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worty [1.4K]
3 years ago
8

Shelley’s Salsa produces and sells organic salsa. Last year it sold 3 million tubs of salsa at a price of $3 per tub. For last y

ear, the firm's a. explicit costs were $9 million. b. total revenue was $9 million. c. accounting profit was $9 million. d. economic profit was $9 million.
Business
1 answer:
Murrr4er [49]3 years ago
6 0

Answer: Option B

Explanation:

A. Explicit cost are the cost paid to others in return of their service. Hence Option A is incorrect.

B. Revenue is the total amount of earnings a company have before deducting for expenses. Hence Option B is correct.

C. Accounting profit means (Revenue - explicit cost) . Hence Option C is incorrect.

D. Economic profit means (Revenue - explicit cost - implicit cost) . Hence Option  D is incorrect.

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Maggie’s mom agrees to let Maggie buy small gifts for some of her friends. Each gift costs $4. Maggie’s mom gave her a budget of
solmaris [256]

Maggie can buy 3 gifts

Solution:

Total budget $19

Each gift costs $4

Shipping fee $7

a.  Total budget — Shipping fee = $19 - $7 = $12  

Maggie’s got $12 more

Each gift costs $4  

Number of gifts that Maggie can buy = \frac{12}{4}  =3  

b.   Let x represent the number of gifts.  

                      19 = 7 +4x

       Subtract -7 from both sides

             19 - 7= 7 + 4x - 7

            Now Simplify,

                   12 = 4x

         Divide both sides by 4

                   \frac{12}{4} = \frac{4x}{4}

                      x = 3  

5 0
3 years ago
If you don't know how much you will spend in a particular category such as clothing, you should
Klio2033 [76]
Find out how much you have look at what clothing you need then look for the best prices and try to find some discounts so you can save some money so just maby you can get another product with the money you saved.

6 0
2 years ago
In the short run, a supply shock will _________ the equilibrium level of prices and ___________ the equilibrium level output. re
Taya2010 [7]

Answer: raise; reduce

Explanation:

A Supply shock is described as a situation where the supply of a good changes suddenly/ abruptly due to an unforeseen event.

Supply shocks can be positive but are usually negative so we will assume the supply shock is negative here.

If there is a negative supply shock, the amount of goods being produced will reduce abruptly which will force the supply curve to shift left.

It will then intercept the the demand curve at an equilibrium level that has a higher price and a lower quantity of output.

Think of it this way. Negative supply shock ⇒ less goods ⇒ scarcity ⇒ higher prices.

5 0
3 years ago
The Fed has decided to expand the money supply, leading to lower interest rates. As a partner in a tech start-up, you react to t
Alona [7]

Answer:

A, B and D

Explanation:

Expanding the money supply is an exercise of expansionary monetary policy.

This decision will first allow our tech startup to acquire cheaper loans and expand our operations, this expansion in operations will result in new employment opportunities and hence as a result, unemployment will be reduced assuming this is a general trend in the economy.

This decision also directly reflects an increased investment and hence the GDP on the whole and the investment part of GDP would both increase,

GDP = C + I + G + (X - M), where I = investment.

This change in macro economy will increase aggregate demand due to expansionary effects. Increase in imports is not conclusive as it may or may not happen depending upon the demand state.

Hope this helps.

8 0
3 years ago
. A firm begins the year with a Book Value of $10 million. During the year it generates $5 million in net profits. It paid $1 mi
Keith_Richards [23]

Answer:

b) $12 million

Explanation:

The new Book Value of the firm at the bigining of next year is $12 million.

In the calulation of Net Pfofit, Interst on loan has already been deducted, so deducting it from the total calculation will be wrong.

hence, only dividend paid will be removed from the addition of the Book Value anf the Net profit.

Closing balance = Opening Book Value + Net Profit - Dividend Paid

Note - The Net Profit is already ne of interest on loan.

Closing balance = $10 + $5 - $3

Closing balance is $12

3 0
3 years ago
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