Business, 25.06.2021 01:00 chrisboykashifre1999

Darnell lives in Philadelphia and runs a business that sells pianos. In an average year, he receives $842,000 from selling pianos. Of this sales revenue, he must pay the manufacturer a wholesale cost of $452,000; he also pays wages and utility bills totaling $301,000. He owns his showroom; if he chooses to rent it out, he will receive $38,000 in rent per year. Assume that the value of this showroom does not depreciate over the year. Also, if Darnell does not operate this piano business, he can work as an accountant and receive an annual salary of $48,000 with no additional monetary costs. No other costs are incurred in running this piano business. Identify each of Darnell's costs in the following table as either an implicit cost or an explicit cost of selling pianos.
Implicit Cost Explicit Cost
The wholesale cost for the pianos that Darnell pays the manufacturer
The salary Darnell could earn if he worked as an accountant
The wages and utility bills that Darnell pays
The rental income Darnell could receive if he chose to rent out his showroom.

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Answer from: sunny644

The wholesale cost for the pianos that Darnell pays the manufacturer - explicit cost

The salary Darnell could earn if he worked as an accountant - implicit cost

The wages and utility bills that Darnell pays - explicit cost

The rental income Darnell could receive if he chose to rent out his showroom.-implicit cost

Explanation:

Explicit cost includes the amount expended in running the business.

They include rent , salary and cost of raw materials

Explicit cost is used in determining accounting profit

Implicit cost or opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives

Implicit cost is used in determining economic profit

If Darnell didn't use his showroom, he could have rented it out. Renting it out is his next best option that was forgone. Thus, it is an implicit cost

If Darnell didn't start his business, he could have been working as an accountant. The amount he could have earned as an accountant is his implicit cost

Answer from: Quest

When odysseus hurts him.the cyclops is drunk and blubbering. he promises to eat odysseus last of all the men as an expression of gratitude for the wine. odysseusand his men tie themselves to the undersides of the cyclops' sheep/rams so they can escape when the cyclops lets the animals out to graze.: )

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With reference to the solutions, following things may be noted1) homogeneous solutions comprises of single phase.2) heterogeneous solution comprises of more than one phase.3) in colloidal solution, solute is evenly distributed in solvent. in such system, it is difficult to separate solute and solvent.4) in suspension, there is an uneven distribution of solute in solvent. in such system, solute and solvent gets separated on standing long. blood is a homogeneous and colloidal solution,salad dressing is a heterogeneous and suspension solution.

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Darnell lives in Philadelphia and runs a business that sells pianos. In an average year, he receives...

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