Purchase Solution

60-

Not what you're looking for?

Ask Custom Question

A firm generates total revenue of $80,000. Labor costs $40,000, materials cost $20,000 and the owner could have earned $15,000 working for someone else. To an economist, profit equals___________; to an accountant, profit equals ______________.

a) $40,000; 5,000
b) $5,000; $40,000
c) $40,000; $15,000
d) $20,000; $5,000
e) $5,000; $20,000

Purchase this Solution
Purchase this Solution
Free BrainMass Quizzes
Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

View More Free Quizzes
Related BrainMass Solutions

  • Simulate the average hourly number of sales at the Kard Shop

    0.36 47 0.09 60 0.71 70 0.48 80 0.03 60 0.73 70 0.92 60 0.65 70 0.21 70 0.13 70 0.35 47 0.89 60 0.02 60 0.91 60 0.42 53 0.09 60 0.90 60 0.73 70 0.30 47 0.88

  • Yield to maturity current yield capital gain, yield to call

    Part A: Period Cash Flow 0 -1100 1 60 2 60 3 60 4 60 5 60 6 60 7 60 8 60 9 60 10 60 11 60 12 60 13 60 14 60

  • Presence of secondary market

    35 60 70 45 60 65 55 60 60 65 60 55

  • Deternining Output Level & Employment Equilibrium Point

    Q P R(at P=60) C(at P=60) Profit (at P=60) MC MR(at P=60) R(at P=50) Profit (at P=50) 0 60 100 1 60 150 2 60 178 3 60

  • Test statistic and p-value for sample

    H0: μ = 60 versus H1: μ = 60, α = .025, ¯x = 63, σ= 8, n = 16 b. H0: μ ≥ 60 versus H1: μ < 60, α = .05, ¯x = 58, σ= 5, n = 25 c. H0: μ ≤ 60 versus H1: μ > 60, α = .05, ¯x = 65, σ= 8, n = 36 Please find attached the solution to your problems.

  • Calculate greatest number of strawberry-banana shakes possible

    Then we will get xz = 60 => x = 60/z yz = 300 => y = 300/z greatest value of z will be the G.C.F of 60 and 300. G.C.F of 60 and 300 is 60.

  • Future value

    Therefore, at the end of 30 months, all the fund will be 60*1.01^29+60*1.01^28+...+60*1.01^1+60*1.01^0 =60*(1+1.01+1.01^2+...+1.01^29) =60*(1.01^30-1)/(1.01-1) =60*0.3478/0.01 =2087.09 Here we use the formula: 1+a+a^2+...

  • Evaluations with Order of Operations

    , we have: = (((27+3)*2)/60)*9 = (((30)*2)/60)*9 = ((60)/60)*9 = 1*9 =9 We can also use this expression to arrive at the answer of 9: (((27+3)*2) - 60) + 9 If we evaluate the expression, we have: = (((27+3)*2) - 60) + 9 = (((30)*2) - 60)

  • Block and Inclined Plane

    = 0.3 ( F sin 60 + mg cos 60 ) If the block just begins to slide up then: F cos 60 = 0.3 ( F sin 60 + mg cos 60 ) + mg sin 60 F 0.5 = 0.3 ( F 0.866 + 50* 0.5 ) + 50* 0.866 0.5 F = 0.2598 F + 7.5 + 43.3 ( 0.5 - 0.2598 ) F = 50.8 0.2402

  • Understanding Acceleration

    93950 Understanding Acceleration Understanding Acceleration Automobile reviews often cite a vehicle's "0 to 60 time," or the time it takes for a car to go from rest to 60 mph. For example, a "0 to 60 time" of under 5 seconds is considered fast.

View More Related Solutions