Answer on Economics of Enterprise Question for fanura
Your firm has total sales revenue of $1,000,000 and total explicit costs of $600,000 and total implicit cost of $300,000. What will be the accounting profit for the firm? What will be the economic profit for the firm? Explain the difference using the data.
Implicit costs (or opportunity costs) represent the divergence between economic profit (total revenues minus total costs, where total costs are the sum of implicit and explicit costs) and accounting profit (total revenues minus only explicit costs). Since economic profit includes these extra opportunity costs, it will always be less than or equal to accounting profit.
Coded-to-spec, efficient, simple and accurate.
Nice use of the named constant const double NumDays::perday = 8.0; It's a C++ naming convention to make named constants all CAPS as a signal to the reader it is non-changing, when they see it used in the code. So perday would be PERDAY.
Nice job. Clean, efficient code that compiles and runs great. You created the different classes which interacted so well