Last year, Bob earnd $40,000 selling real estate, but he now sells greeting cards. The return to entrepreneurship in the greeting cards industry is $22,000 a year. During this year, Bob bought $12,000 of greeting cards from manufacturers and sold them for $57,000. Bob rents a shop for $5,000 a year and spends $2,500 on utilities and office expenses. Bob owns a cash register, which he bought for $2,400 with funds from his savings account. The bank pays 3 percent a year on savings accounts. At the end of the year, Bob was offered $1,400 for his cash register. Bob has implicit costs of Type dollars. .
An implicit cost is an opportunity cost incurred by Bob when he uses a factor of production for which he does not make a direct money payment. What were all of the opportunity costs for which Bob did not make a direct money payment?

Answers

Answer 1

The opportunity costs for which Bob did not make a direct money payment include the forgone earnings from selling real estate, which was $40,000, and the forgone interest earnings from his savings account, which was $72 ($2,400 * 3%).

These are both implicit costs as they are the opportunity cost of using his time and funds in the greeting card business instead of selling real estate or leaving his money in the savings account.

There are also implicit costs associated with the use of his cash register, which he could have sold for $1,400 at the end of the year. The opportunity cost of using the cash register in the business is therefore $1,400. This represents the potential earning he could have gained from selling the cash register, had he not used it in the business.

In conclusion, the implicit costs incurred by Bob in his greeting card business include the forgone earnings from selling real estate, the forgone interest earnings from his savings account, and the opportunity cost of using his cash register in the business. These costs are important to consider when calculating the overall profitability of the business.

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Related Questions

which of the following is a marketing metric used to provide insight into the performance of current marketing efforts so that adjustments can be made to improve performance? A) BCG matrix
b) lagging indicators
c) PERT chart
d) SWOT analysis
e) leading indicators

Answers

The marketing tactic that runs counter to the practice of market segmentation is undifferentiated marketing.

Undifferentiated marketing, also known as mass marketing, is a strategy where a company ignores segmenting the market and instead adopts a broad, generic approach to target the entire market with a single marketing mix. It assumes that all customers have similar needs and preferences, and therefore, a standardized marketing message and product offering will appeal to the entire market. This tactic disregards the diversity and unique characteristics of different customer segments and treats them as a homogeneous group.

In contrast, targeted marketing is based on market segmentation, where companies identify distinct customer segments with specific needs, preferences, and behaviors. Targeted marketing tailors marketing efforts and messages to effectively reach and engage each specific segment. This approach recognizes the importance of understanding and catering to the differences among customer groups for better marketing effectiveness and customer satisfaction.

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HOW IS EVERYONE i love u all and enjoy helping you where u may struggle

Answers

I LOVE YOU. i am good thank you :) how are you??

Answer:

THANK YOU SOOO VERY MUCH. I need assistance with my question

a shift from an active to a passive orientation would most likely affect

Answers

A shift from an active to a passive orientation would most likely affect motivation, productivity, and performance. A shift from an active to a passive orientation would most likely have a significant impact on motivation, productivity, and performance, especially in sales-oriented roles.

When we speak about orientations, we refer to an individual's perspective towards a given situation. Orientation might be active, where an individual makes decisions, interacts with other individuals, and gets things done, or it could be passive, where the individual is less involved and takes less responsibility.

For example, an employee who is proactive and takes responsibility for their work is more likely to achieve greater results than one who is passive and does not take the initiative. Individuals who are passive, on the other hand, prefer to receive instruction, avoiding confrontation, and may be afraid to make decisions on their own.

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Jenna supervises a group of employees who are highly trained and
motivated. Based on this information, which type of management style
should Jenng employ?
A. Directing
B. Supporting
C. Delegating
D. Coaching
SUBMIT

Answers

Answer: C. Delegating

Explanation:

With a delegating management style, the manager simply assigns projects and duties to their subordinates and gives them the freedom to carry out those tasks the way they see fit.

This is best used when the employees are very skilled and motivated. Their skill will enable them to get the job done and their motivation means that they do not have to be followed up constantly to get the job done.

Answer:

DELEGATING

Explanation:

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Define entrepreneurial education??????​

Answers

Answer:

hope it helps if it does follow me

Explanation:

Entrepreneurship education seeks to provide students with the knowledge, skills and motivation to encourage entrepreneurial success in a variety of settings. Variations of entrepreneurship education are offered at all levels of schooling from primary or secondary schools through graduate university programs.

A country wants to create a fair economy for its people. The government takes control over the country's biggest companies and puts groups of workers in charge. All citizens are encouraged to share the wealth produced in these companies equally, This situation best reflects the influence of which economic thinker? O A. Adam Smith O B. Karl Marx O C. John Maynard Keynes O D. Thomas Robert Malthus​

Answers

Answer:

B). Karl Marx

Explanation:

Karl Marx is the economic thinker whose influence has been best reflected in the given situation as it talks about socialism which is the intermediate phase between capitalism and attaining full communism as per Marx. Socialism advocates collective pr governmental ownership and administration of the means of production and distribution of goods as mentioned in this situation. It is the foundation to communist society (Marx's proposed version of an ideal economy) where the people hold the ownership of distribution of resources collectively. Thus, option B is the correct answer.

AWNSER THIS ASAP PLEASE

a commidity is something with cash value that can be bought ir sold

true
false ​

Answers

Answer:

true so yeah so that is the answer

Answer:

True

Explanation:

In simplest terms, it would mean a useful or valuable thing. And in specific terms, that value cam be bought or sold.

company ej plans to build a new plant to manufacture bicycles. ej sells its bicycles in the world market for $550 per bike. it could locate the plant in province p, which levies a 25 percent tax on business income. on the basis of the cost of materials and labor in province p, ej estimates that its manufacturing cost per bike would be $332. alternatively, ej could locate the plant in province w, which levies a 20 percent tax on business income. on the basis of the cost of materials and labor in province w, ej estimates that its manufacturing cost per bike would be $350. required: calculate the after-tax profit per bike for each province. in which province should company ej build its new plant?

Answers

Company EJ has two options for building its new plant: Province P and Province W. To determine which province is the better choice, we need to calculate the after-tax profit per bike for each location.

Province P:
- Manufacturing cost per bike: $332
- Tax rate: 25%
- Selling price per bike: $550
- Pre-tax profit per bike: $550 - $332 = $218
- Taxes per bike: $218 * 0.25 = $54.50
- After-tax profit per bike: $218 - $54.50 = $163.50
Province W:
- Manufacturing cost per bike: $350
- Tax rate: 20%
- Selling price per bike: $550
- Pre-tax profit per bike: $550 - $350 = $200
- Taxes per bike: $200 * 0.20 = $40
- After-tax profit per bike: $200 - $40 = $160
Comparing the after-tax profit per bike for each province, Company EJ should build its new plant in Province P, as it has a higher after-tax profit per bike ($163.50) compared to Province W ($160).

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Navel County Choppers, Inc., is experiencing rapid growth. The company expects dividends to grow at 19 percent per year for the next 8 years before leveling off at 5 percent into perpetuity. The required return on the company’s stock is 10 percent. If the dividend per share just paid was $1.52, what is the stock price?

Answers

Answer:

Price of stock = $74.636

Explanation:

The Dividend Valuation Model is a technique used to value the worth of an asset. According to this model, the worth of an asset is the sum of the present values of its future cash flows discounted at the required rate of return.  

The price of the stock will the sum of the present value of the growing annuity and the growing perpetuity

Present value of dividend  from year 1 to 8

The PV of the growing annuity  = A/r-g) ( 1- (1+g)/(1+r)^n   )

A- dividend payable now , r- required of return, g-growth rate, number of years

PV  = 1.52×(1.19)/(0.1-0.19) × (1 -(1.19/1.1)^8)= 17.605

PV of Dividend from year 9 and beyond:

P = D× g/(r-g)

This will be done in two steps:

Step 1: PV(in year 8)of dividend = (1.52× 1.19^8× 1.05)/(0.1-0.05)= 122.250

Step 2 : PV in year 0 = 122.25× 1.1^(-8)= 57.030

Price of stock = 17.60 +  57.030= 74.63

Price of stock = $74.636

If my revenue is one million and my expenses are 1,386,000, what's my profit in percentage

Answers

The profit in percentage given the revenue and the expenses is -38.60%

What is the profit in percentage?

Percentage is the fraction of a number expressed as a value out of 100. The sign that is used to represent percentage is %. In order to convert a number to percentage, multiply by 100.

Profit is the difference between revenue and expenses. Revenue is the total income earned by a company before any deductions are made. Expenses include all the cost incurred in running a business.

Profit = revenue - expenses

1,000,000 - 1,386,000 = -386,000

Profit in percentage = (profit / revenue) x 100

(-386,000 / 1,000,000) x 100 = -38.6%

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Lawrence is a buyer closing on a home purchase for which he's obtaining financing. He receives a Loan Estimate from his lender. What's the purpose of this document?

Answers

Answer: The purpose of this document is to detail estimated closing costs for Lawrence's loan

Explanation:

From the question, we are informed that Lawrence is a buyer closing on a home purchase for which he's obtaining financing and that he receives a loan estimate from his lender.

The function of a loan estimate is to detail estimated closing costs for the loan that Lawrence's took. With the low estimate, Lawrence will have an idea of what he'll pay

Why is it good to be organized?

Answers

Answer:

its good to be organized to feel like you have your life together. it makes it easier to find things and makes you feel less stressed and anxious when the area youre in is organized and clean

Because when you are organized things are easier, you have an organized sleep schedule and your school things and papers are organized so it's easier to know where everything is. Also when you are organized you'll notice some things would run smoother than it would when you aren't organized. But you have to want to be organized.

Oracle, a firm that sells commercial ERP and database products, provides Linux for free, selling high-margin Linux support contracts for as much as five hundred thousand dollars. Oracle's motivation for this lies in: Group of answer choices accelerating the shift of open source software towards a proprietary regime. impoverishing other open source developers and furthering its own proprietary offerings. protecting itself from the risks of distributing code while unaware of legal implications. using open source software to fuel sales of hardware. using open source software to wean customers away from competitors.

Answers

Answer: using open source software to wean customers away from competitors.

Explanation:

From the question, we are provided the information that Oracle, a firm that sells commercial ERP and database products, provides Linux for free.

Based on other information given in the question, we can infer that Oracle's motivation for this lies in using open source software to wean customers away from competitors.

Since Linux is being provided free by Oracle, this is a way of moving customers towards the company and away from other competitors.

Retailers can gain valuable knowledge about their customers from the transaction process and fromSelect one:a. the insights of store personnel.b. store brand/private label brand ratios.c. multichannel flow process.d. end-of-aisle positioning studies. Incorrecte. trade industry profiles.

Answers

Retailers can gain valuable knowledge about their customers from the transaction process and from the insights of store personnel. By analyzing transaction data, retailers can identify purchasing patterns, popular products, and customer preferences. The correct option is a.

The transaction process refers to the process of completing a sale with a customer, which involves gathering information about the customer's purchase history, preferences, and behavior. Retailers can use this information to gain insights into their customer's needs and preferences and to tailor their offerings and marketing strategies accordingly.

In addition to the transaction process, retailers can also gain valuable insights from their store personnel. Store personnel interact with customers on a daily basis and can provide valuable feedback on customer needs and preferences, as well as on product performance and customer service.

While store brand/private label brand ratios, multichannel flow process, end-of-aisle positioning studies, and trade industry profiles can also provide valuable insights for retailers, the transaction process and store personnel are two of the most direct and immediate sources of customer insights for retailers.

The correct option is a.

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What advice or feedback would you offer your manager to improve their effectiveness as a manager?.

Answers

Communicate with your employees. ...
Listen to your employees. ...
Set goals. ...
Recognize your employees for their performance. ...
Lead by example. ...
Be transparent. ...
Know your employees. ...
Help your employees enjoy their work.

A Stove Can be bought on hire purchase by making a deposit of $750
and 15 monthly installments of $185 each. Calculate the hire Purchase
Price of the stove

Answers

Answer:

$3,525.00

Explanation:

The hire purchase price will be the sum of the deposit and the total monthly installments.

The deposit is $750

Monthly installments =monthly fee multiplied by 15 months

=$185 x 15

=$2,775.00

Hire purchase cost will be

=$2,775.00 +$750

=$3,525.00

A company has 12,247 customers they extend credit to, they will have 12,247 __________________ accounts.

Answers

The company would have 12,247 subsidiary accounts.

What is a credit?

A credit is a loan facility granted by a bank or an institution to its customers. This is to enable the customers access funds with a view to paying back at a future date.

Companies or institutions grant credit facilities to encourage their customers plan for their business and then pay back later.

Hence, the company would have 12,247 subsidiary accounts since they  extend credits to 12,247 customers.

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evaluate the process used to determine credit scores do you think its fair why or why not
how do the five C's fit to determine of a credit score

Answers

Answer:

The five Cs of credit are character, capacity, capital, collateral, and conditions. ... as the Fair Isaac Corporation), a leading credit evaluation firm, uses the information ... good credit score and credit reports play in securing a loan, it's worth considering

Explanation:

Hope this helps. Also can u give me brainliest?

what was the main economic product of the southern colonies?

Answers

Answer:

Hope this helps........The Southern Colonies had an agricultural economy. Most colonists lived on small family farms, but some owned large plantations that produced cash crops such as tobacco and rice. Many slaves worked on plantations.

Explanation:

Brenda is setting up a slide show that viewers will browse at a kiosk. To

make sure they can progress through the slide show, which of the

following settings can she use? Select all the options that apply.

Answers

Brenda can use the following settings to ensure viewers can progress through the slide show:

Automatic timings

Manual timings with a mouse click or key press

To ensure that viewers can progress through the slide show, Brenda can use the automatic timings option, which advances the slides based on a preset time interval.

She can also use manual timings, which require viewers to click a mouse button or press a key to advance to the next slide. This gives viewers control over the pace of the slide show and ensures that they are able to view each slide before moving on to the next.

Other options, such as loop continuously or kiosk mode, may also be helpful in certain situations, but they do not directly address the issue of ensuring viewers can progress through the slide show.

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Which of the following are key indicators that control of goods or services has been transferred to the customer? (Select all that apply.)
A) Customer has an obligation to pay
B) Customer has legal title to the asset
C) Customer accepted the risks and rewards of ownership
D) Customer signed a legally enforceable contract

Answers

The key indicators that control of goods or services has been transferred to the customer are Customer has an obligation to pay and Customer accepted the risks and rewards of ownership.The correct answer among the given options are A and C.

A) Customer has an obligation to pay: When a customer has an obligation to pay for the goods or services, it indicates that the control has been transferred to them.

This means that the customer is responsible for making the payment, which is a clear indication of their ownership and control over the goods or services.

C) Customer accepted the risks and rewards of ownership: If the customer has accepted the risks and rewards of ownership, it signifies that control has been transferred to them. This means that the customer bears the risks associated with the goods or services, such as loss or damage, and also enjoys the benefits or rewards that come with ownership, such as the right to use or sell the goods.

B) Customer has legal title to the asset: Although legal title to the asset can be an indicator of control transfer, it is not always necessary. Control can be transferred to the customer even if legal title remains with the seller.

For example, in cases of leasing or financing arrangements, the customer may not have legal title to the asset but still have control over its use.

D) Customer signed a legally enforceable contract: While a contract is important for establishing the terms and conditions of the transaction, the mere signing of a contract does not necessarily indicate that control has been transferred.

The transfer of control is determined by the actual performance of the obligations outlined in the contract.

In conclusion, the key indicators that control of goods or services has been transferred to the customer are A) Customer has an obligation to pay and C) Customer accepted the risks and rewards of ownership.

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If income summary has a $13,500 debit balance before it is closed to the capital account, the company

Answers

Answer and Explanation:

In the case when the company has the debit balance of the income summary account so there should be the net loss as the net loss have the debit balance while the credit balance net profit of the company

So

Since there is the debit balance of the income summary that means there is a net loss

So the same would be considered

Choose a country other than the United States— maybe a country you would like to visit someday, or a country that speaks a language you have learned or that someone you know speaks.
Respond to the following:

1.Research the real GDP per capita of that country and compare it to the real GDP per capita of the United States.
2.Explain how the costs of production and the standard of living for residents of the two countries might be different based on the different values for real GDP per capita.

Answers

The comparison that would be made here is the Real GDP of the United States and that of Ni/geria per capita in the year 2021. The US has the real GDP per capita as 69,287.54 USD, while Ni/geria has theirs as 2,085.03 USD.

The cost of production is low in USA nd high in Ni/geria

The standard of living is high in USA and very low in Ni/geria

The standards of living in these nations

From the figure that we have here, even though the figure for Ni/geria is a bit exaggerated, I would say that the United States has been able to create a system where the people have a better standard of living by creating all of the means that businesses would thrive.

The cost of production in the USA would be lower and the standard of living would be high obviously.

In Nigeria, the cost of production id high and the standard of living is very low for the people

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Use this graphic to answer the question.

A 911 dispatcher receives the following description of an accident: "I was driving northbound on I-75 and hit a concrete barrier right after I passed a bridge rail and a temporary traffic sign.”

At which mile marker did the accident occur?

3,440
3,560
3,980
4,050

Use this graphic to answer the question.A 911 dispatcher receives the following description of an accident:

Answers

The location that the accident has occurred would be at the point 3,980

How to get the location of the accident

First we have to check the place where the pin is placed on the graph. The color of the pin is red.

From the position, you would have to check for all of the option that are in the question. The option 3440 is farther away from the point of the accident, same as 3560. The point 4050 is also away from the point to the left.

This leaves us with the point of 3980 which is closer to 4000.

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What’s the answer???

Whats the answer???

Answers

Answer:

The answer is false

Explanation:

Trevor is a marketing professional in a small firm. He wants to promote his firm’s online shopping website. He targets only those customers in his promotional strategy who use online shopping. Which form of marketing does Trevor demonstrate?
A.
telemarketing
B.
outbound marketing
C.
social marketing
D.
inbound marketing

Answers

D ?
Inn bound marketing

Answer:

Ya it is D

Explanation: I got it right so you should too

test the joint significance of model 1 at the 5% level. for credit you must be certain to show all olf the steps needed to formally conduct teh test

Answers

the model 1's combined significance at the 5% threshold A succession of s n may or may not result in the same conclusion, so you must be sure to illustrate all of the procedures for credit.

Are importance and significance the same?

While "importance" and "significance," based on the thesaurus, are frequently used synonymously, a research conclusion might be statically important but not necessarily noteworthy. In contrast, a study's findings could be significant even if the P value does not meet the threshold for statistical significance.

Does impact imply significance?

This indicates that the individual might well have requirements across multiple of the eligible outcomes, possibly at the a fairly low rate, and as these needs increase, they may have a significant influence.

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Resource leveling uses a trial-and-error method to test delaying a. all critical activities b. all activities with a positive slack c. only non-critical activities with positive slack d.all non-critical activities

Answers

Resource leveling uses a trial-and-error method to test delaying

c. only non-critical activities with positive slack

Resource leveling is a technique used in project management to adjust the project schedule to avoid over-allocating resources. It involves adjusting the start and finish dates of activities to ensure that resources are used efficiently and effectively.

In resource leveling, only non-critical activities with positive slack are delayed to avoid over-allocating resources. Critical activities must be completed on time to ensure that the project is completed on schedule. Activities with negative slack cannot be delayed as they are already on a critical path and delaying them will result in a delay in the project completion date.

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The complete question is:

Resource leveling uses a trial-and-error method to test delaying.

a. all critical activities

b. all activities with a positive slack

c. only non-critical activities with positive slack

d. all non-critical activities

Market-clearing price of bagels in competitive equilibrium - P = $1.4
How many bagels are bought and sold daily in Philadelphia- 8,000 bagels
e. How does the market-clearing price found in part a serve to ration bagels to the consumers who place the highest value on them?
f. Does the Philadelphia bagel market achieve social economic efficiency? Why?
The market for bagels in Philadelphia is perfectly competitive. In Philadelphia, the daily demand for bagels is Q d

=15,000−5,000P, which is graphed as D in the figure below. The industry supply of bagels in Philadelphia is Q s

=−6,000+10,000P, which is graphed as S in the figure.

Answers

The market-clearing price of bagels in competitive equilibrium - P = $1.4. 8,000 bagels are bought and sold daily in Philadelphia. But the Philadelphia bagel market does not achieve social economic efficiency.

The market-clearing price found in part a serves to ration bagels to the consumers who place the highest value on them because the price signals to consumers how much they have to pay for the goods. People with high purchasing power can pay more and enjoy their bagels, while people with lower purchasing power might buy cheaper goods or buy less of them.

The Philadelphia bagel market does not achieve social economic efficiency since it is not producing at the socially optimal level and there is a deadweight loss. The quantity supplied and demanded can be found by setting Qs equal to Qd:−6,000+10,000P=15,000−5,000P10,000P=21,000P=2.1. There is a surplus of bagels at a price of $2.1; thus, the market price must be lower than $2.1. At a price of $1.4, 8,000 bagels are bought and sold daily in Philadelphia. The quantity of bagels is lower than what would be produced at the socially optimal level, indicating that there is a deadweight loss. Therefore, the Philadelphia bagel market does not achieve social economic efficiency.

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Personal _______ involves deciding what makes you unique and desirable in the job market and preparing a tagline and employer-focused elevator speech.

Answers

The answer is Branding.

Branding refers to a marketing strategy that aims to promote and manage a company's, product, or brand's image.

When we add personal to branding it means that it is a practice that consists of an individual promoting their own image and skills through marketing and advertising techniques usually used to promote a brand.

In this approach, the individual aims to become a "recognized brand" himself.

The personal branding process can be undertaken as part of a professional activity or on a more personal basis.

Hence, Personal Branding involves deciding what makes you unique and desirable in the job market and preparing a tagline and employer-focused elevator speech.

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