User Account

All Pages

What was the firm economic profit last year

Assignment Help Microeconomics
Reference no: EM131634940

Question: Continuing from Exercise, the firm's factory sits on land owned by the firm that could be rented out for $30,000 per year. What was the firm's economic profit last year?

Exercise: A firm had sales revenue of $1 million last year. It spent $600,000 on labor, $150,000 on capital and $200,000 on materials. What was the firm's accounting profit?

Reference no: EM131634940

Questions Cloud

What was the firm accounting profit : A firm had sales revenue of $1 million last year. It spent $600,000 on labor, $150,000 on capital and $200,000 on materials.
Reforming the electoral system of the us : Please provide up to three recommendations for reforming the electoral system of the US.
What method and how would you deliver it : Using your example explain if another delivery method would be possible. What method and how would you deliver it?
Chemical and physical properties of litmus : What are the chemical and physical properties of litmus? What allows it the ability to act as an acid-base indicator?
What was the firm economic profit last year : Continuing from Exercise, the firm's factory sits on land owned by the firm that could be rented out for $30,000 per year.
What is the definition of a mole of a substance : What is the definition of a "mole" of a substance? What is meant by the molar mass of a substance? Why is the mole a convenient quantity to use in chemistry?
What are and why are important as political aspect : Read the book PLATO "the last days of Socrates" . What are and why are important as political aspect.
Final products of photocatalytic oxidation : TiO2 is one of the most useful materials to decompose organic substances using photocatalytic oxidation. What final products of photocatalytic oxidation
Discuss reasons us government announced policy of neutrality : Discuss the reasons the United States government announced a policy of neutrality at the outbreak of the war in Europe in 1914, as well as the difficulties.

Reviews

Write a Review

Microeconomics Questions & Answers

  Discuss the difference between a change in demand

Discuss the difference between a change in demand and a change in quantity demanded in terms of causes and in how they appear graphically.

  You are a monopolist producing widgets for simplicity

you are a monopolist producing widgets for simplicity assume that you produce themat zero cost and maximizing your own

  Discuss the direction of change

Name some areas of business in the United States where the prevailing market structures have changed dramatically in last 20-years and discuss the direction of change

  Identify primary activities that create your product

Identify the primary (direct) and support (indirect) activities that create and deliver your product or service to your customers.

  An economy enters expansion

When an economy enters expansion, the unemployment rate first increases and then decreases. Why does this happen?

  Explain in clear language the economic inefficiency

Explain in clear language the economic inefficiency associated with adverse selection - Consider only people enrolled both before and after the implementation of the ACA. What does the theory of moral hazard tell is likely to happen to doctor visit..

  The rulings for affirmative action under title

Outline some of the rulings for affirmative action under Title VI of the Civil Rights Act of 1964, and the Supreme Court Decisions in the 1980s that forced the viewpoints to change of the current seniority system. Explain how the latter Civil Rights ..

  The investment or government spending multiplier

Does an increase in the size of the marginal propensity to consume have the effect of increasing, decreasing, or not changing the size of autonomous spending multipliers (that is, the investment or government spending multiplier)?

  Explain the past affect of elasticity of demand for labour

The owners of the copper smelters to operate each smelter longer than has been the practice in the past affect the elasticity of demand for labour in the copper industry.

  What is the significance of long-run economic profits

What is the significance of long-run economic profits, and why can't the perfect competitor enjoy long-run economic profits, only short-run economic profits?

  What would be your first steps as a self-directed dfe team

You have decided to begin by creating a self-directed DfE team. What internal organizations should be represented on your team, and why? What would be your first steps as a self-directed DFE team?

  Cost function exhibit economies or diseconomies of scale

For what value of Q does the cost function exhibit economies or diseconomies of scale?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd