Define explicit cost and implicit cost
Briefly describe the term explicit cost and implicit cost?
Expert
Explicit cost is the cost that is outside to the business such as rent, wage and materials. It gives obvious depiction of the cash outflow from business that is employed to reduce the end outcome of profitability. This straightly influences the revenue of the company. Implicit cost is the end result of one person who tries to satisfy his wants in search of an activity that gives no reward to him through money or any other form of payment. It consists of reimbursement and satisfaction. For instance: goodwill. It is not counted up in terms of money and it is indirect insubstantial cost.
What does high or low operating leverage specify?
Briefly explain the term Price Earnings Ratio (or P/E Ratio)?
Elucidate how to maintain competition?
Which of the given describes a condition in which a good or service is produced at the lowest probable cost: w) productive efficiency. x) allocative efficiency. y) marginal efficiency. z) profit maximization Please
Economics professors would attribute students’ higher rates of attendance on days while examinations are administered to the: (w) intensified needs to learn valuable material. (x) higher opportunity costs of missing set relative to other schedul
The activities of speculators tend to, in the long run: (w) decrease the volatility of prices. (x) attract legal attention resulting in imprisonment. (y) increase the level and volatility of prices. (z) yield tremendous profits and raise costs to cons
Write short note on Demand?
Lets assume an infinitely repeated prisoner’s dilemma game by two players. The resulting payoffs at each phase by the actions of two players are illustrated below in the table (payoffs are symbolized like (payoff for player 1, payoff for player 2)). Two players
Describe the Promoting stability?
How can we compute operating leverage?
18,76,764
1950119 Asked
3,689
Active Tutors
1433036
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!