Given the Information That Follows,how Much Are (A)accounting Profits? (B)economic

question 187

Essay

Given the information that follows,how much are (a)accounting profits? (b)economic profits? Sales: $2 million;explicit costs: $1 million;wages you and your family members could have earned doing the same work for another firm: $150,000;return you could have earned by investing your money elsewhere: $100,000

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Definitions:

Vroom-Jago

A decision-making model that focuses on how leaders can choose the most effective decision-making style based on the nature of the decision situation.

Leader-Participation Model

A leadership theory that suggests the ideal leadership style depends on various situational factors, including the nature of the task and the relationship between the leader and the followers.

Authority Decision

A decision-making process where decisions are made by individuals in positions of authority, often without consulting those who will be affected by the decisions.

Vroom-Jago

A leadership model that emphasizes decision-making processes and involves evaluating the situation to choose the best leadership style.