Marilyn opens an insurance brokerage. Which of the following is an example of her implicit cost? Rental payment for her office. The salary she pays her office assistant. The office supplies she buys. The opportunity cost of the leisure time she gives up.
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- A fast-food company spends millions of dollars to develop and promote a new hamburger on its menu only to find that consumers won't buy it because they don& like the taste. From an economic perspective, the company should keep the hamburger on the menu because they spent so much money and time developing and promoting the product. spend more money to develop a more efficient way to cook the hamburger so it cooks in a shorter time. pull the hamburger off the menu and treat the development and promotion expenditures as a sunk cost. keep trying to sell the hamburger so that people who developed and promote it have a job with the company.Everyone shops for things they need for themselves and for gifts for others. Imagine you are taking an online class and you are looking to buy a new computer because your old one died. Class starts in two days. The market for computers is very competitive. There are several brands that have similar characteristics such as storage capacity, processor speed, number of USB ports, etc. but you have owned one that you liked and you want to buy that same brand, the X-Mark. You have a budget of $1,000. One popular store has the brand you like on sale for $850 because other stores are selling them for that price. You have a friend at that store who tells you that the store paid $700 for that computer. Please evaluate and explain the willingness to pay, consumer surplus, demand, producer surplus, cost and willingness to sell of this transaction. Define these terms in your explanation, not as separate definitions. Incorporate the meaning into your narrative so that you write a convincing…Entrepreneur's potential earnings as a salaried worker = $40,000 Annual lease on building = $25,000 Annual revenue from operations = $420,000 Payments to workers = $150,000 Utilities (electricity, water, disposal) costs = $8,000 Value of entrepreneur's talent in the next best entrepreneurial activity = $80,000 Entrepreneur's forgone interest on personal funds used to finance the business = $6,000 Creamy Crisp Donut Company Multiple Choice has lower explicit costs, than implicit costs. is earning a normal profit but not an economic profit. is earning an economic profit. is suffering an economic loss, when implicit costs are considered.
- Productive efficiency is achieved at minimum average cost, while allocative efficiency occurs when P=MC. Apply this fact to the question. Use diagrams to motivate your answer.Everything U Want Stores is trying to decide whether to keep or drop the hardware department in its megastore. If the department is dropped, the manager will be fired. The manager's salary, in relation to the decision to keep or drop the department, is Group of answer choices sunk and therefore not relevant an opportunity cost and therefore not relevant avoidable and therefore relevant the same for both alternatives and therefore not relevantSolve all this question ........you will not solve all questions then i will give you down upvote......
- Solve all this question......you will not solve all questions then I will give you down upvote........What occurs when the cost of producing a range of products is lower than the cost of producing each product individuallyThe following is cost information for the Creamy Crisp Donut Company. Entrepreneur's potential earnings as a salaried worker = $55,000 Annual lease on building = $23,000 Annual revenue from operations = $320,000 Payments to workers = $130,000 Utilities (electricity, water, disposal) costs = $8,000 Value of entrepreneur's talent in the next best entrepreneurial activity = $80,000 Entrepreneur's forgone interest on personal funds used to finance the business = $6,000 Creamy Crisp Donut Company Multiple Choice has lower explicit costs, than implicit costs. is earning a normal profit but not an economic profit. is earning an economic profit. is suffering an economic loss, when implicit costs are considered.
- A semiprofessional baseball team near your town plays two home games each month at the local baseball park. The team splits the concessions 50/50 with the city but keeps all the revenue from ticket sales. The city charges the team $100 each month for the three-month season. The team pays the players and manager a total of $1000 each month. The team charges $10 for each ticket, and the average customer spends $8 at the concession stand. Attendance averages 30 people at each home game. 1st attempt Part 1 The team earns an average of $ in revenue for each game and $ of revenue each season.With total costs of $ each season, the team finishes the season with $ of profit. Part 2 In order to break even, the team needs to sell tickets for each game. Round to the nearest whole number. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.Please explain why customer research should be done. Give at least two examples for different types of research A famous companty TESLA has conducted with referenceTrading at the equality of price and the minimum total average cost indicates that the company is using: 1. The most efficient technology 2. Economic efficiency 3. Allocative efficiency 4. Productive efficiency