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 21,830 Rent Salary-Legal Assistant Computer Software License Office Supplies Internet Subscription 120 800 1,750 How much are Jordan's explicit costs? Number How much is Jordan's accounting profit? Number How much are Jordan's implicit costs? Number 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: What is the change in Jordan's explicit costs? Number Number What is the change in Jordan's implicit costs?

Q: Remember that Molly has a $2500 down payment saved for this purchase. The dealer will take the $500…

A: The loan is the amount of money which would result in the amount of money borrowed and used for…

Q: In 2020, the annual wage "ceiling for workers aged 62-64 was $18,240 How large of a monthly Social…

A: The annual wage ceiling for workers who belong to the age group of 62-64 is $18,240. The maximum…

Q: month. (Green power is generated from solar, wind power, and methane sources.). a. If a certain…

A: The Average Cost is the per unit cost of production obtained by dividing the total cost (TC) by the…

Q: Carson used $800 000 of their savings to open a coffee shop. The savings account paid 2% interest.…

A: We know that the economic profit is the difference between the total sales revenue of output and the…

Q: Joan Zorba orders calculators for her office supply stores. Each calculator cost $35, currently she…

A: EOQ =  Square root ( 2 x Co x D / Ch ) Where , D = Annual demand = 5 / day x  6 days/ week x 52…

Q: For Elizabeth, one of the most exciting aspects of landing a full-time job was being able to buy a…

A: The average total cost is calculated by dividing the total cost of production by the total output.…

Q: Marissa, a single mother with one child, can’t seem to make ends meet. Rent and utilities eat up…

A: The Supplemental Nutrition Assistance Program (SNAP, formerly the Food Stamp Program) is available…

Q: student will increase up to $190.00 per month. However you can charge $1,072.00 per student. At what…

A: Fixed costs are costs that do not change with the level of output or production. They are incurred…

Q: Which criteria would be more meaningful in allocating rent? Building value per department…

A: Cost allocation refers to an approach of identification, accumulation, and assigning costs to costs…

Q: Fire and Flower Holdings Corporation of Ottawa produce computer memory sticks. If the price of the…

A: The company Fire and Flower Holdings is included in the licence market. As a computer memory stick…

Q: Alexa Walsh sells for Supreme Designs , a manufacturer of women's clothing . Alexa is paid a…

A: Gross pay refers to the remuneration received by a human capital of an organization before any…

Q: new cruise missile guidance control. The i rst unit took 4,000 hours to complete and cost $30,000 in…

A: Answer a) 80% of the 22nd unit = 0.369770% of the 22nd unit = 0.2038 Hours in 22nd units = 0.3697 x…

Q: Marsha Jones has bought a used Mercedes horse transporter for her Connecticut estate. It cost…

A: Cost of renting : Fixed Charge = 201 per day  Variable Cost (100 miles ) =  1.05* 100 = 105  Tip =…

Q: Assume you are selling pizzas at $3 per pizza Your fixed costs (rent, salaries, and utilities) are…

A: At Break Even Point, total revenue is equal to total cost. A firm neither earns profit nor incur…

Q: n 2004, Safari Corporation’s total sales reached $1.2 million. By 2010, sales had climbed to $4.25…

A: sales growth rate means the rate at which the sales is increasing per year. growth gives the trends…

Q: What is the plaintiff's best argument to establish that Dean Brother's Corp. is responsible for…

A: Answer (a) The plaintiff's best argument that Dean is liable for BSP's is that BSP is accountable…

Q: What is the monthly profit or loss if the company stays with Clunker and sells 90,000 bags per​…

A: Profit is the difference between the total revenue and total cost.  Total revenue is the product of…

Q: Manuel lives in Philadelphia and runs a business that sells pianos. In an average year, he receives…

A: Implicit cost is the foregone income that could have been earned if resources were invested…

Q: Classifieds NURSES NO EXPERIENCE REQUIRED St. Bart's Hospital seek RN and LVN, with minimum two…

A: Eqm wage rate is determined by the intersection of dd(demand for labor) and ss(supply) of labor.…

Q: If rent, royalty and interest are all same values and are $300 million and the value of profit is…

A: The information being given to us is as follows:- Rent = $300 million Royalty = $300 million…

Q: consumption (units/year) 2500 2000 1500 1000 500 05 10 15 20 25 30 35 40 45 leisure (weeks/year) Ron…

A: Labour market consists demand and supply for a labour and interaction between them give rise to…

Q: This is for a study guide (not for a grade) please do not decline question Using graph below  An…

A: The exchange rate can be expressed in 2 ways: A) Price of domestic currency in terms of foreign…

Q: The main office of a large bank has an annualturnover of 500 office workers. As an employmentofficer…

A: There could exist a variety of reasons for obtaining replacement employees for an organization. This…

Q: is currently earning $44,000 a year. He has worked for this firm for 5 years. He is considering a…

A: If Mark takes the job and attends the Ph.D program, he will have to give up the salary which he is…