Mathematics, 03.11.2020 01:00 floydsidney1119
Mary is a young doctor who has just started her own practice. Her previous position paid her $80,000 a year. For office space, she uses a building which she owns and which she has rented in the past for $40,000 a year. Her total revenue from her new practice is $250,000. She pays $50,000 to other firms for material and supplies, and she pays $40,000 in wages to her office nurse. Assume that Mary's building and equipment do not depreciate and that her normal profit is $20,000.
a. Which of Mary's costs are explicit costs and what is their total?
b. Which of Mary's costs are implicit costs and what is their total?
c. What is the opportunity cost of all factors of production employed by Mary?
d. What is Mary's economic profit? (4 points)
2. Dairy is a perfectly competitive industry. Suppose that dairy ranchers are all incurring an economic loss.
a. Explain what happens as time passes?
b. Explain what is the long-run equilibrium outcome? (4 points)
Answers: 1
Mathematics, 21.06.2019 13:40
The cash price of a television is $580.the hire-purchase price of the television is $865.the hire-purchase price is an initial deposit of n% of the cash price and 6 equal monthly payments of $120.find the value of n.
Answers: 1
Mathematics, 21.06.2019 13:50
Aman steps out of a plane at a height of 4,000m above the ground falls 2,000m very quickly and then opens his parachute and slowly falls the remaining 2000m to the ground what height above the ground would be the best choice for a reference point
Answers: 2
Mathematics, 21.06.2019 17:00
Ajar of gumballs contains 4 reds, 2 greens, and 6 blues. what is the probability of getting two blues in a row without replacement?
Answers: 1
Mathematics, 21.06.2019 19:30
Show your workcan a right triangle have this sides? *how to prove it without using the pythagorean theorema*
Answers: 2
Mary is a young doctor who has just started her own practice. Her previous position paid her $80,000...
Advanced Placement (AP), 29.06.2019 08:00
Health, 29.06.2019 08:00
Computers and Technology, 29.06.2019 08:00
Mathematics, 29.06.2019 08:00
Social Studies, 29.06.2019 08:00