(Alternative Measures of Profit) Calculate the accounting profit or loss as well as the economic profit or loss in each of the following situations:
a. A firm with total revenues of $150 million, explicit cost of $90 million, and implicit costs of $40 million
b. A firm with total revenues of $125 million, explicit cost of $100 million, and implicit costs of $30 million
c. A firm with total revenues of $100 million, explicit cost of $90 million, and implicit costs of $20 million
d. A firm with total revenues of $250,000, explicit cost of $275,000, and implicit costs of $50,000
For example in this problem:
The student council ordered 350 flowers to sell at school. The carnations cost $0.75 each and the roses cost $1.25 each. There are four times as many carnations as there are roses. If the sales tax rate is 7.75%, how much money did the student council collect.
Ok so in that do I add the sales tax to the total or subtract it away?
I’m taking a wacky economics class and I’m really confused by one of the questions from the assignment the teacher gave. Can anyone help me?
Using an illustration explain how a firm might be:
a. Earning an accounting profit and zero economic profit
b. Earning an accounting profit and an economic profit
c. Earning an accounting profit and an economic loss
d. Be sure to explain in each case what will happen to the number of firms in the market place and why it will happen
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Superman
S I’m stucked on these questions!!! i was thinking about B C D. I’m only in highschool.?
1Defensive medicine:
a. solves the moral hazard problem.
b. increases the demand for health care.
c. solves the principal-agent problem.
d. is the same as preventive medicine
2 The equality-efficiency tradeoff refers to:
a. the conflict between risk averters and risk takers.
b. the willingness of Congress to abandon existing welfare programs in favor of a comprehensive plan to increase education and training for low-income persons.
c. possible conflicts between the goals of economic efficiency and greater income equality.
d. the difference between the goals of income equality and equality of economic opportunity.
3 Sam decides to join the Gigantic State University’s rugby team when he learns that his health insurance will pay for any subsequent injury. This illustrates:
a. the diagnosis-related-group system.
b. a “pay or play” system.
c. the moral hazard problem.
d. the Coase theorem.
money.co.uk
1Defensive medicine:
a. solves the moral hazard problem.
b. increases the demand for health care.
c. solves the principal-agent problem.
d. is the same as preventive medicine
2 The equality-efficiency tradeoff refers to:
a. the conflict between risk averters and risk takers.
b. the willingness of Congress to abandon existing welfare programs in favor of a comprehensive plan to increase education and training for low-income persons.
c. possible conflicts between the goals of economic efficiency and greater income equality.
d. the difference between the goals of income equality and equality of economic opportunity.
3 Sam decides to join the Gigantic State University’s rugby team when he learns that his health insurance will pay for any subsequent injury. This illustrates:
a. the diagnosis-related-group system.
b. a “pay or play” system.
c. the moral hazard problem.
Liberals believe that believe in having the government help those who are less fortunate with more force and more government involvement greater opportunity and equality will be fashioned. Liberals hold the belief that things should be fair such as higher taxes for higher income, the rich should help the poor. Liberals want the government to step in and help the people. They believe the vast majority on welfare really need the help and want to get off welfare as soon as possible.
If you can think of anything to add to this let me know. I’m having trouble getting all of my ideas together.
fantastic money