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MariettaO [177]
3 years ago
12

Corinne is offered a job with a salary of $70,000, which she turns down to start her own business. She uses $20,000 of her own s

avings to help start the business, savings that had been providing her a return of $1,000 per year. Over her first year in business, Corinne collects total revenue of $180,000 and must cover explicit costs of $105,000. During her first year in business, Corinne's accounting profit is _____, and her economic profit is _____.
Business
1 answer:
slamgirl [31]3 years ago
6 0

Answer:

Accounting profit $75,000

Economic profit $4,000

Explanation:

Calculation to determine the ACCOUNTING PROFIT

Using this formula

Accounting profit=Total revenue - Isxplicit costs

Let plug in the formula

Accounting profit=$180,000- $105,000

Accounting profit=$75,000

Calculation to determine the ECONOMIC PROFIT using this formula

Economic profit=Total revenue-Explicit costs of -Salary-Return per year

Let plug in the formula

Economic profit=$180,000-$105,00-$70,000-$1,000

Economic profit=$4,000

Therefore During her first year in business, Corinne's accounting profit is $75,000 and her economic profit is $4,000

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give ur mom the corona and then u cant stay in the house because anything could be infected

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Explanation:

6 0
3 years ago
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The margin of safety ratio is computed as actual sales divided by break-even sales. is used to determine the break-even point. i
max2010maxim [7]

Answer:

indicates what percent decline in sales could be sustained before the company would operate at a loss.

Explanation:

Since, Margin of safety ratio = Expected Sales - Break even sales

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The correct statement is : The margin of safety ratio indicates what percent decline in sales could be sustained before the company would operate at a loss.

8 0
3 years ago
Suppose that Rafay is only given 5 weeks​ (instead of ​) to complete the project. By how many weeks should each activity be cras
kiruha [24]

From the critical path that's given, the total crashing cost will be $530.

<h3>What is a critical path?</h3>

A critical path simply means the longest sequence of tasks that one will have to complete in order to complete a project.

In this case, from the information given, the critical path will be:

= 0 + $130 + $400

= $530

In conclusion, the correct option will be $530.

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brainly.com/question/10693558

8 0
2 years ago
In order to increase the capital stock, society must divert ______ that could be otherwise used to increase the supply of _____
mr_godi [17]

In order to increase the capital stock, society must divert resources that could be otherwise used to increase the supply of consumer goods.

Consumer goods:

  • Consumer and capital goods are the two main categories of products produced in the economy, and if capital stock has to rise, resources for capital goods must also rise, reducing the supply of consumer goods.
  • Customer goods are items that the typical consumer purchases for consumption. Consumer goods, also known as final goods, are the products of production and manufacture and are what shoppers will find placed on store shelves. Consumer goods include items like jewelry, clothing, and food.
  • Any tangible good produced and later purchased to satiate the buyer's present requirements and perceived wants is referred to as a consumer good in economics. Durable, nondurable, and services are the three subcategories of consumer products.
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3 0
2 years ago
1. Briefly describe laissez-faire economic policies in the Gilded Age.
pickupchik [31]

Answer:

1. The Gilded Age is referred to as the period between 1870 and the early 1900s. It was an era characterized by rapid industrialization, laissez-faire capitalism, and zero income tax. Capitalists resisted government intervention and Captains of industry like John D. Rockefeller and Andrew Carnegie made fortunes.

The government on the other hand began to seriously shape labor policies

The Laissez-Faire (which is derived from the french word let them be or let them do what they want) was a combination of free-market ideologies, limited government intervention, and social Darwinism.

The liberals also resisted the government's initiatives to made lives better for citizens. They believed that by intervening in the social condition of people, they (especially the African Americans) would not be able to attain their full economic potential which can only be done through competition

Another policy that they imbibed was one that promoted the ability of the individual and the business owner to freely enter into labor agreements

 

2. These liberal policies enabled businesses within that region to expand as entrepreneurs were able to take more risks and invest within the economy

It provided people with the greatest incentive for capitalists to create wealth. This is one of the reasons the economic boom happened.

3. One major similarity between the economic policies in the Jacksonian Era and those of the Gilded Age is that they both promoted liberal trade.

One major feature of the Jacksonian economy is that it triggered a high level of the inflationary boom between 1832 and 1837. This inflationary condition is said to be the fall out of mismanaged policies throughout the administration of President Andrew Jackson.

Cheers

7 0
3 years ago
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