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vazorg [7]
3 years ago
13

g Mark quit his job as a salesman where he made $43,000 per year to start his own t-shirt making business. His business expenses

are $6,000 per year on rent, $12,000 per year on supplies, and $4,000 per year on part- time help. As for his personal expenses, his apartment costs him $4,800 per year and his personal bills are an extra $1,200 per year. What is Mark's opportunity cost of running the business
Business
1 answer:
SVEN [57.7K]3 years ago
7 0

Answer:

$43,000

Explanation:

Implicit cost or opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives

by starting his business, he forgoes the opportunity to earn 43k

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. A building owner charges net rent of $20 in the first year, $21 in the second year, and $22 in the third year, but is providin
Anit [1.1K]

Answer: $17.28

Explanation:

6 month free concession in first year drops rent to:

= 20 / 2

= $10

Effective rent = [Present value of Year 1 rent + Present value of Year 2 rent + Present value of Year 3 rent ] / [ 1 - (1 / (1 + rate)^ number of years) / rate]

= [(10 / (1 + 10%) ) + (21 / (1 + 10%)²) + (22 / (1 + 10%)³)] * [1 - (1 / (1 + 10%)³/ 10%)]

= (9.09 + 17.355 + 16.5289) / 2.48685

= $17.28

8 0
2 years ago
Builder and Owner agree that Builder will erect a fence for Owner for $1,500. Builder claims that the fence is taking longer tha
artcher [175]

Answer:

Owner owes Builder : B. $2,000.

Explanation:

A Liability is the present obligation of the entity, that arises as a result of past events, the settlement of which is expected to result in a cash outflow from the entity.

Initially, the Owners owes the Builder $,1500

For the fence to be completed on time, an addition of $500 was owed, upon the owner accepting this arrangement.

Thus, the total obligation owing to the Builder is $2,000.

3 0
2 years ago
Last year's asset turnover ratio was 2.0. Sales have increased by 25% and total assets have increased by 10% since that time. Wh
Dmitriy789 [7]

Answer: d. 2.27

Explanation:

Asset Turnover = Total sales / Average Assets

Last years turnover ratio was 2.0 so assume Sales were $20 and Assets were $10 which would give the turnover of 2.0

The new turnover would be;

= (20 * 1.25)/(10 * 1.1)

= 25/11

= 2.27

6 0
2 years ago
g The Federal Reserve can lower short-run output by Group of answer choices lowering the real interest rate. increasing the mone
Viktor [21]

Answer: Decreasing the money supply

Explanation:

When the Fed reduces money supply, it will remove the amount of excess money that people have to spend in the economy. This will lead to prices reducing because people no longer have a lot of money to spend on products therefore they will demand less goods. This will lead to the Aggregate demand curve shifting to the left. The new intersection with the Aggregate Supply curve will be at a point where prices will be lower and less quantity will be demanded which will signify a drop in the short-run output of the economy.

5 0
3 years ago
Faye’s bank charges her a $2.25 service fee every time she uses an out-of-network ATM. If Faye uses an out-of-network ATM twice
murzikaleks [220]

Answer:

d. $234.00

Explanation:

The computation of the service fees every year is shown below:

= Service fee × weekly charge method × total number of weeks in a year

= $2.25 × 2 × 52 weeks

= $234

Since we have to compute for the year so we multiplied all three above components. Moreover, it is given in the question that if Faye use out of network than the bank service charge will be double, so we multiplied it by 2

4 0
2 years ago
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