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Suppose Professor Donald spends $5,000 per year on tax supplies and Cube Smart storage space. He recently received two job offers from a XYZ marketing firm- one offer were for $ 60,000 per year, and the other was for $50,000. However, she turned both jobs down to continue her tax preparation business and storage firm. If Donald sells 10 paintings per year at a price of $9,000 each:
a. What is her total revenue? Explain
b. What are her accounting profits? Show your steps leading to your answer
c. What are her economic profits? Show your work!
d. Which type of profit ( accounting or economic profit) reflects the best use of her time? Explain
Unions in the United States are at an all-time low and continuing to decline. Why? What has changed in our working and legal environment that has resulted in this situation?
Select a United States of America government investment project and a private investment project in the United States of America. After selecting the government and private sector project, you first must write a short review of them and then express ..
Illustrate with a diagram the market for apartments after the price ceiling is imposed and show on your diagram the excess demand in the market, the consumer surplus, the producer surplus, and the deadweight loss resulting from the price ceiling.
you will explain the impact of employment and unemployment in a free market economy. The country of France legislated the maximum length of a workweek. Because Americans tend to work more hours than Europeans, should the US government also legislate ..
Easterly (2012) presents the tale of Thomas Cresap in “Intermezzo: In Search of a River” (pages 16-19) and concludes that Cresap was pulled out of poverty. Please discuss the economic growth detailed in the story and how poverty was reduced.
Which of the following would not lead to a shift of the demand curve for apples?
How is DNA testing different from other types of evidence like eye witness accounts or hair analysis?
Which of the following is NOT an example of a process designed to combat moral hazard problems?
The title Where Angels Fear to Tread is taken from Alexander Pope’s An Essay on Criticism. What is the full quotation and what does it mean? How does this phrase describe the events that take place in this novel? Is this a good title for the novel? W..
Consider the market for corn in the United States. Suppose that the mandated percentage of ethanol in gasoline is increased and at the same time a corn blight destroys a significant portion of the corn crop. Using a supply and demand diagram, show wh..
Suppose the price elasticity of demand for heating oil is 0.2 in the short run and 0.7 in the long run. If the price of heating oil rises from $1.80 to $2.20 per gallon, the quantity of heating oil demanded in the short run will by in the short run..
The characteristics of market structure make quality competition more likely than price competition? Which type of competition is more desirable from your viewpoint? Discuss.
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