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9966 [12]
1 year ago
13

Raj opens up a lemonade stand for two hours. He spends $10 for ingredients and sells $60 worth of lemonade. In the same two hour

s, he could have mowed his neighbor’s lawn for $40. Raj has an accounting profit of________ and an economic profit of____________ .
Business
1 answer:
prisoha [69]1 year ago
6 0

Answer:

Accounting profit = $50

Economic profit = $10

Explanation:

Accounting profit = Revenue - Explicit cost

 $60 - $10 = $50

Economic profit = Accounting profit - Opportunity cost

$50 - $40 = $10

I hope my answer helps you

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1 year ago
During a period of rising prices, using fifo (first-in, first-out) inventory valuation method will result in ________ net income
dlinn [17]
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kolbaska11 [484]

Answer:

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natima [27]

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c-chart

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