1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Zina [86]
3 years ago
11

An web designer quits a project where she was paid $50,000 on completion of the project. She joins a new company with sales reve

nues of $550,000 last year, while spending $250,000 on compensation for employees (excluding the owner), $70,000 on capital, and $30,000 on materials. What was the firm’s economic profit?
Business
1 answer:
shutvik [7]3 years ago
4 0

Answer:

$150,000

Explanation:

Economic profit is accounting profit less implicit cost or opportunity cost.

Accounting profit = Total revenue - Total cost

Economic profit = Total revenue - Total cost - Opportunity cost

Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives. The opoortunty cost of the web designer is $50,000.

Revenue is $550,000

Total cost = $250,000 + $30,000 + $70,000 = $350,000

Economic profit = 550,000 - $350,000 - $50,000 = $150,000

I hope my answer helps you

You might be interested in
Allison spends a lot of time socializing with friends on facebook, downloading movies, and completing schoolwork. but her older
notsponge [240]
I would think it would be yes I think
8 0
3 years ago
Andermeyer Jewelers, which specializes in high-end jewelry, has been in existence since the 1870s and has served generations of
TiliK225 [7]

Answer:

A is the correct answer

Explanation:

Most small businesses use a simple organizational structure. In this, decision making is centralized with the owner. It doesn't have any formal departments and layers. There are both advantages and disadvantages of running the company with this structure. It enables the owner to keep tight control over the company's operation. No decisions can be made without the owner's approval and the owners of aware of every decision made. These companies make decisions quickly as there are no layers of management where the request needs to climb before approval.

6 0
3 years ago
Which of the following statements is​ true?
pashok25 [27]

Answer:

D. None of the above.

Explanation:

When there's a change in demand, the demand curve shifts and only quantity demanded changes- it either increases or reduces but price doesn't change. A change in demand is caused by factors that affect a consumer's demand for a good other than the price of the commodity.

Some of the factors that cause a change in demand include:

1. Change in income

2. Change in taste

3. Season

When there's a change in supply, the supply curve shifts and quantity supplied changes but there's no change in price. Change in supply is caused by other factors that affect supply other than price.

8 0
3 years ago
The period of time before writing was used is called
Greeley [361]
 There are no answer choices so i am going to answer it based on my knowledge of the subject,  prehistory. 
5 0
3 years ago
The principle that allows you to perceive an orange shirt to be the same color under varying lighting conditions is known as:
katrin2010 [14]
<span>This is color constancy. With this ability, a person can perceive and understand that a color exists under various external conditions, usually lighting or other types of distortion. It is thought to be due to specialized neurons in the primary visual cortex that allow us to make these declarations.</span>
3 0
3 years ago
Other questions:
  • On October 10, the stockholders’ equity of Sherman Systems appears as follows. Common stock–$10 par value, 77,000 shares authori
    7·1 answer
  • POINTS OMG OMG 32 POINTS!!!! HELP QUICK FOR BRAINLIEST (ECONOMICS)
    11·1 answer
  • Suppose you are the owner of a small t-shirt printing business. while conducting a cost analysis of your business, you find that
    10·1 answer
  • Within the context of Jennifer Aaker's analysis, identify the brand personality that can be associated with a new product whose
    14·1 answer
  • A property owner agrees to pay a broker an open-ended commission as the difference between the sale price and a net amount, prov
    8·1 answer
  • The difference between Karson's behavior at the end of the 12 weeks versus the promise to cure Karson of ADHD can be described a
    13·1 answer
  • If logan said he won the fight.<br> KSI fans:lets check his monthly spotify listeners
    6·1 answer
  • 1.XYZ company had a total profit of $500,000. XYZ's expenses were $200,000. What is the net profit for XYZ company?
    11·1 answer
  • A jewelry manufacturer incurred the following costs: 15,000 units produced with costs of $557,500, and 5,000 units produced with
    12·1 answer
  • Where is Nova City Islamabad located? Also is it under progress or has the development been completed?
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!