Answer:
The firm will need additional revenue of $90,000 to earn normal profit(zero economic profit)
Explanation:
Normal profit equals zero economic profit or when total revenue equals
the addition of explicit cost and Implicit cost. Implicit cost is the opportunity cost.
Explicit cost = $200,000 + $75,000 + $30,000 + $20,000 + $35,000
=$360,000
Implicit cost is $90,000
Total revenue is $360,000
Normal profit = $360,000 - ($360,000 + $90,000)
$360,000 - $450,000
-$90,000.
This means the firm will need additional revenue of $90,000 to earn normal profit(zero economic profit)
Answer:
Particulars Amount
Provision for uncollectible $6,080 ($76000*8%)
Less: Provision already made <u>$1,000</u>
Provision to be made <u>$5,080</u>
Date Particulars Debit Credit
31-Dec Bad Debts $5,080
To Allowance for Doubtful Accounts $5,080
(Being the adjusting entry to estimate bad debts)
Answer:
Normal goods have a positive relationship with income & purchasing power parity (PPP) with an increase in income ( I ) consumption of normal goods also increased respectively.
So, with the increase in students' income consumption of Pizza will be increased
As normal goods have a positive income elasticity of demand coefficient but it will be less than one.
Explanation:
Let’s discuss the normal goods, as a decrease in the price of normal goods its consumption will boost or increase. As when normal goods become cheaper, they will be consumed much as we know that people will consume them because of the logical reasoning of cheaper than its substitutes. Likewise, with an increase in income, its consumption will also increase but at a stage where it will become inelastic or constant.
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Answer:
11.23%
Explanation:
Arithmetic return = Total return/Total time period
6% = (14% + 17% - 1% + x%) / 4
(6%*4) =30% + x
24% = 30% + x
x = (24% - 30%)
x = -6%
<em>For the standard deviation, we need to use </em><u><em>stdev.s function</em></u><em> in Ms Excel</em>
Standard deviation = stdev.s (14%,17%,-1%,-6%)
Standard deviation = 0.112249722
Standard deviation = 11.23%
So, the standard deviation of the stock's returns for the four-year period is 11.23%.
Research skills
(Time management is lower on the totem pole while the other 2 are on the bottom)
