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Calculate accounting profit given:-
Total revenue = $4500
Explicit cost = $4500
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- The sole proprietor of the bookstore receives all accounting profits earned by her firm and a $28,000-a-year salary she pays herself. She has a standing salary offer of $44,000 a year if she agrees to work for a large corporation. If she had invested her capital company, she estimates that would have returned $32,000 a year. Last year, her accounting profit was $60,000. What was her economic profit? (Show your steps)Anthony quit his job where he was earning an annual salary of $48,000 to open his own business. Annually, he will pay $18,000 for rent, $120,000 for wages, $36,000 for raw materials. If he receives annual revenue of $230,000, then his accounting profit will be _____ and his economic profit will be _____. a negative; negative b negative; positive c positive; negative d positive; positiveThe difference between economic profit and accounting profit is equal to: zero implicit and explicit costs. implicit and explicit revenues. implicit revenues minus implicit costs.
- The firm with total revenues of a 100 million explicit cost of 90 million and implicit cost of 20 million. Calculate the accounting profit or loss as well the economic profit or lossTotal Revenue is: Select one: a) Accounting profit+Accounting Costs b) Prixe * Quantity c) All of the options are correct d) None of the options are correct e) Explicit Cost+Implicit Cost+Economic ProfitsSuppose you run a small business in your building and you act also as a manager of your business. If you do not pay yourself a salary and rent of your building what effect will this practice have on the calculation of the firm’s accounting profit? Economic profit? Explain.
- derivative of the firm's profit function is F′(x) = −0.03x2 + 3x - 100, where x ≥ 0 is the output level. How should the company operate nowconnie turn down job offer with insurance company that would have her paid 70,000 per year to start her own photographic business she uses 20,000 of her own saving to help start the business savings that had been providing her a returnn of 1,000 per year. over her first year in business connie collect total revenue of 180,000 and must cover explicit cost of 105,000 during her first year in business connie 's accounting profit is and her economic profit is a.75,000 , -16,000 b.110,000; 4,000 c.110,000; -16,000 d. 75,000; 4,000
