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castortr0y [4]
3 years ago
5

Ernesto owns a house painting company. Total sales for the past year were $75,000. His bills for running the business were $30,0

00. Stan, who owns a furniture-making company, previously asked Ernesto to come work for him at a salary of $40,000. Ernesto's accounting profit is______ and his economic profit is ________$
Business
1 answer:
pentagon [3]3 years ago
7 0

Answer:

Accounting profit = $45,000

Economic profit = $5,000

Explanation:

The computation of accounting profit and economic profit is shown below:-

Accounting profit = Sales - External expenses

= $75,000 - $30,000

= $45,000

Economic profit = Accounting profit - Implicit cost

= $45,000 - $40,000

= $5,000

Therefore for computing the accounting profit and economic profit we simply applied the above formula so that each one could arrive

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Which of the following is not correct? a. The consumer price index gives economists a way of turning dollar figures into meaning
Marina CMI [18]

Answer:

The consumer price index is used to measure the quantity of goods and services that the economy is producing.

Explanation:

CPI  or consumer price index is a measure of changes in the average prices of a basket of products and services in a given time. The selected goods and services are a fair representation of consumption expenditure in the economy. Economists use the CPI as a Macroeconomic indicator of inflation.

As a measure of inflation, the CPI statistics communicate increases or decreases in the prices of goods and services in the economy. It forms a basis for policy decisions by the government that aid in the prevention of reduced purchasing power of the dollar.  CPI is all about changes in prices and nothing to do with the production of goods and services.

5 0
3 years ago
You are a rising star in the purchasing department at your company and you have recently been promoted to manager for business s
aalyn [17]

Answer:

E.

Explanation:

Based on the information provided within the question it can be said that you will be purchasing janitorial services. This is because from the description of your job tasks, you handle purchases of services. That being said the only service available to choose from the answers provided are janitorial services. Therefore it is the only option that falls into your job responsibilities.

3 0
3 years ago
Copper Corporation, a calendar year C corporation, owns stock in Bronze Corporation and has net operating income of $900,000 for
UNO [17]

Answer: $150,000

Explanation:

The Dividend Received Deduction is a Federal tax deduction that applies when a related company pays dividends to another company that owns part of it.

The relevant provision is that when a company owns more than 80% of the company receiving the Dividend, the Dividend Received Deduction amounts to 100% of dividends received.

Cooper Corporation may therefore claim a deduction of $150,000 being the total amount as they own 85% of Broze Corporation Stock.

7 0
2 years ago
Read 2 more answers
Producer surplus is:
Elena L [17]

Answer: Option (d) is correct.

Explanation:

Producer surplus is associated with the producer of a good. Graphically, producer surplus is the area between the upper portion of supply curve and equilibrium price level. Producer surplus is also defined as the difference between the price at which sellers are willing supply and the actual price they received.

Producers surplus = Price paid by buyers - Cost of production

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2 years ago
Suppose investor 1 and investor 2 each has $100 wealth to invest in the two risky assets and the risk-free asset, and suppose th
Lilit [14]

Answer:

Explanation: hey, do your best i think you can do good

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2 years ago
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