Which of the following represents an economic cost, but not an accounting cost, of building and running a summer resort? (Select all that apply.) The wages paid to the workers hired to run the resort and tend to its guests. The wages lost by the owner in pursuing his own venture, instead of working for an already established resort. The cost of materials to build the main hotel, pools and guesthouses. The money foregone by using the land on which the resort will stand, instead of selling it or using it for another venture. The cost of hiring accountants to keep track of the company’s books.

Which statement describes a monopoly? many firms produce identical products with no control over the market price. many firms produce differentiated products with control over market price. a single firm produces a product with no close substitutes and control over the market price. a single firm produces a product with many close substitutes and limited control over the market price.

while setting up his new office, an attorney ordered thick, frieze carpets for the floor. however, the building inspector had him remove the expensive carpeting. the building inspector stated that according to federal regulations, the office must be wheelchair accessible as it is a public area. he further explained that since wheelchairs do not maneuver well in thick, frieze carpeting, the carpets had to be removed and be replaced with smooth-textured carpets that do not restrict wheelchair maneuverability. this scenario illustrates how a company is influenced by the component of its specific environment.

Salt corporation's contribution margin ratio is 78% and its fixed monthly expenses are $30,000. assume that the company's sales for may are expected to be $89,000. required: estimate the company's net operating income for may, assuming that the fixed monthly expenses do not change.