Answer: Option D
Explanation: Accounting profit is always equals to or greater than the economic profit of an entity. This is due to the fact that, while computing accounting profit the accountant do no take implicit cost into consideration.
Whereas, economic profit is the amount of profit remaining after deducting both explicit and implicit cost.
Implicit cost refers to the cost of loosing profits by choosing one alternative over other.
Cultural blocks are a hard aspect to protect against, when they occur, but can be avoided. Simply, like all other block, ask a series of questions to aid in the simple understanding of how other people will see the design, or whatever. Never think that what you think is always the only necessary vetting device.
Have an awesome day and plz mark brainliest!
Answer: $528 favorable
Explanation:
The Spending variance for supplies shoes the difference between what the company thought it would spend on supplies and what it actually spends.
Spending variance on supplies = Actual costs - Budgeted costs
Budgeted cost:
= 968 + 8 * 470 frames
= 968 + 3,760
= $4,728
Spending variance on supplies:
= 4,200 - 4,728
= $528 favorable
<em>Variance is favorable when the Budgeted costs are higher than actual costs. </em>
Answer:
<em>When firms exit a market, the short-run market supply curve shifts left, causing individual firms’ profits to increase.</em>
Explanation:
The process of <em>free entry and exit of firms</em> is in a sequence as explained under-
- If there is higher demand in the market of the product as compared to its supply, then each firm in the market will receive higher price for its product.
- This will increase the prices of the product, enabling higher profits for each firm. This will make the industry attractive, enabling the introduction of newer firms in the market.
- When the new firms enter the industry, the prices of the product in the market will drop due to higher competition, now present currently. This will lead to lowering of profits for the firms in the industry.
- This will make the industry non-attractive and thereby the less competitive and less effective firms will exit the market in the short run.
- This exit of firms from the industry, will lead to higher prices again due to less supply of product in the market as compared to its demand. Hence, the profits of the firms present in the industry will increase.
Thus, it can be concluded that <em>when firms exit a market, the short-run market supply curve shifts left, causing individual firms’ profits to increase.</em>
Answer:
720
Explanation:
Given:
The management consulting team should comprise an accountant, a production specialist, a finance specialist, and a management specialist. On its staff, the consulting firm has available six accountants, five production specialists, three finance specialists, and eight management specialists
To find:
Number of different teams that could be formed from the available individuals
Solution:
Use combination to find number of ways to select y objects from x objects when the order in the selection process doesn't matter.
Number of ways to select an accountant, a production specialist, a finance specialist, and a management specialist from six accountants, five production specialists, three finance specialists, and eight management specialists =