prosperity.

<h3>What is manufacturing?</h3>

Manufacturing is the creation or manufacturing of items with the aid of resources such as machinery, labor, tools, and chemical or biological processing or formulation. It is the very foundation of the economy's secondary sector. The phrase can be used to characterize a range of human undertakings, from handicraft to high-tech, but it is most usually used in relation to industrial design, which entails the extensive transition of raw materials from the primary industry into finished goods. Such products may be delivered via the tertiary industry to end users and consumers, sold to other manufacturers for the creation of other, more sophisticated products (such as aircraft, home appliances, furniture, and sports equipment), or both (usually through wholesalers, who in turn sell to retailers, who then sell them to individual customers).

To learn more about manufacturing, visit:

brainly.com/question/17052484

#SPJ4

7 0
9 months ago
Rutgers Racquet Club adjusts its accounts monthly. Club members pay their annual dues in advance by January 15. The entire amoun
SOVA2 [1]

Answer:

1. Salaries earned by club employees that have not yet been recorded or paid amount to $3,700.

Dr wages expense 3,700

    Cr wages payable 3,700

2. A local VFW sponsored a tournament at Rutgers Racquet Club that took place on December 22, 20x5 of the current year. At December 31, the $1,200 owed by the VFW for court rentals on December 22 had not yet been recorded or billed.

Dr accounts receivable 1,200

    Cr rental fees 1,200

3. A one-year fire and flood insurance policy had been purchased on May 31. The entire premium of $7,200 was initially recorded as Prepaid Insurance.

Dr insurance expense 4,200

    Cr prepaid insurance 4,200

4. Rutgers Racquet Club was built in 20x1. The cost of the building and equipment was $320,000. Depreciation of the club's building and equipment is based on an estimated life of 20 years and a salvage value of $80,000. The straight-line method of depreciation is used.

Dr depreciation expense 12,000

    Cr accumulated depreciation, building 12,000

5. A 36-month bank loan in the amount of $108,000 had been obtained by Rutgers Racquet Club on December 1, 20x5. Interest is computed at an annual rate of 9%. The entire $108,000, plus all of the interest accrued over the 36-month life of the loan, is due in full on December 1, 20x8.

Dr interest expense 810

    Cr interest payable 810

6. Membership dues earned in December, 20x5 for collections received at January 15, 20x5 amounts to $52,000.

Dr unearned membership dues 52,000

    Cr membership dues earned 52,000

7. Unrecorded Income Taxes Expense accrued in December amounts to $16,000. This amount will not be paid until January 15, 20x6.

Dr income tax expense 16,000

    Cr income tax payable 16,000

4 0
3 years ago
How many hotels are in the APAC region
dem82 [27]
According to an article that I found online which was written in December 2015, and according to the statistics that STR Global (which is the best at providing information about the global hotel industry), there are about 2,435 hotels with 562,781 rooms in the Asia-Pacific region.
Now, there are probably even more because many new hotels were being built at the time.
4 0
3 years ago
Consider the following information: Portfolio Expected Return Beta Risk-free 5 % 0 Market 11.2 1.0 A 9.2 1.9 a. Calculate the re
tatiyna

Answer:

The calculations are shown below:

Explanation:

The calculations are shown below:

a. The expected rate of return is  

Return = Risk free return + Beta × (Market return - risk free return)

= 5% + 1.9 ×  (11.20% - 5%)

= 5% + 11.78%

= 16.78%

b. Now the alpha is

Alpha = Actual rate of return - Expected rate of return

         = 9.2% - 16.78%

         = - 7.58%

c. No , the CAPM is not valid as the expected rate of return is more than the actual rate of return

6 0
3 years ago
What happens to the equilibrium price and quantity of sugar when consumers learn that sugar
liubo4ka [24]

When the equilibrium price of sugar increases, the equilibrium quantity will decrease. This is because price and quantity have an inverse relationship.

A market-clearing price often referred to as an equilibrium price, is the consumer cost associated with a good or service when supply and demand are equal or nearly equal. The manufacturer or vendor is free to transfer as many units as they like, and the consumer is free to access as many units as they like.

It is possible to utilize a mathematical formula to determine the equilibrium price. The equilibrium pricing formula is based on amounts of supply and demand; to find the price, put the quantity demanded (Qd) equal to the quantity supplied (Qs) (P). Here is an illustration of the equation: Qs = -125 + 20P when Qd = 100 - 5P.

Learn more about equilibrium price here:

brainly.com/question/14480835

#SPJ9

6 0
1 year ago
Other questions:
  • You have a ticket to go to a concert by one of your favorite​ groups, the​ Hives, which you cannot resell. ​ However, you can bu
    12·1 answer
  • Of the four steps in the army pr system, which step encompasses the activities of developing guidance for, providing appropriate
    8·1 answer
  • The company is gearing up for next year’s events and determining where to hold them. Customer feedback, logistics, and pricing o
    8·1 answer
  • 1. A country’s national saving is 20% of its national income and it needs $4 worth of capital for producing $1 worth of goods an
    8·1 answer
  • Before Sandra opened her florist shop she read all she could about the floral industry. She also consulted several published res
    13·1 answer
  • Barney decides to quit his job as a corporate accountant, which pays $10,000 a month, and goes into business for himself as a ce
    10·1 answer
  • A(n) _____ is a strategy that guarantees a solution to a problem. subgoal
    12·1 answer
  • While setting the price of a product, what must managers consider? A cost of the whole marketing mix B) buying capacity of the c
    5·1 answer
  • There are four consumers willing to pay the following amounts for haircuts, and there are four haircutting businesses with the f
    11·1 answer
  • What is one consequence of stagflation?
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!