Mr Blowfish Opened a Seafood Store in December

question 242

Essay

Mr. Blowfish opened a seafood store in December. He borrowed $60,000 from a bank at an annual interest rate of 8 percent. He used the funds he borrowed to purchase $60,000 of capital equipment. Over the year, he rented a building for $50,000 a year. During the first year of operation, Blowfish paid $45,000 to his employees, $20,000 for utilities, and $25,000 for raw fish he bought from other firms. In December of the next year, the market value of his capital was $50,000. Blowfish's best alternative to running the seafood store is to work for a grocery store as a sales clerk for $20,000 a year.
a) What is the economic depreciation of Blowfish's capital?
b) What are Blowfish's total opportunity costs?
c) What is Blowfish's economic profit?

Understand the significance of high-performance teams turning general purposes into specific performance objectives.

Comprehend the importance of core values and the right mix of skills in high-performance teams.

Acknowledge the process of team building including its steps and challenges involved.

Understand the concepts of norms, inter-team dynamics, and the impact of cohesiveness on team performance.

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Definitions:

Unrequited Love

A type of love where one person's feelings are not reciprocated by the other.

Being Rejected

The experience of being dismissed or turned away by individuals or groups, leading to feelings of exclusion and hurt.

Bad Apple Effect

The phenomenon where the negative behaviors of a single group member can disproportionately influence the group's performance or cohesion.

Deviant

Behaving or straying from the accepted norms or standards of a society or group.