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Maru [420]
3 years ago
7

Harvey quit his job at State University where he earned $45,000 a year. He figures his entrepreneurial talent or foregone entrep

reneurial income to be $5,000 a year. To start the business, he cashed in $100,000 in bonds that earned 10 percent interest annually to buy a software company, Extreme Gaming. In the first year, the firm sold 11,000 units of software at $75 for each unit. Of the $75 per unit, $55 goes for the costs of production, packaging, marketing, employee wages and benefits, and rent on a building.
Refer to the above information. The implicit costs of Harvey's firm in the first year were:
a. $50,000
b. $60,000
c. $100,000
d. $150,000
Business
1 answer:
kompoz [17]3 years ago
6 0

Answer:

b. $60,000

Explanation:

Implicit cost is the cost which is not shown as a cost in the statement of income.

As it includes basically the opportunity cost.

This will include:

Salary foregone = $45,000

Entrepreneurial skills income = $5,000

Interest on bonds foregone = $100,000 \times 10% = $10,000

Thus, total implicit cost = $45,000 + $5,000 + $10,000 = $60,000

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Maksim231197 [3]

Answer:

Design, Design, Click and Drag, Subform Wizard

Explanation:

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7 0
2 years ago
Tim Company had sales of $30,000, increase in accounts payable of $5,000, decrease in accounts receivable of $1,000, increase in
stepladder [879]

Answer:

$31,000

Explanation:

The computation of the cash collected from customers is shown below:

Cash collected from customers = Sales + Decrease in accounts receivable

                                                    = $30,000 + $1,000

                                                    = $31,000

We simply added the sales and the Decrease in accounts receivable so that the accurate amount can come

All other information which is given is not relevant. Hence, ignored it

7 0
3 years ago
When the demand curve shifts to the left and all else is held constant, the equilibrium price ________ and the equilibrium quant
rewona [7]

When the demand curve shifts to the left and all else is held constant, the equilibrium price <u>falls</u> and the equilibrium quantity <u>falls</u>.

<h3>The types of chart.</h3>

In Economics, there are two main types of chart that can be used to illustrate the relationship between the total quantity of goods or services that are demanded by consumers and the total quantity of goods or services that were supplied by a manufacturer (producer) at a particular price and these include the following:

  • Supply schedule
  • Demand schedule

<h3>What is an equilibrium?</h3>

An equilibrium can be defined as the point on a supply and demand chart where the demand curve and the supply curve intersect.

In conclusion, the equilibrium price and the equilibrium quantity would <u>fall</u> when the demand curve shifts to the left and all else is held constant.

Read more on equilibrium here: brainly.com/question/2000166

#SPJ1

6 0
2 years ago
Refined Grains, Inc., agrees to sell to Sunny Cereal Company a certain quantity of refined oats each week but no mention is made
ICE Princess25 [194]

Answer:

Option A                              

Explanation:

As per the uniform commercial code set by the appropriate government agency of America, delivery of any commodity whether tangible or intangible should take place at the business facility of the supplier. Such facility could be a warehouse or a shop etc. However this is a guideline and not a rule which must be followed.

Thus, from the above we can conclude that the correct option is A.    

4 0
3 years ago
Inflation means:
NARA [144]

Answer:

The correct answer is 'Average prices are rising, but it is not certain what is happening to relative prices'.

Explanation:

Inflation is the overall increase in the prices of goods and services. It is a quantitative measure to understand the change in the prices. In general, inflation means average prices of goods and services are rising. It does not account for the relative prices so it is not certain what is happening to relative prices.

4 0
3 years ago
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