1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Elden [556K]
3 years ago
12

A farmer has cash costs of S1.50/bu for his corn. The opportunity cost of his labor is S0.30/bu and the opportunity cost of his

land (which he owns) is $0.40/bu. If he sells his corn for $2.50/bu, then his economic profits are:_______ A) $2.50/bu B) S1.00/bu C) S0.30/bu D) S0.70/bu E) can't tell based on the information given
Business
1 answer:
Ghella [55]3 years ago
4 0

Answer:

C. $0.30/bu

Explanation:

Given that

Cash cost = $1.50/bu

Opportunity cost of labour = $0.30/bu

Opportunity cost of Land = $0.40/bu

Sales from corn = $2.50/bu

Recall that economic profits = Total income - Total expenses - opportunities cost

Therefore

Economic profits = 2.50 - 1.50 - (0.30 + 0.40)

= 2.50 - 1.50 - 0.70

= 0.30

Therefore, economic profits = $0.30/bu

You might be interested in
Pete offered Liz a job at his new law firm. In anticipation, Liz quit her job at Mega Firm, bought a new computer and invested i
MissTica

Alcohol hand sanitizer

6 0
3 years ago
Which option identifies the type of budget development represented in the following scenario?
Alexus [3.1K]

Answer:top approach

Explanation:

4 0
2 years ago
For​ 2018, Rest-Well Bedding uses​ machine-hours as the only overhead​ cost-allocation base. The direct cost rate is​ $6.00 per
maria [59]

Answer:

Predetermined manufacturing overhead rate= $6.875 per machine-hour

Explanation:

Giving the following information:

The estimated manufacturing overhead costs are​ $275,000 and an estimated​ 40,000 machine hours.

To calculate the predetermined manufacturing overhead rate we need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 275,000/40,000

Predetermined manufacturing overhead rate= $6.875 per machine-hour

3 0
3 years ago
Performance of which activities are most likely to improve in front of an audience?
Firlakuza [10]
<span>Well practiced activities are most likely to improve when performed in front of an audience. On the flip side, if an activity is ill-practiced, the performer is more likely to flub the performance. But practice enhances performance, and so anyone wanting to demonstrate a good show of something should practice it intently beforehand.</span>
7 0
3 years ago
Please answer all 4 of these fast
jeka57 [31]

Answer:

15. A - Net Loss

Rest of the questions are bad quality, take a better picture.

Explanation:

7 0
3 years ago
Read 2 more answers
Other questions:
  • Which part of a form can a user edit after its creation?
    6·1 answer
  • You operate a car detailing business with a fixed amount of machinery​ (capital), but you have recently altered the number of wo
    8·1 answer
  • On January 1, Year 1, Chaco Company sold $300,000 of 10% twenty-year bonds. Interest is payable semiannually on June 30 and Dece
    9·2 answers
  • there were 200 tickets sold for a college basketball game. Tickets were $4.50 for students and $9 for adults. The total amount c
    12·1 answer
  • The __________________, passed in 1968, requires the clear explanation of consumer credit costs and garnishment procedures (taki
    9·1 answer
  • Although skyscrapers are mostly composed of steel and glass, carpenters are often employed to help with construction. How might
    12·1 answer
  • The principal-agent problem arises when ________.
    7·1 answer
  • I need help. My bunny died a few months ago. We had him for abt 11 and a half years. When i was sad or mad or just wanted to get
    6·2 answers
  • A question that is used as the focus of a PBL project that communicates the challenge you must solve is called __________.
    15·1 answer
  • Contrast the effects of LIFO versus FIFO on reported assets (i.e., the ending inventory) when
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!