In 2011, britney taught music and earned $20,000. she also earned $4,000 by renting out her basement. on january 1, 2012, she quit teaching, stopped renting out her basement, and began to use it as the office for her new website design business. during 2012, she paid $1,500 for the lease of a web server and $1,750 for high-speed internet service. she received a total revenue from web site designing of $45,000. normal profit (usual return of such an entrepreneur) is $25,000 a year. calculate britney's explicit costs, implicit costs, opportunity cost and economic profit in 2012. did britney operate her business at a profit or loss in 2012 (from economic viewpoint)? explain.

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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answerpublish a notice of the proposed rulemaking proceeding in the federal register;

since the options are not listed, when you are working on your budget you should also add water, tv, internet, miscellaneous and your 'fun' money for in your budget. when budgeting, you need to allow for fun money, and mis/accidental money so that you stick to the budget and not go crazy because you feel strapped to the budget.

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.