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2 years ago

Explain and give an example the difference between an explicit cost and an implicit cost.

Business

1 answer:

Amanda [17]2 years ago

7 0

Answer:

Explicit costs are out-of-pocket costs for a firm

for example, payments for wages and salaries, rent, or materials. Implicit costs are the opportunity cost of resources already owned by the firm and used in business

for example, expanding a factory onto land already owned.

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In the case of dormant cracks wider than about 1m, it is more economical to use ____________

Bad White [126]

Answer:

B. Grouting

Explanation:

These are the options for the question;

A. Epoxy resin

B. Grouting

C. Tensioning

D. Ranging

In the case of dormant cracks wider than about 1m, it is more economical to use grouting method.

Grouting techniques is a techniques that is achieved by removal of dirt or unwanted substance from the crack of the the faulty part and then grouting of the crack after which the surface is sealed by sealants. It should be noted that grouting is economical than other methods such as surface treatment.

8 0

3 years ago

Crane Company on January 1, 2018, granted stock options for 63000 shares of its $10 par value common stock to its key employees.

attashe74 [19]

The amount of compensation expense Crane should record for 2017 under the fair value method is $207000

<u>Solution:</u>

From the given,

Stock options for 63000 shares

$10 par value common stock

$25 per share and the option price was $20

Total compensation expense = $627000

On calculating we get,

$\Rightarrow\frac{627000}{3}= \$207,000$

We can conclude that there is $207,000 decrease. Therefore, the correct answer is option c.

3 0

3 years ago

Income elasticity of demand is

coldgirl [10]

Answer: Option (a) is correct.

Explanation:

Income elasticity of demand measures the responsiveness of quantity demanded with change in the income level of an individual.

$Income\ elasticity\ of\ demand=\frac{percentage\ in\ quantity\ demanded}{percentage\ change\ in\ income}$

Income of an individual has a positive relationship with the demand for normal goods and has a negative relationship with the demand for inferior goods.

3 0

3 years ago

Read 2 more answers

A stadium incurs a number of costs to accommodate fans. If a stadium pays $16,000 for labor, $55,000 for leasing parking space,

MatroZZZ [7]

Answer:

12. 21 % ; 41.98 % and 45.80 % as below

Explanation:

Total cost for the stadium is

labor $ $16,000

leasing the parking fee $55,000

Busing to and from $60,000

Total cost $131,000

Percentage per item

1. labor = 16000/131000 x 100

=12.21 percent

2.leasing parking space= 55000/131000 x 100

=41. 98 percent

3.Parking space= 60,000/131000x100

=45.80 percent

5 0

3 years ago

Soon after Jeff was hired as a company accountant, his company developed corporate programs to help improve self-confidence and

krek1111 [17]

Answer:

True (early 1980s)

Explanation:

5 0

3 years ago