It would be 610.32 . My teacher helped me with that one
Answer:
c. −$80.
Explanation:
The computation of the economic profit is shown below:
Economic profit = Total revenue - Cost of seeds - Earning foregone
where,
Total sales revenue is $300
Cost of seeds is $130
And, the earning foregone is
= 10 hours × $25
= $250
So, the economic profit is
= $300 - $130 - $250
= -$80
We simply applied the above formula to determine the economic profit
Answer:
The correct answer is letter "D": Opportunity cost.
Explanation:
Opportunity cost is described as the return of the choice selected over the potential return that could have been obtained from the choice left behind. It represents the return of the option chosen compared to the choice forgone. Opportunity costs is also defined as the return of the best next available option.
Answer:
B. They make choices based on their self-interests.
Explanation:
A market economy can be defined as the economy of a country where by the government has a minimal influence or intervention on how the market operates.
A market economy is regulated by the individuals that owns the businesses in that economy. These individuals have the ability to direct resources that they need from production to their firms and businesses.
A market economy is largely or greatly influenced and regulated by the rate of supply and demand. Consumers in a market economy have to sometimes paid a high price for the goods and services that they require. Consumers make financial decisions in a market economy by making their choices based on self interests.
A market economy is a very competitive economy because
a. the demand of goods and services by consumers have increased therefore this results in an increase in production of goods and services.
b. The producers tend to high innovative when producing this goods and services required by the consumers.
In a market economy, businesses and firms tend to have an increased of a very high rate of efficiency when producing goods and services such that they minimise or lower the cost of production while ensuring that they make high or huge amounts of profits.
Answer:
<u>$50</u>
<u>Explanation</u>:
In the production function, Q = K0.5L0.5,
K denotes the fixed input in the short run.
First, we calculate the total cost:
Cost of Capital= 25 x $1 = $25
Cost of Labor (for a start 25 workers are used)= 25 x $1 = $25
Total= $50
Since the price of the solar panels is $100, substrating from the total cost $50 (100-50) we get $50 profit per unit of solar panel.
