If a firm's explicit costs are $2,000, its implicit costs are $1,000, and its revenue is $5,000, the firm is earning (2 points)
positive accounting profit of $2,000
negative accounting profit of $2,000
positive economic profit of $3,000
positive economic profit of $2,000
positive economic profit of $4,000

Answers

Answer 1

Answer:

The firm's total costs are $3,000 ($2,000 explicit costs + $1,000 implicit costs), and its revenue is $5,000. Therefore, the firm's accounting profit is $2,000 ($5,000 - $3,000). However, to calculate the economic profit, we need to subtract the opportunity cost of the resources used, including the implicit costs. Since the implicit costs are already included in the total costs, the economic profit is zero.

Therefore, the firm is earning a positive accounting profit of $2,000, but zero economic profit. The correct answer is "positive accounting profit of $2,000".


Related Questions

WHICH PART OF THE CHARTER DOES THIS GO AGAINST?
Read page 105
1) How does the inability to communicate go against the Charter?
2) What other groups might be affected by this decision?

Page 106
Do you agree or disagree with the Supreme Court decision? Explain why.

Page 107
1)How do we decide if the needs of society outweigh the rights of individuals?
2) How does the Charter affect these decisions?

Page 108
What do you believe the cartoonist thinks is more important, the Charter of Rights and Freedoms or the Anti-Terrorism Act?

Page 109
1) What possible problems arise from advertising to children?
2) How effectively would the Charter protect children?

Answers

The inability to communicate goes against the Charter of Rights and Freedoms in Canada because it violates several fundamental rights, including the right to freedom of expression, the right to receive and impart information, and the right to a fair trial.

What is the charter about?

The Charter of Rights and Freedoms guarantees every Canadian citizen the right to freedom of expression, which includes the right to express oneself in any manner or form without interference from the government. This includes the right to communicate in any language of one's choice. If someone is unable to communicate due to language barriers, it violates their freedom of expression and their right to communicate.

The right to receive and impart information is also protected by the Charter. This right allows Canadians to seek out information and ideas from any source and share them with others. When someone is unable to communicate because of language barriers, they are being deprived of this right.

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PLEASE HELP IT IS URGENT!!!! I NEED EXPLINATIONS AS WELL!!!!!!

1. In context, the second sentence of the fifteenth paragraph ("However, the agreement . . . legally binding”) (lines 59–60) serves as a transitional element that
A. reveals the author’s regrets about a proposed solution in the passage
B. acknowledges a weakness in the author’s line of reasoning in the passage

2.Which of the following choices accurately describes a strategic stylistic decision that the author makes in the seventeenth paragraph (lines 64–66)?
A.The coordinated clause provides a contrast to the previous paragraph and gives the same importance to the ability to remove large items and the inability to remove microplastic.
B. The words regretted and colossal, both of which have negative connotations, emphasize the flaws inherent in the plan to remove plastic from the ocean

3.Which of the following statements most directly expresses the author’s thesis in the passage?
A.To effect real change and clean up, countries need to take a deeper look at the ways they use plastics in everyday life.
B. A concerted international effort is needed to both remove the existing garbage patch and reduce plastic waste overall.

Answers

Answer:

The correct answer to question 1 is B. The correct answer to question 2 is A. The correct answer to question 3 is A. To effect real change and clean up, countries need to take a deeper look at the ways they use plastics in everyday life.

Excelsia is a firm in a perfectly competitive industry. At its profit-maximizing level of output, average total cost is not minimized and its variable cost is higher than its price. What will Excelsia decide to do? (2 points)
Operate in the short run but leave the market in the long run
Change output to meet the firm's average total cost minimum
Shut down in the short run
Increase price until the firm is earning normal profit
Decrease output until the firm is earning normal profit

Answers

When the variable cost exceeds the pricing, Excelsia makes the short-term decision to close.

What does it indicate if a company with perfect competition maximizes earnings right away?

A short-run perfectly competitive firm will select the profit maximization point where marginal cost equals marginal revenue in order to maximize profits. This is so that the company can raise revenue by raising output when marginal revenue is greater than marginal cost.

when a business operating under perfect competition discovers that its market price is less than its minimal average variable cost?

A completely competitive company will sell when it discovers that the market price is less than the minimum average variable cost: Nothing at all; the business closes.

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Select the correct answer from each drop-down menu.
Fill in the blanks.
Jackie wants to be an elementary school teacher, but first she must be a
a
Reset
Next
Once she has done that, she can graduate with

Answers

Answer:

a Bachelor's degree in Education.

PLS HELP ASAP I WILL GIVE A LOT OF POINTS
Slide one: Title slide must indicate the purpose of the slide presentation, indicate the nature of the crime, and the location.
Slide two: Construct a timeline of the crime as given by the scenario.
Slide three: Explain three actions taken by the officers to secure the crime scene area.
Slide four: Describe the actions of the EMT’s and give at least one example of the techniques they should use to avoid contaminating the crime scene.
Slides five through nine: Five pieces of physical evidence should be obtained from the forensic team. Each slide should only contain one piece of physical evidence with is description, classification, and the location where it was found. Classification of the physical evidence should identify if it is trace, transient, conditional, indirect, circumstantial, individual, or class.
Slide ten and eleven: Interview with Mrs. Marta; Generate three questions that Investigator Gomez would ask Mrs. Marta about the crime. Use your imagination for her answers, but make sure the answers are logical.
Slide twelve and thirteen: Summarize all the five pieces of evidence, pertinent information the report from the EMT's, and the interview of Mrs. Marta. Identify two more actions that Investigator Gomez needs to take to help solve the crime.

Answers

The answer is mentioned below.

Describe Investigation?

Investigation is the process of gathering and analyzing information or evidence to determine the facts of a situation or event. It involves using various techniques and tools to gather information, interviewing witnesses and suspects, examining physical evidence, and analyzing data to reach a conclusion. Investigations can be conducted for a wide range of purposes, including criminal investigations, workplace investigations, accident investigations, and financial investigations. The goal of an investigation is to uncover the truth and provide evidence to support a conclusion or decision.

Slide 1:

Title slide with the purpose of the presentation, nature of the crime, and location.

Slide 2:

Timeline of the crime based on the scenario.

Slide 3:

Three actions taken by the officers to secure the crime scene area.

Slide 4:

Actions of the EMT's and techniques they should use to avoid contaminating the crime scene.

Slides 5-9:

Five pieces of physical evidence with description, classification, and location. Classification should identify if it is trace, transient, conditional, indirect, circumstantial, individual, or class.

Slide 10-11:

Interview with Mrs. Marta. Three questions that Investigator Gomez would ask Mrs. Marta about the crime.

Slide 12-13:

Summary of all evidence, report from the EMT's, and interview of Mrs. Marta. Identify two more actions that Investigator Gomez needs to take to help solve the crime.

It is important to note that the specifics of the presentation will depend on the nature of the crime and the scenario provided.

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a gamer tracks his rewards from three types of items, common, rare and legendary. the table belw show the number of items he hasreceived. what is the probability that his next reward will be legendard

Answers

I need to know how many prizes the player has earned overall and how many legendary rewards he has already received in order to determine the likelihood that the next gift will be legendary.

What is game theory for reward systems?

The term "game reward systems" refers to the design of rewards and incentives in a game that both encourage player intrinsic motivation and provide extrinsic benefits.

What is the name of the rewards programme?

The brain regions that control the physiological and cognitive processing of reward are collectively referred to as the mesolimbic system or the reward system.

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Explain the stages and principles of motivational interviewing. Do you think motivational interviewing can be effective with clients misusing alcohol and other illegal substances.

Answers

Motivational interviewing is a counseling approach that helps people explore and resolve ambivalence about changing their behavior. It is based on four core principles: expressing empathy, developing discrepancy, rolling with resistance, and supporting self-efficacy.

The stages of motivational interviewing include:

1. Engaging: Establishing a therapeutic relationship and building rapport.

2. Focusing: Identifying and clarifying the client’s goals and values.

3. Evoking: Helping the client to explore and resolve ambivalence about changing their behavior.

4. Planning: Developing a plan for change and setting goals.

5. Reviewing: Evaluating progress and making adjustments to the plan.

Yes, motivational interviewing can be effective with clients misusing alcohol and other illegal substances. It helps clients to explore their ambivalence about changing their behavior and to develop a plan for change. It also helps to build a therapeutic relationship and to support self-efficacy, which can be especially important for clients with substance use disorders.

REAL ANSWERS ONLY PLEASE!!! PLEASE HELP IT IS URGENT!!!! I NEED EXPLINATIONS AS WELL!!!!!!
1. In context, the second sentence of the fifteenth paragraph ("However, the agreement . . . legally binding”) (lines 59–60) serves as a transitional element that
A. reveals the author’s regrets about a proposed solution in the passage
B. acknowledges a weakness in the author’s line of reasoning in the passage

2.Which of the following choices accurately describes a strategic stylistic decision that the author makes in the seventeenth paragraph (lines 64–66)?
A.The coordinated clause provides a contrast to the previous paragraph and gives the same importance to the ability to remove large items and the inability to remove microplastic.
B. The words regretted and colossal, both of which have negative connotations, emphasize the flaws inherent in the plan to remove plastic from the ocean

3.Which of the following statements most directly expresses the author’s thesis in the passage?
A.To effect real change and clean up, countries need to take a deeper look at the ways they use plastics in everyday life.
B. A concerted international effort is needed to both remove the existing garbage patch and reduce plastic waste overall.

Answers

In context, the second sentence of the fifteenth paragraph ("However, the agreement . . . legally binding”) (lines 59–60) serves as a transitional element that A. reveals the author’s regrets about a proposed solution in the passage

The choice that accurately describes a strategic stylistic decision that the author makes in the seventeenth paragraph (lines 64–66) is B. The words regretted and colossal, both of which have negative connotations, emphasize the flaws inherent in the plan to remove plastic from the ocean

The option that expresses the author’s thesis in the passage is B. A concerted international effort is needed to both remove the existing garbage patch and reduce plastic waste overall.

How to explain the excerpt

It should be noted that in context, the second sentence of the fifteenth paragraph serves as a transitional element that reveals the author’s regrets about a proposed solution in the passage.

This indicates the author’s dismissal of a counterargument discussed in the passage.

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Which statement best expresses Anya Kamenetz’s overarching thesis?
Not all jobs require a college degree, so higher education need not be free to all.
Existing loans and grants already provide college aid for those who most need it.
Making higher education tuition-free will not eliminate disparity in wealth and opportunity.
The costs of higher education would best be regulated by the laws of supply and demand.
College cost is a complicated issue that requires more than “free” fixes that are not truly free.

Answers

Answer:

The statement that best expresses Anya Kamenetz’s overarching thesis is: "College cost is a complicated issue that requires more than “free” fixes that are not truly free." This statement suggests that while free college education is an attractive solution, it is not a comprehensive solution to the issue of college cost. Kamenetz argues that the issue is more complex and requires a multi-faceted approach to address the underlying problems. She discusses the different ways that college cost affects individuals and society, and how addressing the issue will require more than just making college tuition-free for everyone.

Explanation:

Which of the following is correct about Roosevelt Indian new deal
Announced in 1934?

Answers

Answer:

assistance for the jobless, economic growth brought on by government spending, and reform (of capitalism, by means of regulatory legislation and the creation of new social welfare programs).

Explanation:

Type the correct answer in the box. Spell all words correctly.
Which of these certificates can you obtain through the Red Cross?
Nancy obtained her
certification from the American Red Cross.

Answers

Answer:

Explanation:

Which of these certificates can you obtain through the Red Cross?

Nancy obtained her certification from the American Red Cross.

Answer: certification.

Certification is the correct answer in the box spell all words correctly.

What is Certification?

An impartial entity certifies a product, service, or system by issuing a written statement (a certificate) stating that it complies with certain requirements. It is the official attestation or affirmation of particular qualities of a thing, someone, or a group.

Often, but not always, some kind of external evaluation, instruction, assessment, or audit offers this validation. An organization's certification procedure is called accreditation.

A certification exam is a credentialing test designed to establish whether someone are knowledgeable enough in a given occupational area to be deemed "competent to practice" in that area, according to the U.S. National Council on Measurement in Education.

Therefore, Certification is the correct answer in the box spell all words correctly.

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2 reasons south korea doesn't fit the state concept

Answers

Note that South Korea doesn't fit the state concept due to the division of the Korean Peninsula and the influence of external powers on its politics and economy.

What is special about South Korea?

South Korea is special for its rapid economic growth, technological advancements, and cultural exports such as K-pop and Korean dramas.

It also faces unique challenges such as the ongoing conflict with North Korea and pressure to maintain relationships with global superpowers. Despite this, South Korea has emerged as a democratic and influential player on the world stage.

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A firm is maximizing its profit while incurring economic losses. What must be true? (2 points)
Total cost > total revenue; marginal cost > marginal revenue
Total cost = total revenue; marginal cost > marginal revenue
Average total cost > price; marginal cost = marginal revenue
Average total cost < price; marginal cost = marginal revenue
Average total cost < average revenue; marginal cost > marginal revenue

Answers

When a company maximizes its profit while suffering economic losses, Marginal cost exceeds marginal revenue and total cost exceeds total income.

The highest level of profit is achieved when marginal revenue equals marginal cost. False or true?

True is the appropriate response. The aforementioned claim is accurate since a business or sector does not cease to exist if profits are maximized when marginal revenue and marginal cost are equal.

What does a company that seeks to maximize profits do?

Businesses use the practice of profit maximizing to ensure that the highest levels of output and prices are realized in order to maximize their returns. The company adjusts important variables, such as sale price, production costs, and output levels, in order to reach its profit targets.

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Are Aesop’s fables still relevant in the Information Age? Have we outgrown the need for them? Referring to specific fables in the text, write an argument for or against the usefulness of fables as lessons or literature.

Answers

Aesop's fables have been a popular form of storytelling for centuries, and their influence can still be seen in modern-day literature, television, and film. While some may argue that we have outgrown the need for these fables in the information age, I believe that they still have relevance and value as both lessons and literature.

Firstly, the fables' timeless themes and messages make them still relevant today. For example, the fable of "The Tortoise and the Hare" teaches us the importance of persistence and hard work, which is still applicable in today's world. In a society that often values speed and instant gratification, this lesson is still essential to remember.

Moreover, fables provide an engaging way to teach complex ideas or moral lessons. They are often told in a simple, accessible language that even children can understand, making them an effective tool for teaching values and virtues to younger generations. The fable of "The Boy Who Cried Wolf" teaches the importance of honesty and integrity in a way that is easy to understand, making it an excellent example of how fables can be used to convey important messages.

Additionally, fables can also provide insight into the cultural values and beliefs of a particular society. For instance, the fable of "The Ant and the Grasshopper" reflects the importance of hard work and preparation in ancient Greek culture. By studying these fables, we can gain a better understanding of the values and beliefs of the cultures that created them, which can help us to appreciate and learn from different perspectives.

In conclusion, Aesop's fables are still relevant and useful in the information age. They provide timeless lessons and insights into different cultures, making them valuable both as literature and teaching tools. While our society has evolved and changed, the lessons and themes in these fables remain constant and continue to be applicable in our lives today.

Consider the following cost schedule for a firm.

Quantity Marginal Cost Average Total Cost Average Variable Cost
10 $12 $32 $24
15 $14 $30 $20
20 $16 $28 $16
25 $26 $26 $20
30 $30 $28 $24
35 $40 $32 $30


What is the economic profit or loss for a perfectly competitive firm if the market price is $26? (2 points)
0
$20
−$20
$150
−$150

Answers

If the market price is $26, a perfectly competitive firm would make an economic profit or loss of $20.

How is the average variable cost determined?

Divide the variable cost at that level by the total product to determine the average variable cost (AVC) at each output level. Each output level's average variable cost will be provided to you. For instance, there are five workers on the left.

Is it an economic cost for a company to pay an accountant a $10,000 annual retainer?

There is a financial transaction when the firm pays a $10,000 yearly retainer. The accountant exchanges his or her time for cash. A yearly retainer is an economic expense because it is an explicit cost.

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