Answer:
a) Jackie's accounting profit of just zero, her revenue have to be $5000
b) The revenue would give Jackie an economic profit of just zero is $67,000
Explanation:
a) $5,000 is the only cost that would have to add to the accounting profit calculation, which is the cost of upgrading her computer equipment every year as she runs the business out of a room in her home. For her accounting profit to be just equal to zero, her total revenue would have to be $5,000 to meet the requirement.
b) Total revenue is $67,000, which includes the cost of equipment upgrade, the opportunity cost of not renting out the room, and the opportunity cost of Jackie’s time. All the costs that will add to the calculation for the economic profit of the company. Jackie’s total revenue would have to be $67,000 to be just zero to meet the requirement.
A manufacturing business changes the basic inputs into products that are sold to the customers.
The manufacturing business is in charge of manufacturing the goods for the entire country. It takes input from the economy as raw materials and processes or manufactures it and then gives the output back to the company. A very simple example of this is steel rods. The manufacturing company changes the basic inputs of steel into products which are steel rods.
An enterprise is a business or a company that runs its own business. Retail is a type of business that buys goods from wholesalers and sells them to customers. Service is the work that is done by professionals like doctors. None of these actually make their own goods to sell back to the customers. They only sell other goods or services without manufacturing anything new.
Learn more about manufacturing business here:
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Answer:
$120
Explanation:
.4 x 300 = $120
the MPC (Marginal propensity to consume) is essentially the same as saying this is how much of your additional income to spend. In this case, you spend .4 of your additional income. Multiplying .4 by $300 in additional income results in $120
Answer:
a Coasian solution to an externality situation.
Explanation:
Basically. a Coasian solution to an externality situation occurs when the economic activities of one party results in a damage or cost to another party or their property. In this situation, the Coase Theorem which recommends two possible settlements may be applied. The first settlement is for the party causing the damage or imposing the cost to choose to give financial compensation to the affected party so that he can continue to impose the cost or cause the damage. The second settlement is for the affected party to pay the party causing the damage or imposing the cost so that he can stop causing the damage or imposing the cost.
From the question, the affected person chose the second possible settlement by offering to pay the passenger in front of him to keep her from reclining her airplane seat. It is therefore an example of a Coasian solution to an externality situation.
Answer:
Option B- He acted in good faith.
Explanation:
The person who is trading with the other party owes the duty of care which is well stated in the negligence act. However in this case we saw that though the law was unclear but still the CEO acted in best interest of the public at large by consulting the attorney to shed light on the issue. Remember law is ethically minimum that is desired but in this situation the CEO was committed to comply with law that's why he consulted attorney. So saying that he acted in good faith is the best defense in the court.
