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
Bess [88]
3 years ago
14

You have two options for how to spend the afternoon. you can either go see a movie with your roommate or work as a tutor for the

math department. from experience, you know that going to see a movie gives you $20 worth of enjoyment, and with your student discount, a movie ticket only costs $12. if you spend the afternoon working as a math tutor, you will get paid $45. on a typical day, you wouldn't be willing to spend the afternoon working as a math tutor for less than $35. what is your economic surplus from working as a math tutor instead of going to the movies?
Business
1 answer:
erma4kov [3.2K]3 years ago
5 0

Answer: Economic Surplus : $12

Explanation: Economic surplus is the difference between benefit and cost.

In this case, since he is working as a math tutor, he will get $45, there is no other cost. But if he goes for a movie, he will have to spend $12 on movie, which is the cost he needs to bear. The economic surplus is $12 which is not spent on the movie and worked as a math tutor.

You might be interested in
Proponents of rational expectations argued that the sacrifice ratio:______.a. could be high because people might adjust their ex
Arte-miy333 [17]

Answer:

b. could be low because people might adjust their expectations quickly if they found anti-inflation policy credible

Explanation:

In the given situation, it is mentioned that the rational expectations proponets said that the sacrified ratio would be lesser as the people wants to adjust their expectations in a fastest way in the case when they found that the anti-inflation policy is credible

Therefore as per the given situation, the option b is correct

3 0
3 years ago
A(n) _____ is an outside firm that specializes in the creation, production, and/or placement of the communications message and t
krek1111 [17]

Answer:

An advertising agency

Explanation:

An advertising agency is an agency that dedicates it's business to creating , planing , and managing all aspects of a client's advertising. It also specializes in promotions and marketing for its client.

Advertising can be carried out via websites, online and social campaigns, brochures, catalogs, direct mail, print ads, radio and TV commercials, and sales letters.

An advantage of an Advertisement agency is that it helps provide a creative environment that combines interesting activities with work, and great exposure too

6 0
3 years ago
If you start investing a little money now you will most likely have a lot more mone than those who start investing later on in l
Afina-wow [57]

True, usually the earlier you invest the more money you will get later down the road.  

7 0
3 years ago
Read 2 more answers
The current net profit of sigma inc. is $8 million, the market price of the stock is $65, and sales is $50 million. the net prof
IRISSAK [1]

The net profit margin, or simply net margin, measures how much net income or profit is generated as a percentage of revenue.

It is the ratio of net profits to revenues for a company or business segment. Net profit margin is typically expressed as a percentage but can also be represented in decimal form.

<h3>How do we calculate net profit margin?</h3>

Net profit margin is calculated by dividing the net profits by net sales, or by dividing the net income by revenue realized over a given time period.

<h3>What is good net profit ratio?</h3>

For example, in the retail industry, a good net profit ratio might be between 0.5% and 3.5%.

Other industries might consider 0.5 and 3.5 to be extremely low, but this is common for retailers. In general, businesses should aim for profit ratios between 10% and 20% while paying attention to their industry's average.

Learn more about net profit margin here:

<h3>brainly.com/question/22024991</h3>

<h3>#SPJ4</h3>

6 0
1 year ago
Contribution Income Statement and Cost-Volume-Profit Graph Picnic Time produces a picnic basket that is sold for $100 per unit.
Ira Lisetskai [31]

Answer:

Graph Picnic Time

Contribution Income Statement

For the Month of July

Sales                                               $400,000

Less variable costs:

Direct materials                              $100,000

Direct labor                                        60,000

Manufacturing overhead                  20,000

Selling and administrative                 16,000

Total variable costs                       $196,000

Contribution margin                     $204,000

Less fixed cost:

Manufacturing overhead $36,000

Selling and administrative 68,000

Total fixed costs                            $104,000

Profit                                              $100,000

Explanation:

a) Data and Calculations:

Selling price per picnic basket = $100

July Production and sales = 4,000 baskets

Variable Costs per Unit:

Manufacturing:

Direct materials              $25

Direct labor                        15  

Manufacturing overhead   5

Total                               $45

Selling and administrative 4

Total                               $49

Fixed Costs per Month

Manufacturing overhead $36,000

Selling and administrative  68,000

Total                                 $104,000

Contribution Income Statement

For the Month of July

Sales                                               $400,000 ($100 * 4,000)

Less variable costs:

Direct materials                              $100,000 ($24 * 4,000)

Direct labor                                        60,000 ($15 * 4,000)

Manufacturing overhead                  20,000 ($5 * 4,000)

Selling and administrative                 16,000($4 * 4,000)

Total variable costs                       $196,000

Contribution margin                     $204,000

Less fixed cost:

Manufacturing overhead $36,000

Selling and administrative 68,000

Total fixed costs                            $104,000

Profit                                              $100,000

8 0
3 years ago
Other questions:
  • On November 6, 20X7, Zucor Corp. purchased merchandise from an unaffiliated foreign company for 50,000 units of the foreign comp
    13·1 answer
  • What is economical of scale?
    13·1 answer
  • Aaron is an administrative manager at EMC Insurance. His job includes updating the company website every morning to include the
    13·2 answers
  • On June 1, 2018, Cork Oak Corporation purchased a passenger automobile for 100 percent use in its business. The auto, with a cos
    6·1 answer
  • The Chambers Manufacturing Company recorded overhead costs of $14,182 at an activity level of 4,200 machine hours and $8,748 at
    11·1 answer
  • In cell g5, construct a formula to calculate the percent of total by dividing the annual total for salaries and benefits by the
    13·1 answer
  • Last year mike bought 100 shares of dallas corporation common stock for $53 per share. during the year he received dividends of
    12·1 answer
  • How has BRICs membership benefited South Africa so far?
    12·1 answer
  • Big data analytics programs (analyzing massive data sets to make decisions) use gigantic computing power to quantify trends that
    9·1 answer
  • When Subway uses selective stores around the country to introduce a new food item, the food item
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!