Homework Answers
Answer:-
A) shareholder are explicit residual claimants.The residual claimants refer to the economic agent who has the sole remaining claim on an organization's net cash flows,
B) yes, the implicit residual claimants are physicians and staff of the hospital.
C) no, the are no explicit residual claimants
D) yes there are implicit residual claimants, property or the hospital owner
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L. This question deals with the concpt of residual claimant a. Who are the explicit residual...
Explain why each of the following might or might not be considered the appropriate residual claimant...
Explain why each of the following might or might not be considered the appropriate residual claimant for the surplus of a non-for-profit hospital: (A) hospital administrators; (B) physicians; (C) patients.
HANDOUT ABOUT PRODUCTION -CH Z Note: An explicit cost is a cost paid in money. An...
HANDOUT ABOUT PRODUCTION -CH Z Note: An explicit cost is a cost paid in money. An implicit cost is an opportunity cost incurred by a firm when it uses a factor of production for which it does not make a direct money payment Normal profit is the return to entrepreneurship. The normal profit is part of a firm's opportunity cost because it is the cost of persuading the entrepreneur of not running another business. Chapter 7 Handout. Question 2: In...
Show me the formulas for explicit cost, implicit cost, accouting profit, and economic profit. Tell me...
Show me the formulas for explicit cost, implicit cost,
accouting profit, and economic profit. Tell me what to do for
problems a-d.
CTOWT ASSUME THAT YOU OWN AN ENGINEERING FIRM THAT HAS THE FOLLOWING COST AND REVENUE INFORMATION FOR LAST YEAR: Cre 6 -total revenue from operations $650,000 -wages of clerks and assistants 165,000 -$100,000 of your money is invested in the firm; it could earn 5% interest if invested elsewhere (.05 x $100,000) 5,000 cost of inventory, supplies, and...
QUESTION FOUR Dividend policy refers to the explicit or implicit decision of the Board of Directors...
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Answer all the questions (2pts each question) 1. Lauren runs a chili restaurant in San Francisco....
Answer all the questions (2pts each question) 1. Lauren runs a chili restaurant in San Francisco. Her total revenue last year was $110,000. The rent on her restaurant was $48,000, her labor costs were $42,000, and her materials, food and other variable costs were $20,000. Lauren could have worked as a biologist and earned $50,000 per year. An economist calculates her implicit costs as A) $150,000. B) $63,000. C) $50,000. D) $110,000. 2. Which of the following is an example...
9. Opportunity costs can be: • Explicit, if they are out of pocket expenses (in cash...
9. Opportunity costs can be: • Explicit, if they are out of pocket expenses (in cash or in kind). • Implicit, if they are not a disbursement, but they arise as a result of the value of your time or any other alternative us that you may have made out of the resource. For example, the cost from taking time off from work to go to the dentist are an implicit cost Gary has his own business driving clients to...
QUESTION 5 A value of business owner's time would be considered as opportunity cost. O explicit...
QUESTION 5 A value of business owner's time would be considered as opportunity cost. O explicit cost. fixed cost. variable cost. QUESTION 6 Scenario. Melissa is a farmer who produces blueberries. In the last year she produced 6000 pounds of blueberries and sold it at a price of $5 per pound. To produce she incurred a variable costs of $28,000 and a total cost of $40,000. If Melissa had an offer to work in another farm she could have earned...
4. Suppose that last year you started your own brewery. You had $90,000 in explicit costs, which included the wages you...
4. Suppose that last year you started your own brewery. You had $90,000 in explicit costs, which included the wages you paid your employees and the costs associated with the purchase of the ingredients that went into making your beer. You also incurred $61,000 in implicit costs, which included the $50,000 salary ou were earning before you left your previous job to start the brewery business. Over the course of the year, you sold 20,000 bottles of beer at an...
What obstacle in PROM analysis deals with the fact that doctors and other professionals feel like...
What obstacle in PROM analysis deals with the fact that doctors and other professionals feel like they are being blamed for things not in their control? Cognitive Barrier b. Logistic Barrier c. Resource Barrier Losing patients to follow up (re: PROM analysis) deals with which of the following barriers? Logistic Barrier b. Resource Barrier c. Both d. Neither What does the weekly M&M meeting at a hospital discuss? Any patient that has died in the last week. Any patient that...
Microeconomics Chapter 9. Name Emili 1. Economic cost can best be defined as any contractual obligation...
Microeconomics Chapter 9. Name Emili 1. Economic cost can best be defined as any contractual obligation that results in a flow of money expenditures resource suppliers. B. those payments for resources that involve an obvious cash transaction. C. the income the firm must provide to resource suppliers to attract ri uses. D. the opportunity cost of using a resource already owned by the firm. 2. Which of the following is most likely to be an implicit cost for C (A)....
HANDOUT ABOUT PRODUCTION -CH Z Note: An explicit cost is a cost paid in money. An implicit cost is an opportunity cost incurred by a firm when it uses a factor of production for which it does not make a direct money payment Normal profit is the return to entrepreneurship. The normal profit is part of a firm's opportunity cost because it is the cost of persuading the entrepreneur of not running another business. Chapter 7 Handout. Question 2: In...
Show me the formulas for explicit cost, implicit cost,
accouting profit, and economic profit. Tell me what to do for
problems a-d.
CTOWT ASSUME THAT YOU OWN AN ENGINEERING FIRM THAT HAS THE FOLLOWING COST AND REVENUE INFORMATION FOR LAST YEAR: Cre 6 -total revenue from operations $650,000 -wages of clerks and assistants 165,000 -$100,000 of your money is invested in the firm; it could earn 5% interest if invested elsewhere (.05 x $100,000) 5,000 cost of inventory, supplies, and...
Answer all the questions (2pts each question) 1. Lauren runs a chili restaurant in San Francisco. Her total revenue last year was $110,000. The rent on her restaurant was $48,000, her labor costs were $42,000, and her materials, food and other variable costs were $20,000. Lauren could have worked as a biologist and earned $50,000 per year. An economist calculates her implicit costs as A) $150,000. B) $63,000. C) $50,000. D) $110,000. 2. Which of the following is an example...
QUESTION 5 A value of business owner's time would be considered as opportunity cost. O explicit cost. fixed cost. variable cost. QUESTION 6 Scenario. Melissa is a farmer who produces blueberries. In the last year she produced 6000 pounds of blueberries and sold it at a price of $5 per pound. To produce she incurred a variable costs of $28,000 and a total cost of $40,000. If Melissa had an offer to work in another farm she could have earned...
4. Suppose that last year you started your own brewery. You had $90,000 in explicit costs, which included the wages you paid your employees and the costs associated with the purchase of the ingredients that went into making your beer. You also incurred $61,000 in implicit costs, which included the $50,000 salary ou were earning before you left your previous job to start the brewery business. Over the course of the year, you sold 20,000 bottles of beer at an...
Microeconomics Chapter 9. Name Emili 1. Economic cost can best be defined as any contractual obligation that results in a flow of money expenditures resource suppliers. B. those payments for resources that involve an obvious cash transaction. C. the income the firm must provide to resource suppliers to attract ri uses. D. the opportunity cost of using a resource already owned by the firm. 2. Which of the following is most likely to be an implicit cost for C (A)....
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