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olga2289 [7]
3 years ago
12

Babak owns a sports practice facility called Boston Batting Cages in Boston, Massachusetts. During the first year of operation,

Boston Batting Cages incurred many costs. In that year, Babak spent $5,000 on labor, $2,000 on maintenance, and $1,000 on electricity. Babak took out a loan to open his business, in which he would have earned $1,500, and his previous job, which he could get back at any time, paid him $50,000.Boston Batting Cages incurred ________ in implicit costs.
a. $51,500
b. $9,500
c. $50,000
d. $8,000
e. $7,000
Business
1 answer:
lions [1.4K]3 years ago
7 0

Answer:

$8000

Explanation:

They have to pay $8,000 as an implicit costs.

The implicit expenditure is the advantage of the right to use the personal resources of a company that is not listed as actual, distinct expenditures.

 Computation of Implicit cost for the Boston Batting Cage :

Implicit cost = Labor + maintenance + electricity

= $5,000 + $2,000 + $1,000

= $,8000

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On February 1, 2019, the balance of the retained earnings account of Blue Power Corporation was $315,000. Revenues for February
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Answer:

The retained earnings balance on February 28, 2019 is $305.000.

Explanation:

Balance of the retained earnings account on February 1, 2019 = $315,000

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Net Income = Revenue - Expenses = 61,000 - 65,000 = -4,000

Ending Balance of Retained Earning = Beginning balance of retained earning + net Income - dividend =

Ending Balance of Retained Earning = $315,000 + (-4000) - $6,000

Ending Balance of Retained Earning = $305,000

The retained earnings balance on February 28, 2019 is $305.000.

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3 years ago
What is the correct answer Even when competitive firms are unable to calculate marginal revenue product directly,
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Answer: The corrects answers are "C) the pressures of competition in the labor market" and A) will push wage rates toward the marginal revenue product of labor.".

Explanation: Because the correct and complete statement would be: Even when competitive companies cannot directly calculate the product of marginal income, the pressures of competition in the labor market will push wage rates towards the product of marginal income from labor.

Making it clear that the strong pressures that are the product of competition in the labor market pushed wage rates towards the product of marginal income.

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3 years ago
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Explanation:

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