Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Business Economics Expert

Ben quit his job as an economics professor to become a gold professional. He gave up his $30,000 salary and invested his retirement fund of $50,000 (which was earning 10 percent interest) in this venture. After all expenses, his net winnings were $35,000. Ben's economic profits were ______________ ?

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M92202355

Have any Question?


Related Questions in Business Economics

Why should we take selection and participation bias into

Why should we take selection and participation bias into account when analyzing data

Assume 20 of customers who enter a clothing store make a

Assume 20% of customers who enter a clothing store make a purchase and customers behave independently of one another. Ten customers enter the store in the next hour. The salesman on duty makes $20 per hour plus a $10 com ...

Find the more for the pay rates in the given

Find the more for the pay rates in the given frequency hourly rate: 8:50, 11, 15, 19.50 frequency: 7, 5,10,4 In math course the average final exam score is 84 with a standard deviation of 5. Find the test score that corr ...

The blood glucose levels of wistar rats measured 2 hours

The blood glucose levels of Wistar rats measured 2 hours after eating (Postprandial Blood Glucose - PBG) are approximately normally distributed with mean 5.65 mmol/L and standard deviation 1.63 mmol/L. If a Wistar rat is ...

You have developed a paper-pencil survey that you claim

You have developed a paper-pencil survey that you claim measures "love of pets." To establish its validity, you do the following: correlate scores on it with the number of pets a person has; correlate scores on it with h ...

The time to complete 1 construction project for company a

The time to complete 1 construction project for company A is exponentially distributed with a mean of 1 year. Therefore: (a) What is the probability that a project will be finished in one and half years? (b) What is the ...

Tests can determine with some degree of accuracy whether a

Tests can determine, with some degree of accuracy, whether a subject indeed has the disease for which s/he is being tested. For instance, a new screening procedure for heart disease was tested on 100 patients with heart ...

One hundred twenty-five marine recruits participated in a

One hundred twenty-five marine recruits participated in a study to assess the benefits of a strength training program. Each recruit was given a push-up test at the beginning and end of the program. The change in number o ...

Mormons have a mission requirement to be admitted into

Mormons have a mission requirement to be admitted into their church. On average, the probability of converting someone is .03. How many people will Mormons on their mission have to interact with to ensure there is a prob ...

A bag contains 15 red marbles and 13 blue marbles two

A bag contains 15 red marbles and 13 blue marbles. Two marbles are randomly drawn without replacement. Find the probability that both marbles are red.

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As