Consider the following example:Jordan currently works for a corporate law firm. She is considering opening her own independent legal practice, where she expects to earn$300,000 per year once she gets established. To run her own firm, she will have to give up her current job with a salary of $165,000 and will incurthe following annual expenses:Rent22,490Salary - Legal Assistant21,830Computer Software LicenseOffice SuppliesInternet Subscription1208001,750Part 1: How much are Jordan's explicit costs?46990Part 2: How much is Jordan's accounting profit? 253010Part 3: How much are Jordan's implicit costs? 165000Part 4: How much is Jordan's economic profit? NumberAssume Jordan values her leisure time at $80/hour, and starting her own firm would require her to put in 15 more hours than at the corporate firm:Part 5: What is the change in Jordan's explicit costs? NumberPart 6: What is the change in Jordan's implicit costs? Number

Given; Expected revenue= $300,000 Current salary= $165000 d) Economic profit:- Economic…

Consider the following example: Jordan currently works for a corporate law firm. She is considering opening her own independent legal practice, where she expects to earn $300,000 per year once she gets established. To run her own firm, she will have to give up her current job with a salary of $165,000 and will incur the following annual expenses: 22,490 Rent Salary - Legal Assistant Computer Software License Office Supplies Internet Subscription 21,830 120 800 1,750 Part 1: How much are Jordan's explicit costs? 46990 Part 2: How much is Jordan's accounting profit? 253010 Part 3: How much are Jordan's implicit costs? 165000 Part 4: How much is Jordan's economic profit? Number Assume Jordan values her leisure time at $80/hour, and starting her own firm would require her to put in 15 more hours than at the corporate firm: Part 5: What is the change in Jordan's explicit costs? Number Part 6: What is the change in Jordan's implicit costs? Number

Consider the following example: Jordan currently works for a corporate law firm. She is considering opening her own independent legal practice, where she expects to earn $300,000 per year once she gets established. To run her own firm, she will have to give up her current job with a salary of $165,000 and will incur the following annual expenses: 22,490 Rent Salary - Legal Assistant Computer Software License Office Supplies Internet Subscription 21,830 120 800 1,750 Part 1: How much are Jordan's explicit costs? 46990 Part 2: How much is Jordan's accounting profit? 253010 Part 3: How much are Jordan's implicit costs? 165000 Part 4: How much is Jordan's economic profit? Number Assume Jordan values her leisure time at $80/hour, and starting her own firm would require her to put in 15 more hours than at the corporate firm: Part 5: What is the change in Jordan's explicit costs? Number Part 6: What is the change in Jordan's implicit costs? Number

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

This is for a study guide (not for a grade) please do not decline question Using graph below An American company contracts a Japanese architect to design a new building in Seattle for 8,075,000 dollars. How much (in Yen) would it cost the American firm in month 1? Month 2? So in which month would the American company prefer to pay off the contract? Explain your answer using the numbers from the chart above (show your math) .Japan Airlines is interested in purchasing new commercial aircraft from US manufacturer Boeing at a price of $102 million per plane. What is the difference in the yen price between month 1 and month 2? During which month is Japan Airlines more likely to buy more planes? Why? Explain your answer using the numbers from the chart above (show your math).
P1
Evaluate the differences between the hands based upon many factors a person cannot control. Include the following aspects in the assignment: Calculate each ‘self’s’ salary What type of job category would each ‘self’ be placed in? Determine how much money will be left after mandatory living expenses for each ‘self’ How will these finances impact your children, the next generation? Share your thoughts about the ethical impact of ‘stacked decks
Your boss is impressed with your performance over the past year and has decided to give you a 5% increase in your salary. Are you clearly better off with your increased salary? What factors must be considered?
QUESTION 14 The following is cost information for the Creamy Crisp Donut Company: Entrepreneur's potential earnings as a salaried worker= $50,000 Annual lease on building = $22,000 Annual revenue from operations $380,000 Payments to workers = S120,000 Utilities (electricity, water, disposal) costs S8,000 Value of entrepreneur's talent in the next best entrepreneurial activity $80,000 Entrepreneur's forgone interest on personal funds used to finance the business = S6,000 Refer to the data. 1- What is the Creamy Crisp's explicit costs are? 2- What is the Creamy Crisp's accounting profit ?
7 8 Part 3: Economic Ordering Quantity 9 1. Calculate the company's EOQ for Engine Valve A1100 (make sure to link values to the other tabs): 10 11 Estimated Annual Sales this year: 12 Ordering cost for each order: 13 Carrying Cost per unit 14 15 EOQ: 16 units units 17 2. Complete the table below by linking to the appropriate cells in the other tabs: 18 19 Order Size Total Total Carrying Cost Ordering Cost 24 20 21 28 29 30 22222222223 25 26 5 10 20 50 100 27 3. Create a graph of both the Carrying and Ordering cost. Make sure your EOQ ties to where the two lines cross. Rename your Chart to: Cost of Ordering & Carrying Inventory L
Complete the inventory table by calculating the total cost of purchases, the goods available for sale, the cost of the goods available for sale, and the ending inventory. Date of purchase Beginning inventory Units Cost per purchased unit 41 $830 Total cost Retail price Total retail per unit value $975
A firm is technically insolvent when: Multiple Choice it files the legal forms petitioning for bankruptcy protection. it has a negative net worth on its balance sheet. the value of its stock declines by more than 50 percent in any given 12-month period. it is unable to meet its financial obligations. the value of the firm's assets is less than the value of the firm's liabilities.
You run a school in Florida. Fixed monthly cost is $5,837.00 for rent and utilities, $6,127.00 is spent in salaries and $1,459.00 in insurance. Also every student adds up to $103.00 per month in stationary, food etc. You charge $684.00 per month from every student now. You are considering moving the school to another neighborhood where the rent and utilities will increase to $10,946.00, salaries to $6,128.00 and insurance to $2,040.00 per month. Variable cost per student will increase up to $166.00 per month. However you can charge $1,042.00 per student. How much do you currently charge per student? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Imagine a very talented young person who has just graduated from high school and has been offered a 4-year contract worth ten million dollars to play professional basketball for the LA Bakers, and has also received an offer of acceptance to UCLA with full fellowship. The fellowship covers her tuition, room, and board, along with a generous monthly stipend of 2500 dollars for living expenses for 4+1 years. Which of the following is true for this scenario? ( Remember: the cost of something is what you give up to get it!)A) The cost of the four years of college education for this person is very high, in the range of millions of dollars.B) The cost of the four-years of college education for this person is almost zero because of the generous fellowship and financial aid package she has received.C) The cost of the four years of college education for this is person is the sum of the tuition, room, and board expenses, plus the monthly stipend of 2500 dollars for 4 years.D) The rational choice…