User Account

All Pages

Economic profit in the first year

Assignment Help Macroeconomics
Reference no: EM131334813

Sam runs a shoeshine stand at the airport. Sam has no skills, no job experience, and no alternative employment.Entrepreneurs in the shoeshine stand business earn $12,000 a year. Sam pays the rent of $1,500 a year, and his total revenue is $15,000 a year.He borrowed $600 at 15% a year to buy equipment.At the end of one year, Sam was offered $300 for his business and all its equipment.

What are Sam's explicit costs? Implicit cost? and economic profit in the first year?

Reference no: EM131334813

Questions Cloud

Calculate the total capacitance : That is, determine the total number of possibilities, and ask the user to identify the configuration and provide the capacitor values. Then calculate the total capacitance.
Discuss what is meant by demand-side fiscal policy : Discuss what is meant by demand-side fiscal policy and supply-side fiscal policy. When the economy enters a recessionary gap, state how the government would use a demand side fiscal policy and how the government would use a supply side fiscal poli..
Explain how a crisis situation affects community health : Explain the factors that affect the health of communities. Explain how a crisis situation affects community health. Develop an evidence-based nursing response for providing health care services related to community crises
Find the flux density in the core : Sketch the magnetic flux lines and indicate their direction.
Economic profit in the first year : What are Sam's explicit costs? Implicit cost? and economic profit in the first year?
Equilibrium price level and the equilibrium level : What is the equilibrium price level and the equilibrium level of real output in this hypothetical economy? Use Excel to graph both the aggregate demand and aggregate supply curves. Can there be equilibrium level of output at below full employment?
What would the nurse use as a guide for this care : HCA 340 Cultural Diversity in Health and Illness Final Examination. The nurse is planning care to address health care needs for a non-English-speaking patient and family. What would the nurse use as a guide for this care
How much energy is stored by the capacitor : After a picture is taken, the capacitor has to be recharged by a power supply that delivers a maximum current of 10 mA. How long will it take to charge the capacitor
Which of the four quadrants of the bcg matrix you feel : Research a company of your choice and determine which of the four quadrants of the BCG Matrix you feel it fits into. Justify your response using information about the company.

Reviews

Write a Review

Macroeconomics Questions & Answers

  Inflation targeting be a good policy

Why might it be difficult for the Fed to formally adopt inflation targeting?  Would inflation targeting be a good policy for the Fed in the present economic environment

  In using the taylor rule

In using the Taylor Rule as a guideline for monetary policy, what are the pros and cons of using forecasted values of inflation and output rather than observed values of these variables?

  Describe the present economic crisis situation in europe

Describe the present economic crisis situation in Europe.  Why has it been so difficult for the Europeans to find a solution to this problem?   Comment on what implications the crisis may have for the rest of the world if Europeans are not able to ag..

  Long-term federal government budget problems

Question:. Explain why there are long-term Federal government budget problems. Explain why the base-line forecast of the CBO is misleading.

  Derive and compare demand curve

Question based on Derive and compare demand curve,  Derive Ambrose's demand function for peanuts. How does it compare with Johnny's demand curve for peanuts?

  Problem based on utility function

Problem based on  Utility Function - Problem,  Answer and explain the following using a diagram which is completely labeled.

  Laffer curve : tax rate and tax revenue

Question based on Laffer Curve : Tax Rate and Tax Revenue,  Do raising tax rates necessarily raise tax revenue? What factors affect how tax revenue changes when tax rates change?

  Problem - income elasticity of demand

Problem - Income Elasticity of Demand,  Interpret the following Income Elasticities of Demand (YED) values for the following and state if the good is normal or inferior; YED= +0.5 and YED= -2.5

  Positive balance of payment

Question Positive Balance of Payment: "Things will look good for the US if we could just get to where we are consistently running a positive Balance of Payments."

  Effect of recession on the investment curve

Comment on the effect of a recession on the investment curve (only) and on the level of savings, investment, and the equilibrium real interest rate in the financial crisis that hits United States first starting in fall 2007.

  Affect of falling domestic investment on trade surplus and

How will a fall in domestic investment affect the trade surplus and net capital outflows in the domestic economy, the trade deficit and capital inflows in the rest of the world.

  Crises in the banking sector and bank run

Banking crises crisis decreases depositors' confidence in the banking system. What would be the effect of a rumor about a banking crisis on checkable deposits in such a country?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd