Answer:
Accounting profit - Your actual profit
Economic profit - Profit, but opportunity cost factored out
Explanation:
Accounting profit is how much you made (Revenue - Explicit Cost.
Economic profit includes implicit costs, or opportunity cost. If you could have made $100,000 at a different job, you subtract that. If Accounting-Economic profit is 0 or higher, you should stay in business.
Managers often use a(n) utilitarian approach when making organizational decisions - using financial performance such as profit as the best definition of what constitutes an ethical choice for the company.
<u>Explanation:</u>
When decisions are taken by taking benefits and the costs that are associated with stakeholders into consideration is an utilitarian approach. The main thing that is considered in this approach for taking any decision is consideration of the outcome and net result of the action that is to be taken.
It aims in taking an action that has greater good for many number of people and less harm for lesser number of people. It considers both the people who gets benefits and those people who suffer from the decision. It mainly focus on choosing an alternate that is more ethical and produces a good balancing of benefits than harm.
Answer:
what do you mean did our scores improve, if so, idk yet
Answer:
The correct answer is: price elastic; increase.
Explanation:
The price elasticity of demand for apples is 1.2.
This implies that the demand relatively prices elastic.
Elastic demand means that a proportionate change in the price of apples will cause more than proportionate change in the quantity demanded.
A decrease in the price of apples will cause its quantity demanded to increase by more than proportionate. This will cause total revenue to increase.
