Pay PMI (private mortgage insurance) which is the amount the lender charges to protect their interests in case the borrower stops paying and defaults on the loan.
Answer: C.) Neither approved the application nor issued the policy
Explanation:
Answer:
Accounting profit=$300,000
Explanation:
<em>Accounting profit is the difference between revenue from from production or service activities and the expenditures incurred. </em>
<em>It is the difference between the total revenue and the</em><em> total explicit costs</em><em>. Explicit costs are those transaction cost incurred to generate revenue . E.g the cost of the material , labour, expenses e.tc.</em>
On the other hand, economic profit includes accounting profit plus opportunity cost. Opportunity cost is the value of the benefits sacrificed in favour of a decision.
Accounting profit = Sales revenue - Explicit cost
Sales revenue = Price × units sold= $15× 1000× 30 = $450,000
1
Explicit cost = $150,00
Accounting profit = $450,000- 150,000 = $300,000
Accounting profit=$300,000
Note we ignore the amount she could have earned because it is an implicit cost
All improved, modified, or original products are classified as NEW PRODUCTS.
Product is improved when gaps were found in it as the gaps are introduced they are termed to resolve it this resolving will help the producer to re-introduce his/her product from the start this product is now classified as to the new product category.
Same like this modification process goes through and developed into a brand new brand or product ad same and we know if any product didn't find a mistake again this product is indeed a new product so all the respective categories are called new products.
For more questions related to product and classification visit the link below:
brainly.com/question/15054807
#SPJ4