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MAVERICK [17]
3 years ago
13

Explicit and Implicit Costs) Amos McCoy is currently raising corn on his 100-acre farm and earning an accounting profit of $100

per acre. However, if he raised soybeans, he could earn $200 per acre. Is he currently earning an economic profit? Why or why not?
Business
1 answer:
loris [4]3 years ago
3 0

Answer:

No

Amos McCoy is earning an economic loss. His implicit cost ($200) is greater than his accounting profit ($100)

Explanation:

Economic profit it accounting profit less implicit cost.

Accounting profit is total revenue less total cost or explicit cost.

Implicit costs are opportunity costs.

Economic profit = $100 - $200 = $-100

Amos McCoy Is making an economic loss of $-100

I hope my answer helps you.

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Three friends are trying to decide what to do on Saturday night. The options are to go to a party, go see a play, or hang out at
zhenek [66]

Answer:

go to party

Explanation:

Scale of preference can be described as a list of wants of individuals. They are usually arranged in order of importance or preference.

If the individuals vote  on hanging out versus going to the play :

Abdul would vote to see a play because it is his most preferred activity

Gina would vote to go hangout because it is her most preferred activity

Shaquille would vote to hangout. this is because going to the play is his second most preferred activity

so hangout would win with 2 votes to 1 in this round.

In the next round of voting, the two contenders would be hangout and going to the party.

Abdul would vote to go the party.  Going to the party is  his second most preferred activity and hangout is his least preferred activity

Gina would vote to go hangout because it is her most preferred activity

Shaquille would vote to go to the party. This is his most preferred activity.

Going to the party would win the second round of voting

6 0
3 years ago
On December 29, 2019, Patel Products, Inc., sells a delivery van that cost $20,000. The equipment had accumulated depreciation o
pashok25 [27]

Answer:

journal entry  are given below

carrying value = $4000 and cash received is $2000

Explanation:

given data

delivery van cost = $20,000

accumulated depreciation = $16,000

Annual depreciation  = $2,000

solution

journal entry  are

date                              title                                          debit          credit

December 29, 2019    Cash                                        $2000

                                   Accumulated depreciation      $16000

                                   Delivery van                                                  $20000

note that

here carrying value is = $20000 - $16000

carrying value = $4000

and cash received is $2000

7 0
3 years ago
Althea, black, has been a deejay for a local Christian music station for several years. The station got a new general manager an
VladimirAG [237]

Answer and explanation:

Althea is covered by the Equal Employment Opportunity Commission (<em>EEOC</em>). The EEOC is an agency of the federal government of the United States that enforces federal laws regarding discrimination of <em>race, sex, age, religion, ethnicity, national origin or impairment</em>. Althea was fired with the excuse that it is not "appropriate" for an African American deejay to play music on a white Christian music station. This is reason enough to sue the radio station for discrimination.

8 0
3 years ago
The extent to which the income from individual transactions is affected by fluctuations in foreign exchange values is known as
Salsk061 [2.6K]
<span>The extent to which the income from individual transactions is affected by fluctuations in foreign exchange values is known as Transaction Exposure.</span><span />
8 0
3 years ago
Read 2 more answers
casey deesel is a sports agent negotiating a contract for titus johnston, an athlete in the national football league (nfl). an i
anastassius [24]

Based on the available data for a player of Titus Johnston's profile, his guaranteed amount would be $32.74 million.

<h3>Calculations and Parameters</h3>

Given that Casey Deeselis a sports agent negotiating a contract for Titus Johnston, an athlete in the National Football League

He has generated data on 506 NFL athletes who have recently signed new contracts and who get paid a percentage of his team's plays that the athlete is on the field.

With this, each award they get, each minute they spend on the field, each game missed, and then guaranteed money are all accounted for which is displayed in the attached image below.

If we observe the best-pruned tree given below, based on the arrows and circles,

For Snap percent = 96

Awards = 7

Games missed = 3

The conclusion is that with the profile of Titus Johnston, he would receive a guaranteed amount of $32.74 million.

Read more about regression tree here:

brainly.com/question/28465511

#SPJ1

8 0
1 year ago
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