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Anarel [89]
4 years ago
8

2. Working with Numbers and Graphs Q2 Kevin is a baseball player who earns $800,000 per year playing for team X. If he weren't p

laying baseball for team X, he would be playing baseball for team Y and earning $720,000 per year. If he weren't playing baseball at all, he would be working as an accountant earning $115,000 per year. Kevin’s economic rent as a baseball player playing for team X is $ . His economic rent as a baseball player is $ .
Business
1 answer:
ddd [48]4 years ago
4 0

Answer:

The economic profit will be of 80,000 as We have to discount the opportunity cost, which is the best alternative to each factor. In this case Kevins potential wages if not playing for team X would be team Y which is 720,000 therefore the economic gain for playing in team X is 80,000

Explanation:

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Considering the gas and food about $250
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What grade do we learn geometry in?
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grade 9

Explanation:

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3 years ago
Oil creek auto has sales of $3,740, net income of $274, net fixed assets of $2,800, and current assets of $920. the firm has $63
Montano1993 [528]

An income statement that expresses each line item as a percentage of a base amount is known as a common-size income statement

<h3>What is common-size statement?</h3>

An income statement that expresses each line item as a percentage of a base amount is known as a common-size income statement. Typically, this refers to overall earnings or total sales. Financial ratio analysis's objective is comparable to that of a common-size income statement. Items are shown as a percentage of a common base amount, such as total sales revenue, in a financial statement of common size. This kind of financial statement makes it simple to compare one company to another or different time periods within the same company.

The common-size statement refers to expressing each value as a percent of sales:

Sales                 3,340                   100.000%

income                 274                     8.234% (274 divided by 3340 times 100)

fixed assets          2,699               80.809%

current assets         836                25.030%

Inventory               417                0.12485  (417/3,340)

To learn more about common-size statement refer to:

brainly.com/question/14275288

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5 0
2 years ago
The Kitchen Company makes toaster ovens and bread machines. Toaster ovens Sales price per unit: $60 Variable costs per unit: $38
Sever21 [200]

Answer:

The company should produce 7,500 bread machines to maximize profit

Explanation:

Given:

                                                                      Toaster Ovens Bread Machines

         Sales Price per unit                                     60                           135

Less: variable cost per unit                                   38                           75

Contribution Margin per unit                                22                           60

Machine hours per unit                                            1                           2

Now,

Contribution Margin per Machine Hour = \frac{\textup{Contribution Margin per unit}}{\textup{Machine hours per unit}}

thus,

Contribution Margin per Machine Hour        22                           30

Since,

The Contribution Margin per Machine Hour for the bread is more, therefore to maximize profits the kitchen company should produce Breads machines.

also,

Number of units to be produced = \frac{\textup{Machine hours}}{\textup{Machine hours required}}

= \frac{\textup{15,000}}{\textup{2}}

= 7,500 units

5 0
3 years ago
When price exceeds average variable cost in the short run, a competitive firm's marginal cost curve is regarded as its supply cu
frutty [35]

Answer:D. the marginal cost curve determines the quantity of output the firm is willing to supply at any price.

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For example, if a firm has to buy one more production equipment in order to increase the number of product is the cost associated with that additional equipment is a MARGINAL COST.

THE MARGINAL COST CURVE DESCRIBES THE RELATIONSHIP BETWEEN THE MARGINAL COST OF A FIRM IN THE SHORT-TERM PRODUCTION OF A GOOD OR SERVICE AND THE QUANTITY OF FINISHED GOODS PRODUCED BY A FIRM.

6 0
3 years ago
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