How does international trade impact economic growth within a trading nation?.

Lisa quit her $20000-per-year job to start her own economics consulting firm. At the end of her first year of operation, her tot

Illusion [34]

Answer:

Economic profit for the year is

Explanation:

The accounting profit will be Revenue - expenses (150,000-35,000) $ 115,000. However this problem requires us to calculate economic profit. Economic profit is different from accounting profit. While calculating it opportunity costs also become part of expenses as implicit costs. Detail calculation is given below.

Economic profit = 150,000 -35,000-20,000 = $ 95,000

7 0

3 years ago

A customer, concerned about a possible pull-back in XYZ stock, instructs her broker to "Sell my XYZ stock if it falls to 40, but

Marat540 [252]

Answer:

c. sell stop limit order.

Explanation:

In this case, a stop order would be issued by a client that instructs his/her broker to sell the stock if the price falls below $40.

But this is a stop limit order because the client has instructed specifically that he/she will not accept a stock price lower than $39.75. A stop limit order sets an specific price limit that the customer will be willing to accept.

8 0

4 years ago

In its first month of operation, Sheffield Corp. purchased 230 units of inventory for $9, then 330 units for $10, and finally 27

Llana [10]

Answer:

If the company uses FIFO, the gross income will increase by $500.

Explanation:

Giving the following information:

Purchases:

230 units of inventory for $9

330 units for $10

270 units for $11

At the end of the month, 310 units remained.

The difference in gross profit is in the cost of goods sold. First, we will determine the number of units sold:

Units sold= total units - ending inventory

Units sold= 830 - 310

Units sold= 520

The FIFO method uses the cost of the firsts units incorporated into inventory. The LIFO method uses the cost of the lasts units incorporated into inventory.

FIFO:

COGS= 230*9 + 290*10= $4,970

LIFO:

COGS= 270*11 + 250*10= $5,470

Difference= 5,470 - 4,970= $500

If the company uses FIFO, the gross income will increase by $500.

6 0

3 years ago

According to your text, in the broadest terms, the "marketplace" refers to:_________

OLga [1]

Answer:

A. The World of trade

Explanation:

The marketplace is an economic system where companies compete with each other in order to sell their products. It is a place where trade occurs. In the broadest terms, a marketplace is the world of trade where buying of goods and services takes place.

8 0

4 years ago

Consider the market for plastic deck chairs. Suppose many families go on a barbecue binge and buy new barbecue grills to use out

rusak2 [61]

Answer:

I think it might be c

Explanation:

the demand is higher giving the company more money to upgrade the product

4 0

3 years ago