Answer:
Explicit Costs: 1500+1750 = 3250.
Explicit Cost is the cost that is tangible and can be seen.
Implicit Costs & Opportunity Costs: 20000+4000 = 24000.
Implicit cost and opportunity cost will be the same here because they both represent the intangible cost that is foregone by choosing the next best alternative.
Economic Profit: Revenue - Explicit Costs - Implicit Costs
Therefore, the economic profit in this question will be,
45000-3250-24000 = $17480.
Although Britney is earning a profit of $17480 in 2012, from economic viewpoint, she is operating at loss because she could have earned $24000(Rent+Music) by just doing what she was doing previously.
Hope my answer helps you. Good luck.
Answer:
Lower bound is $3024
Upper bound is $3862
Mean(U) = $3443
Sample (n) = 100
Explanation:
9.63 According to USA TODAY research, the average personal debt (such as loans on cars, credit cards, and so forth) per household in the United States was $17,989 in 2004 (USA TODAY October 4, 2004). A recent random sample of 75 households from New Hampshire yielded a mean personal debt of $16,450 with a standard deviation of $4650. Using the 2% significance level, can you conclude that the current nean personal debt for all households in New Hampshire is different from $17,989? Use both the p-value approach and the critical-value approach.
Answer:
The set of whole number less than 5 is 0,1,2,3,4
Because the additional output is produced with an increasing input in the production signals an example of <u>diminishing returns</u> to specialization.
<h3>What is a
diminishing returns?</h3>
A diminishing returns to specialization is known to occurs if more units of resources are required to produce each additional unit.
In conclusion, the additional output which is produced with an increasing input in the production is an example of <u>diminishing returns</u> to specialization.
Read more about diminishing returns
<em>brainly.com/question/14966527</em>
It is a type of regressive Is the answer