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"A few years ago a construction manager earning $70,000 per year working for a regional home builder decided to open his own home building company. He took $100,000 out of one of his investment accounts that had been earning around 6% a year and used that money to start up the business. He worked hard the first year, hiring one employee (his only salary cost for the business was the $40,000 paid to this employee), and generated total sales of $1,000,000. Total material and subcontracted labor costs for the year were $900,000. Calculate accounting profit. What are the opportunity costs for the manager of being in this business relative to returning to his old job? What is the economic profit of the business?"
Calculate the initial level of output per person, the growth rate of output per person also the level of output per person after 100 years.
Compare the competitive price charged and quantity produced under perfect competition and monopoly. Other than identifying the presence of only one producer under monopoly, why do we tend to see this differential.
Illustrate what are some of the benefits also costs which contribute to your customer value from each of the subsequent products.
Explain how would each of these traps impact the production possibilities frontier.
Elucidate how much income did this represent for each of the 300 million U.S. citizens. Illustrate what was the largest GDP decline in a postwar U.S. recession.
At this level of pollution, what is the marginal cost of pollution control.
Based on some economists' definition of the relevant market, the two firms proposing to merge enjoyed a combined market share of about two-thirds, while another firm essentially controlled the remaining share of the market.
Assume there are two firms in a market who each simultaneously choose a quantity.
Dane decides to give up a job earning $100,000 every year as a corporate lawyer also converts the duplex that he owns into a UFO museum had been renting the duplex for $20,000 a year.
Discuss five non-bank financial intermediaries in the American economy,relate what each one does and how it gets money.
determine either the demand for student employees by the restaurant would increase, decrease, or remain unchanged.
Suddenly, 20,000 people immigrate from abroad and initially settle in the West. Elucidate why they possess the same skills as the native residents and also supply their labor inelastically.
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