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Economan has been infected by the free enterprise bug. He sets up a form on extraterrestrial affairs. The rent of the building is 4,000, the cost of the two secretaries is 40,000, and the cost of electricity and gas comes to 5,000. There's a great demand for his information, and his total revenue amounts to 10,000. By working in the firm, though, Economan forfeits the 50,000 he could earn by working for the friendly space agency and the 4,000 he could have earned as interest had he saved his funds instead of putting them in this business.
a. What is his profit or loss by an accountant's definitions?
b. What is his profit or loss by an economist's definitions?
A person should consume more of something when its marginal A. cost equals its marginal benefit. B. benefit is still positive. C. cost exceeds its marginal benefit. D. benefit exceeds its marginal cost
Suppose it is decided that rent control in New York City will be abolished and that market rents will now prevail. Assume that all rental units are identical and so are offered at the same rent. Use a diagram to show the effect on the rental market ..
Jet Blue Corporation continuously offers fare discounts to attract customers awareness about the company, increase market share and increase revenues on the routes in the USA market.
A major electronics manufacturer expects to generate additional revenue from its recently won government contract. The company forecasts that the revenue will be $108,937 million in the first year, but will decline by $2,295 million every year for th..
XSU is located in the middle of a residential neighborhood. The residents of the surrounding 4 blocks notice that street parking is a problem while classes are in session. Explain under what conditions (if any) the building of additional parking lots..
Delineate which marketplace participants you believe benefited from the final court decision also whose interests were harmed.
The government increases taxes by $6200 in an economy where households spend 92% of each additional dollar they earn. Calculate the total effect on output (or aggregate demand). Carefully follow all numeric instructions. Round any intermediate steps ..
Identify also converse at least two arguments which support trade restrictions also two Once modest trade restrictions.
Elucidate his production potential. In one person economy could this also be his budget line.
Maxi-mum corporation is looking at two major projects either of which, if successful. could put maxi-mum at the top of management consulting industry section. The project is $14,000,000 contract to help a fortune 100 company its corporate culture. Ex..
Define the Demand Curve, and distinguish between Demand and Quantity Demanded. Define the Supply Curve, and distinguish between Supply and Quantity Supplied. Define Equilibrium in an economics context. (A statement such as “balance” is insufficient).
Super Cola is also considering the introduction of a root beer drink. The company feels that the probability that the product will be a success is .6. The payoff table is as follows: Success (s1) Failure (s2) Produce (d1) $250,000 -$300,000 Do Not Pr..
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