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Scrat [10]
3 years ago
14

Definition of economic costs

Business
1 answer:
crimeas [40]3 years ago
6 0

Answer:

1. I grouped the costs into explicit and implicit costs below

2. accounting profit = 89000

3. economic profit = 3000

4. daniel should stay in the piano business

Explanation:

<u>explicit costs include</u>:

1. The wholesale cost for the pianos that Darnell pays the manufacturer at $452000

2. The wages and utility bills that Darnell pays at $301000

<u>the implicit costs include:</u>

1. The salary Darnell could earn if he worked as an accountant at $48000

2. The rental income Darnell could receive if he chose to rent out his showroom at $38000

<u>accounting profit</u><u>:</u>

842000-452000-301000

= 89000

<u>economic profit</u><u>:</u>

842000-452000-301000-48000-38000 = 3,000

<u>as an accountant economic profit</u><u>:</u>

48000+38000-89000

= -3000

so he should stay in the piano business so that economic profit would be maximized.

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How much resistance is ther in a 12-volt circuit with a 2-amp current
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To find resistance we will use the well known equation or Ohms Law equation,
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The newspaper reported last week that Bennington Enterprises earned $34.07 million this year. The report also stated that the fi
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Earning growth rate will be 12 %

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4 years ago
Via Gelato is a popular neighborhood gelato shop. The company has provided the following data concerning its operations: Fixed E
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Hunter-Best [27]

Answer:

Letter D is correct. <u>Opening, feedforward, business, feedback, closing.</u>

Explanation:

Every conversation goes through certain stages, regardless of whether the relationship is formal or personal between the interlocutors.

There are 5 stages that determine a conversation process, they are:

  1. Opening,
  2. feedforward,
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Opening begins with a greeting, which can be verbal or nonverbal.Some basic and trivial considerations such as asking how a person is are also part of opening.

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Business already sets up as the stage where the main focus of the conversation is said. This is the central stage of a conversation, where interlocutors discuss ideas and opinions.

Feedback is the stage in which there is a retroactive effect, ie the information or response that the sender has from the receiver and serves as an evaluation parameter of the result of a message.

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3 0
3 years ago
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