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Jamie is considering leaving her current job, Which pays, $75,000 per year, to start a new company that develops applications for smart phones. Based on market research, she can sell about 50,000 units during the first year at a price of $4 per unit. With annual overhead costs and operating expenses amounting to $145, 000 Jamie expects a profit margin of 20 percent. This margin is 5 percent larger than that of her largest competitor, Apps, Inc. A. If jamie decides to embark on her new venture, what will her accounting costs be during the first year of operation? Her implicit costs? Her opportunity costs/ B. Suppose that Jamie's estimated selling price is lower than originally projected during the first year. How much revenue would she need in order to earn positive accounting profits? Positive economic profits?
q.exercise 1graphically represent on the islmfx diagram the effects of the following cases use a new diagram for each
An entrepreneur needs funds for a project. He has funds of his own, but enough to cover the required investment of $100. If the entrepreneur doesn’t misbehave, the project will succeed with probability .9, yielding a gross return of 120 in one year. ..
A faculty member sells Gatorade at UNC Charlotte football games. He finds that if he raises his selling price by $1, he sells 5 less bottles each week. He turns over the operation to a Managerial Economics student for a week. What price did the stude..
A firm has estimated the following demand function for its product: Q = 8 - 2P + 0.101I + A where Q is quantity demanded per month in thousands, P is the product price, calculate values for quantity demanded, price elasticity of demand, income elasti..
Suppose the Quick Towing Company purchases a new tow truck. The old truck had a book value of $1,000 and was sold for $1,420. If Quick Towing is in the 34 percent marginal tax bracket, what is the tax liability on the sale of the truck? What is the a..
Using any relevant information below, calculate GDP via the expenditure approach. Nominal GDP in Nowhereland in 2002 and 2003 increased from $4 trillion to $4.8 trillion. Can you say that the production of goods and services in Nowhereland has increa..
Calculate the four combinations of outputs of corn and rice for these 4 plans.
At the beginning of 2009, a government had a total debt of $540 billion dollars. It ended 2009 with a $6 billion dollar budget surplus. In 2010, its budget surplus reached $8 billion dollars. What is the total debt of the government equal to at the e..
Research a Fortune 500 company. Examine the company's social responsibility policies. How does the company demonstrate its duty?
Recall the formula that states that $V = 1/P, where V is the value of the dollar and P is the price level. If the price level falls from 1 to 0.75, what will happen to the value of the dollar?
What indictors are evident that there is too much or too little money within the economy? How is monetary policy aiming to adjust this?
Anyone who has ever eaten crabs from the Chesapeake Bay knows that the quality of crab cakes declines with the square of the distance from the Bay. Thus, one should never order crab cakes at Red Lobster, for example. Unfortunately, crabs have been ov..
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