Mrs Tobani who was earning an annual income of K4,000 decided to go into business in 2014 by investing his capital which was earning a return of K2,400. In 2014 his accounting profit was K6,000. Calculate: -Mrs Tobani’s total opportunity cost. -His economic profit.
QUESTION 2
Mrs Tobani who was earning an annual income of K4,000 decided to go into business in 2014 by investing his capital which was earning a return of K2,400. In 2014 his accounting profit was K6,000.
Calculate:
-Mrs Tobani’s total
- A retail store conducted a study of the demand for trousers. It found that the average daily demand (Q) in terms of price (P) is given by the equation.Q = 700 – 5P
-How many trousers per day can the store expect to sell at a price of K100 per trouser?
-If the store wants to sell 1000 trousers per day, what price should it charge?
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