Assignment # 1
1. Why should managers use study supply, demand and their elasticities?
2. What is the difference between Accounting and Economic Profit?
3-2 House Closing
Youve entered into a contract to purchase a new house, and the closing is scheduled for next week. Its typical for some last-minute bargaining to occur at the closing table, where sellers often try to tack on extra fees. You have three options for the closing: (1) attend yourself, (2) send an attorney authorized to close only per the previously negotiated terms, or (3) pre-sign all the closing documents per the current terms and not attend the closing. Consider each bargaining position; which position would you go with and why?
Accounting profit and economic profit are two very different concepts. Accounting profits are made up of all the revenues from the sale of goods and services minus all costs. Economic profits are made up of revenues from selling products or services, after subtracting costs that don’t directly relate to the selling of these products or services. So what’s the difference between accounting profit and economic profit? Why would you want to know about this? Let’s take a look at how they’re calculated so we can better understand why knowing them matters:
Accounting profit is a measure of how much money can be made if you had additional resources at your disposal. It’s the difference between accounting profit and opportunity cost, which is the value of what would have been produced by those resources if they were used for their highest and best economic use (i.e., production).
Economic profit is a measure of how much money can be made given current prices and market conditions (i.e., supply and demand). Economic profits are calculated as follows:
Accounting profit is the amount of money that goes into your bank account after you sell goods and services. It’s made up of revenues minus all costs, including labor and materials. The difference between accounting profit and economic profit is that the latter includes a capitalized cost of depreciation on fixed assets, which is subtracted from gross margin before calculating net income.
Economic profits are made up of revenue from selling products or services, after subtracting costs that don’t directly relate to the selling of these products or services. Revenue is the money you make from selling products or services and it includes all cash inflows from customers (including sales), T&E costs, interest income and any other sources that contribute to your bottom line.
Costs can be classified into three categories: direct cost, non-direct costs, and capital expenditure. Direct costs are those that directly relate to making your product or service; for example wages paid by your company for employees who create the product; rent on space where your factory is located; utilities used in production processes such as electricity and water usage etc., capital expenditure includes long term investments such as purchasing new equipment which will last longer than 1 year but still being depreciated over time using straight line depreciation method rather than double declining balance method because these types of investments require significant financial resources upfront before they generate any returns later downline when production levels increase significantly due
Accounting profit (revenues minus cost) is useful because it shows you how much money you can make in a particular period, while economic profits (revenues minus cost plus non-economic costs) is useful because it tells you how much money can be made if you had additional resources at your disposal.
Accounting profit is also important because it shows a company’s financial position and enables them to plan future operations. Economic profit is more difficult to calculate since it involves taking into account many factors, including fixed costs and variable costs.
Accounting profits are useful because they allow you to compare your company’s performance with that of its competitors. However, economic profits can be more useful since they represent how much money could be made if you had additional resources at your disposal.
WOULD YOU LIKE A CUSTOM ESSAY JUST FOR YOU? Get Assignment Help- Confidentially! Why Choose Ace Writing Center? ***Absolutely NO Plagiarism. ***All writing is original. ***Guaranteed Top Grade. ***24/7 Support ***100% Money Back Guarantee ***Free revision
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
Ace Writing Center has stood as the world’s leading custom essay writing services providers. Once you enter all the details in the order form under the place order button, the rest is up to us.
At Ace Writing Center, Nowadays, students normally have extremely busy schedules. You will note that some of them have to take on some evening or weekend jobs in order to get some income that can help them to sustain in college or in the university. This can deny them a chance to write all the essays given. Others usually get bombarded with a lot of work by their lecturers. This can still delay such students from working on all their essays. However, some of them usually try to work on all these essays but end up delivering their work late. This can prevent them from graduating since most lecturers are strict on deadlines. If you want to write a business essay, the wise way is to hire an outstanding essay writing service like us, so that you can get the best results. If you are keen, you will note that many companies usually overcharge their customers. Some of them are there only to make money. And in reality, they really don’t care to build a long term commitment with students. You should not choose such companies. You should take your time and choose a reliable company to work with. Ace Writing Center is the ultimate solution for you. We have been offering our writing service for more than 7 years. This is a clear indication that you will get quality essay writing service. We have a wide range of writers who can work on any business essay that you might have. We believe in doing extensive research so that we can provide quality work to all our clients. .
Admission and Business Papers
Have you ever had to write an admission essay for college? The majority of students face the same issues when applying to a university or college and many in such situations decide they need professional help to cope with this matter. They get in a situation when the deadline keeps coming closer but lack motivation to start because they are just not sure if their writing skills are strong enough. We have a solution for you! Ace Writing Center is the best admission essay writing service with a large professional team and years of experience in providing high-quality papers to students of all levels and faculties. The mission of our team is to help students make their dreams of entering a good college come true and that’s what we offer!.
Editing and Proofreading
Sometimes all the words for your paper just flow out of your mind and into your fingers. You type quickly at your keyboard and there they are, your beautiful words right there on the screen. But you have no idea how to polish it up. You may be wishing there was a paper writing service that offered this type of writing service. Look no more! Here at Ace Writing Center, we offer you an editing and proofreading option that you can't find anywhere else..
College Essay Writing
In case you are familiar Ace Writing Center, you know the way to distinguish a better company from a cheap one exactly. First of all, poor service website does not have a sufficient support. We think support team is an essential part of success; it has to answer all clients’ questions and be a connecting link between clients and their writers. On our web-service you will get answers about anything you need and your writer will receive all your instructions, assignments and requirements exactly and swiftly. A writing service that we run has got a flexible pricing system that will save you from senseless wastes and many bonus systems that let you sparing money for something important for you.