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hammer [34]
3 years ago
7

The difference between a​ business's revenues and its expenses is known as its​ _______.

Business
1 answer:
Dominik [7]3 years ago
6 0
The difference between a business revenues ans its expenses is known as its profits
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Suppose a firm has an annual budget of $200,000 in wages and salaries, $75,000 in materials, $30,000 in new equipment, $20,000 i
Molodets [167]

Answer:

The firm will need additional revenue of $90,000 to earn normal profit(zero economic profit)

Explanation:

Normal profit equals zero economic profit or when total revenue equals

the addition of explicit cost and Implicit cost. Implicit cost is the opportunity cost.

Explicit cost = $200,000 + $75,000 + $30,000 + $20,000 + $35,000

=$360,000

Implicit cost is $90,000

Total revenue is $360,000

Normal profit = $360,000 - ($360,000 + $90,000)

$360,000 - $450,000

-$90,000.

This means the firm will need additional revenue of $90,000 to earn normal profit(zero economic profit)

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3 years ago
A restaurant review published in the local newspaper is an example of ________.
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3 years ago
When U.S. goods become more expensive relative to foreign goods, exports will __________ and imports will __________.
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Answer:

fall, rise

Explanation:

US goods will become less expensive

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When an individual weighs her options and makes a choice that maximizes her benefit at the minimum cost, economists refer to thi
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Perhaps the best method for estimating the market value of shareholders' equity is to: _____________
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C.multiply number of shares outstanding by the price of each share

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