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snow_tiger [21]
3 years ago
6

Jessica makes photo frames. She spends $5 on the materials for each photo frame. She can create one photo frame in an hour. She

earns $10 per hour at a part-time job at the local coffee shop. She can sell a photo frame for $30 each. An economist would calculate the total profit for one photo frame to be __________.a. $5.
b. $10.
c. $15.
d. $25.
Business
1 answer:
expeople1 [14]3 years ago
3 0

Answer:

=$15

Explanation:

An economist will consider the cost of the photo as the materials costs plus the opportunity cost of labor for Jessica. For Jessica, the opportunity cost of making the photo frame is the amount she would have earned working at the coffee shop. Therefore, the $10 she would have earned at the coffee shop is the labor cost of producing one photo frame.

The total cost of making one photo frame would be $5 plus $10.

i,e. $5 + $10 = $15

Profit from the photo frame = selling price - cost price

=$30- $15

=$15

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Answer:

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6 0
3 years ago
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grandymaker [24]

Answer:

a)

Explanation:

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7 0
2 years ago
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6 0
3 years ago
Tom sold his home for $140,000 paying a 7% real estate commission. He bought the home for $45,000, paid $2,000 in closing costs,
Igoryamba

Answer:

$48,200

Explanation:

Given:

Selling price of home = $140,000

Acquisition price = $45,000

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Total adjusted basis  = 45,000 + 2,000 + 35,000 + 9,800

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7 0
3 years ago
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kvv77 [185]

Answer:

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8 0
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