Economic profit<span> is the difference between total monetary revenue and total costs, but total costs include both explicit and implicit costs. </span>Economic profit<span> includes the opportunity costs associated with production and is therefore lower than </span>accounting profit<span>.</span>
After implementing a solution to a given work related problem the manager should evaluate the outcome of the solution
Explanation:
A manager should have leadership qualities where he or she is in charge of the entire group of people in the industry and is responsible for any mistakes or errors caused by the employees.
He or she should know how to tackle and provide solutions to a problem that is being faced by the company.
A manager should be a good role model for his/her subordinates and encourage them in solving their problems by themselves.
This kind of person in business terminology is called a free rider.
Answer:
$(4,000)
Explanation:
Calculation to determine At the end of the first accounting period what would be reported for Net Operating Cash Flow on the Statement of Cash
Inventory purchased on account $5000
Less Returned of inventory purchased $1,000
Net Operating Cash Flow $(4,000)
($5,000-$1,000)
Therefore At the end of the first accounting period what would be reported for Net Operating Cash Flow on the Statement of Cash is $(4,000)
Answer:
The marginal revenue product of labor is equal to the marginal product of labor multiplied by the product price. The formula is:
The marginal product of labor is the additional output that can be achieved by adding an additional unit of labor. The marginal revenue product of labor measures the same thing but in money, not units.