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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

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Half step

Explanation:

If you're talking about music, then a half step is smaller than a step.

7 0
2 years ago
According to a sustainability survey commissioned by the consulting firm KPMG, approximately ________ of large and mid-sized com
GREYUIT [131]

Answer: 62 percent

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7 0
3 years ago
Read 2 more answers
SBD Phone Company sells its waterproof phone case for $90 per unit. Fixed costs total $162,000, and variable costs are $36 per u
tigry1 [53]

Answer:

6,704 units

Explanation:

The computation of the number of units sold is shown below:

= (Fixed expenses + target profit) ÷ (Contribution margin per unit)  

where,  

Contribution margin per unit = Selling price per unit - Variable expense per unit  

= $90 per unit - $36 per unit

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So, the number of units sold is

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4 0
3 years ago
As part of her retirement planning, Mrs. Campbell purchases an annuity that pays compounded quarterly. If the quarterly payment
melisa1 [442]

Answer: $88289.8

Explanation:

Here's the complete question:

As part of her retirement planning, Mrs. Campbell purchases an annuity that pays 9.5% compounded quarterly. If the quarterly payment is $3,500, how much will Mrs. Campbell have saved in 5 years?

The future value of an annuity will be calculated using the formula:

= A((1+r)^n)-1)/r

Where,

A = the annuity payment = 3500

r = the interest rate = 9.5% compounded quarterly = 9.5% / 4 = 0.095 / 4 = 0.2375

n = the number of time periods = 4 × 5 = 20

We then substitute the values and we will get:

= A((1+r)^n)-1)/r

= 3000 × (1.02375^20-1) / 0.02375

= $88289.8

7 0
2 years ago
The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year:Preferred 2
SIZIF [17.4K]

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
3 0
3 years ago
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