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gregori [183]
3 years ago
12

Chris was the business manager for a real estate firm earning an annual salary of $40,000. Then Chris decided to become a consul

tant. Chris hired an administrative assistant at $15,000 per year and rents office space (utilities included) for $3,000 per month. Chris earned $100,000 in total revenue the first year as a consultant.In order for Chris to earn normal profit, accounting profit would have to be _______.
Business
1 answer:
Reptile [31]3 years ago
7 0

Answer:

The answer is: $40,000

Explanation:

Chris's opportunity cost of working as a consultant instead of working as a business manager (her old job) is $40,000. So in order for Chris to earn normal profit, the difference between his revenue and his combined explicit (e.g. rent, assistant's salary) and implicit costs (opportunity cost) is zero.

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the nominal interest rate is 7 percent and the expected inflation rate is 4 percent. the real interest rate is
Hoochie [10]

Answer:

2.88%

Explanation:

According to the fisher equation :

(1 + Nominal interest ) = (1 + real interest) (1 + inflation rate)

(1.07) = (1.04) x (1 + real interest)

(1.07) / (1.04) = (1 + real interest)

1.028846

real interest rate = 2.88%

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3 years ago
In the United States many farms are integrated into a large food-production industry. This is known as:
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Agribusiness, i believe is your answer

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it's 2 opportunity cost will increase

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8 0
1 year ago
Your parents tell you that they must create a personal balance sheet. Explain what a personal balance sheet is and explain the t
Zinaida [17]
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It’s important to list your assets by their liquidity—the facility by which they can be turned into cash—starting with cash itself and moving into long-term investments at the end of the list. For the purpose of an annual balance sheet, you can separate your list between “Current Assets,” anything that can be converted into cash within a year or less, and “Fixed Assets,” long-term possessions that can be sold or that retain value down the line, minus depths and other things. 

3 0
3 years ago
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solong [7]

If a certain household earns and spends $24,000 per year and, on average, holds a money balance of $6,000, then the velocity of money for this household is 4.

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The definition of household relates to family or social units living together, or household behavior. You and your family members who live with you are an example of your household. Budgets and checkbooks are examples of household budget tools.

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2 years ago
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