Top Posters
Since Sunday
d
4
N
3
3
R
3
k
3
o
3
Z
3
j
3
s
3
d
3
J
3
1
3
New Topic  
Noar Noar
wrote...
Posts: 149
Rep: 0 0
A year ago
The table below provides the annual revenues and costs for a family-owned firm producing catered meals.

Total Revenues ($)500 000
Total Costs ($)
- wages and salaries200 000
- risk-free return of 6% on owners' capital of 250 00015 000
- rent105 000
- depreciation of capital equipment25 000
- risk premium of 8% on owners' capital of 250 00020 000
- intermediate inputs    150 000
- forgone wages of owners in alternative employment   80 000
- interest on bank loan 10 000

TABLE 7-1

Refer to Table 7-1. To an accountant, this family-owned catering company is earning ________. To an economist, the same firm is earning ________.

▸ economic profits; economic losses

▸ zero profit; economic losses

▸ zero profit; normal profits

▸ positive profits; economic losses

▸ economic profits; economic profits
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
Read 54 times
1 Reply
Replies
Answer verified by a subject expert
zexman911zexman911
wrote...
Posts: 122
Rep: 0 0
A year ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

Noar Author
wrote...

A year ago
You make an excellent tutor!
Mcb
wrote...

Yesterday
I appreciate what you did here, answered it right Smiling Face with Open Mouth
wrote...

2 hours ago
Correct Slight Smile TY
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers
  1591 People Browsing
Related Images
  
 4493
  
 312
  
 201
Your Opinion
Which industry do you think artificial intelligence (AI) will impact the most?
Votes: 484