WebA firm's monetary payments made for the use of resources owned by others. Your company's total sales revenue for the month is $150,000; the costs to produce your products are $12,000 for rent, $6,000 for utilities, and $42,000 for employee wages. What is your accounting profit? Multiple choice question. $90,000 $108,000 $132,000 $102,000 $90,000 WebIf a firm buys a building so as to have office space for its workers, the monthly opportunity cost of the building is best measured as A) the monthly mortgage payment the firm must pay. B) the price the firm paid divided by twelve. C) zero. D) the rent the firm could earn if it rented the building to another firm.
Factors of Production, Factor Services and Factor Payments
WebMar 29, 2024 · Firms give Factor Payments to Households FACTOR PAYMENTS WAGES INTEREST RENT PROFIT Paid to Human Labor (Workers) Paid for Capital … WebThe payments a firm must make or the incomes it must provide to attract the resources it needs away from alternative production opportunities. Explicit costs are the monetary payments made to the owners of-Land-Labor-Capital-Resources. In production, constant _____ to scale occur between economies and diseconomies of scale, where long-run ... piper the 3rd
Econ chapter 9 Flashcards Quizlet
WebA. An increase in the price of automobiles will lead to a decrease in the quantity of automobiles demanded. B. Due to process innovations in computer chip manufacturing, the market supply of computers increased. C. Due to an economic recession, manufacturing firms began implementing layoffs of their workforces. WebStudy with Quizlet and memorize flashcards containing terms like Chapter 7, 7.1, The price a firm charges for a good, the output produced, and labor employed are all directly dependent upon _____. and more. ... She will be taking a pay cut to follow her dream. She makes an annual salary of $175,000 as a stock broker, but expects to only earn ... WebBy employing labour, firms pay wages creating a flow of income to households, which ultimately can be spent by households on goods … piper teacher