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Gennadij [26K]
3 years ago
7

Ben quit his job as an economics professor to become a golf professional. He gave up his $30,000 salary and invested his retirem

ent fund of $50,000 (which was earning 10 percent interest) in this venture. After all expenses, his net winnings were $35,000. Ben's economic profits were:________.
a. $35,000.
b. $5,000.
c. $2,000.
d. zero.
Business
1 answer:
Drupady [299]3 years ago
6 0

Answer:

The correct answer is B.

Explanation:

Giving the following information:

He gave up his $30,000 salary and invested his retirement fund of $50,000. After all expenses, his net winnings were $35,000.

The difference between economic profit and accounting profit is that the first one takes into account the opportunity cost. In this case, the cost of not perceiving the salary.

Economic profit= winnings - opportunity cost

Economico profit= 35,000 - 30,000= $5,000

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Answer:

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If the process is highly automated, then the second best allocation base would be machine hours, but that isn't an option either.

8 0
3 years ago
The elements of the business environment include the:.
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Explanation:

5 0
2 years ago
Bonita industries sells two types of computer hard drives. the sales mix is 30% (q-drive) and 70% (q-drive plus). q-drive has va
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5 0
3 years ago
An employee is dissatisfied with the resolution of an ethical conflict with his supervisor at his place of employment. According
Greeley [361]

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Explanation:

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7 0
2 years ago
The type of attack that involves the hacker doing some research about you to make the email more convincing and personalized is
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Answer: <em>Spear-phishing</em><em> </em>is the type of attack that involves the hacker doing some research about you and makes the email more convincing.

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The hackers who use spear-phishing are out there trying to steal from others. They attempt to steal important data, money, and the security of others. These hackers employ methods that impersonate someone to trick their friends and acquaintances so that they are more willing to read the message and do what is asked.

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3 years ago
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