Answer:
–$12,500
Explanation:
Calculation to determine Determine the profit or loss per contract
Using this formula
Profit or loss per contract=Purchase price-Selling price
Let plug in the formula
Profit or loss per contract= $935,000 – $947,500
Profit or loss per contract= –$12,500
Therefore the profit or loss per contract will be –$12,500
Answer:
c) zero economic profit for firms.
Explanation:
In both cases, while there is room for economic gain, market structures - perfect competition and monopolistic competition - will attract entrants to compete. In the long run, the market goes into balance when economic profit is zero.
Recalling that the concept of economic profit is different from accounting profit.
Answer:
Annual depreciation= $111,870
Explanation:
Giving the following information:
Purchase price= $1,300,000
Salvage value= $57,000
Estimated useful life= 10,000 hours.
Coronado used the asset for 900 hours in the current year.
To calculate the depreciation expense under the activity method, we need to use the following formula:
Annual depreciation= [(original cost - salvage value)/useful life of production in hours]*hours operated
Annual depreciation= [(1,300,000 - 57,000)/10,000]*900
Annual depreciation= $111,870
Answer:
B. the difference between the marginal revenue product of labor and the wage paid by the monopsonist.
Explanation:
An employee can be defined as an individual who is employed by an employer of labor to perform specific tasks, duties or functions in an organization.
Basically, an employee is saddled with the responsibility of providing specific services to the organization or company where he is currently employed while being paid a certain amount of money hourly, daily, weekly, or monthly depending on the contractual agreement between the two parties (employer and employee).
Hence, while an employer may be the owner of a business firm or company, an employee is a subordinate employed to provide unwavering services to the employer while also, being professional and diligent at all times.
Monopsony involves a situation in which an employer has numerous employees who are seeking to gain employment. Thus, this phenomenon avails employers the ability or opportunity to take undue advantage of the employees through exploitations by setting lower wages while employing fewer employees or workers.
Hence, monopsonistic exploitation is the difference between the marginal revenue product of labor and the wage paid by the monopsonist.
The Producer surplus is $300
<h3>
How to calculate the producer surplus ? </h3>
Producer surplus can be described as the profit gotten when a product is sold at the market price. Producer surplus can be calculated by subtracting the consumer surplus from the total surplus.
Producer surplus = Total surplus - consumer surplus
= 500 - 200
= 300
Hence the producer surplus is $300
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