How is the popular notion of business profit different from the economic profit concept? What role does
Question:
How is the popular notion of business profit different from the economic profit concept? What role does the idea of normal profits play in this difference?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 62% (8 reviews)
The key distinction is that business or accounting profit provides a measure of the total ret...View the full answer
Answered By
Harshada Patil
I like tutoring because education is the most important aspect of our life and I think by teaching I am fulfilling the most important aspects of ones life.
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Economics questions
-
What role does an operational concept definition play in planning a research project?
-
What role does geography play in economic growth?
-
What role does advertising play in our economic system?
-
What is the output produced from the following statements? System.out.println("name\tage\theight"); System.out.println("Archie\t17\t5'9\""); System.out.println("Betty\t17\t5'6\"");...
-
A piston/cylinder (Fig. P4.114) contains 1 kg of water at 20C with a volume of 0.1 m3. Initially the piston rests on some stops with the top surface open to the atmosphere, Po and a mass so a water...
-
How can production lead time be managed in operations? Why isn't lead time a constant value?
-
Use It's lemma to express \(d F\) given that \(F(x)=x^{1 / 2}\), where the stochastic process \(\left\{S_{t}, t \geq 0 ight\}\) satisfies the stochastic differential equation \[d...
-
1. A patent increases the incentive to develop new products because it ________ the price of the product and thus generates profit to cover a firms costs of _______. 2. In some cases, a patent is...
-
Annual interest rates are 10%. You buy a smartphone for $300 and use it for two years. Each month, you pay a $30 fee for your asm data plan. At the end of two years, you decide to upgrade to the...
-
A store maintains data on customers, products and purchase records in three tables: CUSTOMER, PRODUCT, PURCHASE. The store manager wants to know which product is on its maximum discount for each...
-
In the wake of corporate scandals at Enron, Tyco, and WorldCom, some argue that managers of large, publicly owned firms sometimes make decisions to maximize their own welfare as opposed to that of...
-
Which concept--the business profit concept or the economic profit concept--provides the more appropriate basis for evaluating business operations? Why?
-
In Problems 3942, find an equation for each hyperbola. y = -2x -5 10 -10 y= 2x 5 x
-
Positional information may provide a cue for a cell to a. divide. b. migrate. c. differentiate. d. undergo apoptosis. e. do any of the above.
-
Molecules that convey positional information include a. diffusible morphogens. b. cell adhesion molecules. c. ATP. d. both a and b.
-
What technique must be used to visualize a virus?
-
What is meant by sequencing by synthesis?
-
Which of the following is a reason why the proteome of a eukaryotic cell is usually much larger than its genome? a. Alternative splicing b. RNA editing c. Posttranslational covalent modifications d....
-
Advocates of small businesses often argue that they should receive special tax treatment. Assume that small businesses had to pay only half the Social Security tax that is imposed on large...
-
Solve each equation or inequality. |6x8-4 = 0
-
Summarize findings from the TEDS and TCHAD research.
-
Hypothesis Testing: t tests. Onyx Corporation designs and manufactures a broad range of fluid-handling and industrial products. Although fluid-handling products have been a rapidly growing market for...
-
Correlation. Managers focus on growth rates for corporate assets and profitability as indicators of the overall health of the corporation. Similarly, investors concentrate on rates of growth in...
-
Beta is a common measure of stock-market risk or volatility. It is typically estimated as the slope coefficient for a simple regression model in which stock returns over time are the dependent Y...
-
Using two-way Set-Associative mapping method, design two-way mapping for cache memory from main memory. Explain why you need each condition and show all intermediate calculation procedures. You must...
-
18) Under the proration approach, the sum of the amounts shown in the subsidiary ledgers will not match the amounts shown in the general ledger because no adjustments from budgeted to actual...
-
Simpson Auto Body Repair purchased $20,000 of Machinery. The company paid $8,000 in cash at the time of the purchase and signed a promissory note for the remainder to be paid in four monthly...
Study smarter with the SolutionInn App