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Sam was working full time, earning $40,000 a year, when he quit his job to attend university. In his first year at university, tuition was $9,000 and books were $950. He got a job during the summer and earned $8,000. What was Sam's economic profit (or loss) from this first year?
Does the widget production function exhibit constant, increasing or decreasing returns to scale.
A college student has been looking for tires and has found the following: Tire Warranty for Tire A is 6 months at a price per tire of $31.59. What is MONTHLY worth/cost of Tire A if we consider annual interest rates are at 10%?
Beatriz enjoys writing and uses a large amount of paper. Currently, paper costs 2 cents per sheet. The formula for her demand curve is S = 52500 – 5000PS, where PS is the price of and S is the number of sheets purchased. The governor of her state pro..
The Teenager Company makes and sells skateboards at an average price of $70 each. During the past year, they sold 4,000 of these skateboards. The company believes that the price elasticity for this product is about -2.5. What was total revenue for th..
This profitable corporation is considering two methods of depreciation: sum of years' digits and double declining balance.
For this assignment, you will create a network management strategy. Such a strategy can add value to your network by improving and updating your monitoring tools and ensuring that you are up to date with all of the processes and procedures needed ..
Shopping malls typically lease retail space to a large number of clothing stores. When this group of retailers competes to sell similar but not identical products, they engage in what economists call ________________________.
For any country of your choice (besides the United States), conduct research into the cultural characteristics and summarize these characteristics.
Name two products and two services whose production depends heavily on low- skilled labor. b. What would happen to the wages of the remaining low-skilled, legal workers after the deportations? c. What would happen to the prices of the goods and servi..
Aggregate demand can be defined as:
Assume that for a particular demand curve, when price is $60, quantity demanded is 130, and when price is $50, quantity demanded is 175. without calculating the coefficient of elasticity, is demand over this range elastic or inelastic? How do you kno..
Describe a pricing decision your company has made. Was it optimal? If not, why not? How would you adjust the price? Compute the profit consequences of the change.
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