The economic profit is calculated by,
Economic Profit = Total Revenue (TR) – ( Explicit Cost + Implicit Cost)
Total Revenue
Explicit Cost (Cost of land , Labor , capital) per acre = Machinery Ownership costs + Land Charge + overheads
Explicit Cost for 500 acres
Implicit Costs are not given
Economic Profit
Hence the economic profit is .
<h3>
Describe Economic Profit?</h3>
The difference between the revenue generated by the sale of an output and the prices of all inputs used, as well as all opportunity costs, is known as an economic profit. Possibility expenses and explicit costs are subtracted from earned revenues to establish economic profit. Economic profit is necessary because it helps examine an industry's financial and economic progress.
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<span>The annualized loss expectancy (ALE) is the product of the annual rate of occurrence (ARO) and the single loss expectancy (SLE).
The ARO is provided as 1% chance that a fire will occur per year. The SLE is provided as $2 million in damages. Thus the formula to calculate the ALE is:
ALE = 0.01 X $2,000000. The annualized loss expectancy is $20,000.</span>
It seems that you have missed the necessary options for us to answer this question, so I had to look for it, so here is the answer. <span>Consumer’s expectations of doing new things with varied kinds of information in ways that create value have resulted in the emergence of ON-DEMAND MARKETING. Hope this helps.</span>
Hey there,
Your question states: <span>To obtain your credit report, you should _____.
Your correct answer would be </span><span>write to the credit bureau.
Hope this helps.
~Jurgen</span>