Explain briefly how you can be an entrepreneur and not merely a businessperson.

Q: economic profit serves as a beacon to entrepreneurs.  This means

A: Q1 it is true, economic profits serves as beacon to entrepreneur  If there is positive profit then…

Q: 2.6 Isabel runs her family's small pineapple processing plant, which takes fresh pineapples and cuts…

A: Cost of processing per pineapple Cost of processing total pineapple Machine maintenance per day…

Q: Explain Homogeneous products and give more examples

A: Homogenous product: Homogenous products or homogenous goods are those goods that are similar in…

Q: How do the concepts of accounting profit and economic profit differ? Why is economic profit smaller…

A: Firms earn revenue with the help of the sale of the products that it produces. On the other hand, it…

Q: During the recent auto sales slump, GM, Ford, and Chrysler decided it was cheaper to sell cars to…

A: The article mentions anout selling cars at a loss. It is referring to economic cost.

Q: Explain what is economic profit. Provide an example to support your answers Why do different…

A: Free markets are those markets in which the prices and quantity are decided through the equilibrium…

Q: What are Positive Economic Profits?

A: For understanding the meaning of positive economic profit, we will first look into the concept of…

Q: Looking at family business, integrate the knowledge you learn to analyze TWO challenges that the…

A: We are supposed to do the 1 question at a time please send the other question for answers.…

Q: PHYSICAL RESOURCES REFER TO BRANDS, PATENTS, AND COPYRIGHTS. a. True b. False

A: Physical tangible assets are physical assets that are used in the day-to-day operations of a…

Q: What is the difference between Economic Profit and Accounting profit?

A: Explicit Cost is the cost paid to factors of production that are hired from outsiders. Implicit Cost…

Q: Briefly describe the flow of costs in a manufacturing company?

A: Cost flow refers to how or the direction by which costs pass through a organization. Usually, the…

Q: MC ATC AVC AFC 40 70 80 90 Quantity Costs

A: Diminishing returns begin where MC curve starts rising or MP curve starts to fall. Most productive…

Q: Although Goldman Sachs paid Heather $100,000.00 per year, she was not satisfied with her job. She…

A: Given:- Amount Heather get from her job= $100000 per yearAmount she borrowed from bank=…

Q: Question: Looking at the average total cost data, at what level of output does the diminishing…

A: The spreading effect is the effect which the increasing output has on the average total cost. As the…

Q: Although Goldman Sachs pald Heather $110,000.00 per year, she was not satisfied with her job. She…

A: Here we calculate the accounting and economic profit by using the given information , so the…

Q: Briefly explain the short run fixed costs and the variable cost in modern economics?

A: Short-run is the time period that is less than or equal to a year. The costs can be divided into two…

Q: How do you measure efficiency and rate of return? Show me by explaining the ratios used in this…

A: Return on investment (ROI) and rate of return (ROR): The rate of investment is a measure that is…

Q: Kelly is a clerk and she earns $80,000 per annum. She thinks her salary is too low and decides to…

A: Accounting profit takes into consideration only out of pocket expense as the cost but the economic…

Q: INSTRUCTION: Give one example of a technopreneur, describe his/her business, and then explain what…

A: According to their areas of interest, different sorts of entrepreneurs operate their firms in…

Q: What impact do sewing robots have on capital per worker and human capital per worker? What impact…

A: Sewing robot is one type of robot they are  perform task automatically .Other robot are mostly…

Q: Your uncle is thinking about to open a fish & chips restaurant. He estimated that it would cost…

A: In economics, explicit cost is the direct cost of choosing an alternative and make expenditure on…

Q: When we know that the firms are earning just normal profits.

A: To find : When do firm earn normal profit.

Q: What specific data must a firm examine to decide the quantity of product it should produce to make…

A: The total cost incurred by a firm operating in a market includes fixed costs and variable costs.…

Q: Based on your chosen business idea, develop a business model for your business by using the…

A: Business Introduction: Hey thanks for stopping by! I am enterpreneur, an artist and a manager in a…

Q: Explain how businesses could overcome the limitations of ‘traditional solutions’.

A: Changes in customer needs, business communication and also the increasing amount of presidency…

Q: The 1920s business boom was most impacted by the Ford Touring Roadster, the world's first…

A: The 1920's business boom Many middle-class Americans, experienced the 1920s decade with…

Q: What is a cross-functional business process? Give one example of a cross-functional business…

A: Meaning of Cross-Functional Business Process: The term cross-functional business process refers to…

Q: Legendary for his business and investment acumen, Warren Buffett is frequently called the “Oracle of…

A: Elaborating the statement of the buffet, A producer operating at a higher cost cannot sustain itself…

Q: which of the fallowing is the most accurate statement about the

A: The impact of business in society is gives more opportunities like employment generation ,…

Q: What is the difference between economic profit and accounting profit?

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…

Q: Do you think the computer software industry (or other similar industries in gaming, cell phones,…

A: The computer software industry (or other similar industries in gaming, cell phone etc.) is likely to…

Q: what is the company business model o What is the revenue model? Give a general idea of how the…

A: Economics is the study of the efficient allocation of resources. Since humans have unlimited wants,…

Q: Discuss how technological change can increase profits by raising revenues or lowering costs.

A: Answer - The technological change can increase profits by rising revneus or lowering costs:- 1.…

Q: Businesses operate in the short run, but do they ever operate in the long run?  Explain

A: In the field of economics, it is assumed that firms work towards achieving their objective of…

Q: A student once said she 'didn't believe in sunk costs. She meant that the idea that 'some costs are…

A: Sunk cost refers to the costs that has been paid already and cannot be recovered. That means it is…

Q: How does profit motive affect innovation and economic productivity?

A: Profit motive: The benefit rationale is the inspiration of firms that work to amplify their…

Q: You own a company that produces widgets. You currently produce 100 widgets; each widget sells for…

A: Macroeconomics and microeconomics are important part of country mechanism. Aggregate demand and…

Q: explains why business should be ethical and why not all businesses are ethical.

A: Business Ethics:  By definition, business ethics allude to the norms for ethically good and bad…

Q: In one paragraph, concisely explain the historical connection between evolutionary biology and long…

A: Evolutionary economics influences both mainstream economics and a heterodox school of economic…

Q: Economic profit is:

A: Economists and Accountants measure profit differently.

Q: 4. Which of the following industries do you think are likely to exhibit large economies of scale?…

A: “Since you have posted a question with multiple sub-parts, we will solve the first three subparts…

Q: In a paragraph with a maximum of three sentences, explain the difference between an ordinary…

A: Business: The term business refers to an organization which has element occupied with business, or…