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Three students consider the option of forming a lawn care and landscaping business during their summer vacation. They estimate the following costs: Insurance $2,600; Equipment Rental Fees $1,000; Fuel and Supplies $4 per lawn serviced and Miscellaneous expenses $2 per lawn serviced the projected revenue depends on the number of lawns serviced. The price per job is EC$30. The going wage for a typical unskilled university student is approximately $2,400 for the summer months. a) Derive an equation for total accounting cost and total economic profit
Increase in both labor and capital productivity will result in:
Select the scenarios that result in lower prices if they were to occur in isolation? If the price of substitute increased the result would be __________ prices, and we would say__________. Consumers can make costly mistakes when not enough informatio..
A firm produces a product in a competitive industry and has a total cost function (TC) of TC(q)=90+8q+2q2 and a marginal cost function (MC) of MC(q)=8+4q.
the poster bed company believes that its industry can best be classified as monopolistically competitive. an analysis
the economic analysis division of mapco enterprise has estimated the demand function for its line of weed trimmers asqp
The art of economics consists in looking notmerely at the immediate but at the longer effects of any act o rpolicy; it consists in tracing the consequences of that policy notmerely for one group but for all groups.
Evaluate the cash flow for each year relevant to the analysis. Make a table of cash flows, by year. Compute the net present value of the proposed outpatient clinic. Should the administrator recommend the hospital's trustees that the clinic be built? ..
The monthly rental rate for a satellite dish antenna is $200. There are 100 residents in the condominium community. The maximum marginal benefit any resident will obtain from the antenna is $50 per month.
What are the Two General Theorems of Welfare Economics? What implications do they have for the “welfare state”? What are the ‘first best’ assumptions necessary for these theorems to hold? How realistic are these assumptions?
Presume you are interested in using time series data to estimate the following population model: yt = β0 + β1xt + β2xt-1 + β3xt-2 + β4zt-1 + ut a. Based on this population model, how much would you expect y to change among period 0 and period 4 ..
What are the advantages and disadvantages of free trade From an economic point of view, is free trade better than limited or no trade Have you benefited from free trade how How is the economy impacted by trade
would you expect the price elasticity of demand to be higher at the level of an individual school or at the aggregate
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