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3 years ago

Economists consider both explicit and implicit costs when measuring economic profit

1 answer:

7 0

Explicit and Implicit costs should be considered when measuring economic profit because a business must cover its opportunity costs as well as its out-of-pocket expenses to be truly profitable. Economic profit consists of revenue minus implicit (opportunity) and explicit (monetary) costs. Explicit costs are monetary costs a firm has. Implicit costs are the opportunity costs of a firm’s resources.

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Productivity may best be defined as

AleksandrR [38]

<span>The answer is C. Productivity is the ratio of outputs to inputs. This answer is correct because productivity is a measure of efficiency, and is not a measure of quantity, profit (revenue), or quality. Productivity is the measure of effectiveness in converting inputs to outputs.</span>

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3 years ago

Read 2 more answers

If a customer buys $10,000 worth of stock in a cash account, then sells the shares for $12,000 without first paying for the buy

katovenus [111]

Answer:

B) II and III.

Explanation:

Based on the information given the statement that are TRUE are II and III

II. The amount of $2,000($10,000-$12,000) which is the profit for the business will be given to the customer but the customer account will have to be frozen or put on hold for 90 days because the customer had not paid for the buy side before selling the shares for the amount of $12,000

III. In a situation where customer paid the amount for the buy side in full either before or after the fifth business day which is the day that follows the trading date, the customer account that had be frozen will be unfrozen or lifted because the buy side amount had be paid in full.

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3 years ago

Which of the following is considered important in a company's attempt to strengthen partner relationships? Group of answer choic

enot [183]

Answer:

All of the above are considered important in strengthening partner relationships

Explanation:

Partner relationship exists when two or more people come together to undertake a business venture. Profits and losses are between all partners.

Maintaining a good partner relationship ensures that the business performs and meets its goals.

A strategic path for objectives of the partners means the business does not only plan but executes its plans.

Shared vision and objectives ensures the partners work in harmony to achieve set targets.

The obejecives should be measureable, this sets realistic milestones.

Also shared vision and objectives should be formally agreed to by all parties.

8 0

3 years ago

Suppose a perfectly competitive market is suddenly transformed into a monopoly (all competing firms are consolidated into a sing

Digiron [165]

just you know what it must be that i think

Explanation:

suppose a perfectly competitive market is sufdenly what think so

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3 years ago

A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that fa

brilliants [131]

Answer:

See below

Explanation:

With regards to the above, the predetermined overhead rate is computed below.

Predetermined overhead rate = Estimated factory overhead cost / Estimated direct labor hours

Given that;

Estimated factory overhead cost = $341,900

Estimated direct labor hours = 48,900

Therefore,

Predetermined overhead rate per direct labor hour

= $341,000 / 48,900

= $6.97 per direct labor hour

3 0

3 years ago