Answer:
As the variable cost increased by $2.10 per book so if publisher wants to start making profit at same level of production then it should increase the selling price of the book by $2.10. As the increase in cost and selling price will be same so the publisher will also start making profit at same production level.
Answer: Option B
Explanation:
A. Explicit cost are the cost paid to others in return of their service. Hence Option A is incorrect.
B. Revenue is the total amount of earnings a company have before deducting for expenses. Hence Option B is correct.
C. Accounting profit means (Revenue - explicit cost) . Hence Option C is incorrect.
D. Economic profit means (Revenue - explicit cost - implicit cost) . Hence Option D is incorrect.
Answer:
$289000
Explanation:
Effective Gross Income (EGI): Effective Gross Income is calculated by deducting the Vacancy and collection (V&C) loss from Gross Potential Income (GPI).
First year gross potential income (PGI) is $340,000
Vacancy and collection (V&C) loss is 15% of gross potential income
Therefore, (V&C) allowance = [$340,000 15%]
= $51,000
Calculate Effective Gross Income (EGI) for the first year of operations:
Item
Amount
Potential gross income (PGI)
$340,000
Less: V&C allowance (at 15% of PGI)
($51,000)
Effective Gross Income ( EGI )
$289,000
Hence the EGI is $289,000
Jim Moon has a very assertive personality His relationship with the Rhode Island bank has fetched him a positive outcome when there is a financial crisis
It is likely that the increase in the price of hamburgers is related to the fact that demand is greater than supply.
<h3 /><h3>What is the law of supply and demand?</h3>
It is an economic approach to understanding the economic factors that influence the quantity of a product supplied in a market and its price.
Therefore, when there is more demand than supply for a good available in the economy, it means a situation of scarcity, which makes prices rise.
Find out more about law of supply here:
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