The economic profit is $320,000-$250,000=$70,000.
Economic earnings or loss is the distinction between the sales received from the sale of an output and the costs of all inputs used, as well as any opportunity prices. In calculating financial income, opportunity charges and explicit costs are deducted from revenues earned.
Income is the financial metric that suggests an entity's economic advantage or sales from any enterprise or funding interest. monetary profit is cash earned after taking explicit and implicit costs into account.
Profit is the financial metric that shows an entity's financial advantage or sales from any commercial enterprise or investment pastime. economic earnings are cash earned after taking explicit and implicit prices into consideration.
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Answer:
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If the sellers pay the majority of the tax, then the supply is more inelastic than demand.
If something is inelastic it is not sensitive to changes in the price or income of someone. The sellers will always have more of the tax burden when supply is more inelastic than demand and vis versa when demand is more inelastic than supply.
Answer:
The correct answer is (D) it has appreciated in terms of other currencies.
Explanation:
Currency appreciation is the increase in the value of a country's currency with respect to one or more foreign reference currencies, which normally occurs in a floating exchange system.
The reasons that can make a currency or currency appreciate are diverse and usually related to a high demand for it. For example, the consideration of a currency as a low risk of depreciation or a very high level of exports of a country (the demand for the currency to pay for exports will increase) are causes that give rise to the appreciation of a currency.
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