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Andreyy89
4 years ago
14

Jim and Lisa own a dog-grooming business in Champlain, New York, called JL Groomers. There are many buyers and many sellers in t

he dog-grooming service market. JL Groomers experiences normal cost curves, with the marginal cost (MC) curve minimized at $14 and crosses the average total cost (ATC) curve at $22. JL Groomers will make zero economic profits if the market price is:
Business
1 answer:
Ganezh [65]4 years ago
6 0

Answer:

$22

Explanation:

JL Groomers will maximize its accounting profit while taking to 0 its economic profits when the marginal revenue = marginal costs.

Economic profits are not the same as accounting profits, since they include the opportunity costs of investing the money somewhere else. That is why in the long run firms are not able to make economic profits since as long as they exist, new competitors will enter the market. But on the short run, firms are able to make economic profit, but by doing so, they will not be maximizing their accounting profit.

Economic profit = accounting profit - opportunity costs

Opportunity costs are the extra costs associated or benefits lost from choosing one activity or investment over another one.

You might be interested in
Supply chain management involves managing: A. managing the stock room supply only. B. the flow of raw materials to inventory onl
aliya0001 [1]

Answer:

Option D is correct because supply chain management is the management of the processes and resources required that flow from the suppliers to the end to the final customer. This also includes the management of stock rooms, raw materials, inventory and internal information as well.

5 0
3 years ago
Read 2 more answers
Neon Light Company of Kansas City ships lamps and lighting appliances throughout the country. Ms. Neon has determined that throu
FromTheMoon [43]

Answer:

A. $7,275,000

B. $436,500

C. YES

Explanation:

A. Calculation for how many dollars will the cash management system free up

First step is to calculate for Additional collections

Using this formula

Additional collections=Daily collections× Numbers of days to speed up

Let plug in the formula

Additional collections= $2,250,000 million per day × 3 days speed up

Additional collections=$6,750,000

Second step is to calculate for delayed disbursements using this formula

Delayed disbursements= Daily disbursement × Numbers of Days for slow down

Let plug in the formula

Delayed disbursements= $1,050,000 million per day ×0.5

Delayed disbursements= 525,000

Last step is to calculate for the freed up fund using this formula

Freed up fund=Additional collections+Delayed disbursements

Let plug in the formula

Freed up fund=$6,750,000 + 525,000

Freed up fund=$7,275,000

Therefore the amount of dollars that the cash management system will free up is $7,275,000

B. Calculation for how much will the income be using this formula

Income =Freed up fund× Interest rate

Let plug in the formula

Income=$7,275,000×6%

Income=$436,500

Therefore the income amount will be $436,500

C. YES it should be implemented reason be that the income amount of $436,500 is $36,500 ($435,600- $400,000) higher than New system total cost of the amount of $400,000

3 0
3 years ago
Consider the relative liquidity of the following assets:
motikmotik

Answer:

Liquidity of an asset refers to how easily convertible the asset is to cash or so called liquid money.

Most Liquid - A $5 bill

This is already cash so it is the most liquid there is.

Second-Most Liquid  - The funds in a money market account

Funds in a money market account are the second most liquid because most often they can simply be withdrawn from the fund. There might be limits on the number of withdrawals allowed though within a period.

Third-Most Liquid  -  A share in a publicly traded company

A share in a publicly trade company ranks here because to realize the cash, one would need to sell the share first.

Least Liquid - Your house

Your house will be the most difficult of these to liquidate as it will involve a much longer process to eventually get it sold and realize cash. The process will include but will not be limited to, advertising, hiring realtors, inspection etc.

7 0
3 years ago
What is the term for a more complex production strategy that combines approaches from more than one basic strategy?
VARVARA [1.3K]
On Harvard Business News it explained this connection on strategic management, it links all the strategies and complexities in the business. Because of the diversity and continuous change in business schemes and application, there is a need to merge everything and all the phases that occurred in the business. The aim of strategic management is to simplify everything and make it individualized and cater the clients on the services or products it has.
7 0
3 years ago
ech Gadgets Co. distributes complex and relatively expensive goods, with customers typically requiring assistance before purchas
ch4aika [34]

Answer:

Intensive

Explanation:

Because the goods are expensive, and complex and requires pre-purchase assistance, the channels for this product has to be very intensive as there would be continuous purchasing as well as assistance request for the product. This simply means that service delivery and channels are to be manned intensively to meet the needs of the customers.

I hope this helps.

6 0
4 years ago
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