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Jaynet spends $25,000 per year on painting supplies and storage space. She recently received two job offers from a famous marketing firm - one offer was for $125,000 per year, and the other was for $105,000. However, she turned both jobs down to continue a painting career. If Jaynet sells 35 paintings per year at a price of $5,000 each:
a. What are her accounting profits?
b. What are her economic profits?
Please give a definition for both accounting profit and economic profit and show step-by-step calculations for both.
Consider a sharecropper whose contract calls for him to receive ¾ of the output produced in the farm on which he works. Suppose that the value of the marginal product of labor on the shared cropped land is given by 80-L. Where L stands for hours o..
roberts new way vacuum cleaner company is a newly started small business that produces vacuum cleaners and belongs to a
Write an introduction that states the purpose of the document; the name of the fictitious company, its location, and its import strategy; and a summary of the subjects that will be covered in the plan.
Suppose that you agree with the 16-percent rate of return proposed by the company. What factors need to be considered when setting rates designed to achieve this factor?
What is the equilibrium levels of real output and what is the equilibrium real interest rate
Two spacecraft are in the same elliptical earth orbit with perigee radius 8000 km and apogee radius 13,000 km. Spacecraft 1 is at perigee and spacecraft 2 is 300 ahead. Calculate the total delta-v required for spacecraft 1 to intercept and rendez..
Suppose a second firm enters the market. Let Ql be the output of the first firm and Q2 be the output of the second. Market demand is now given by Ql + Q2 = 53-P Assuming that this second firm has the same costs as the first, write the profits of each..
today corporations are required to send their stockholders an annual report. assume that you are a prospective
oligopoly monopolistic competitionand the factors of production1.a monopolistically competitive firm chooses thea.
responses to discussion questions are to reflect critical thought and be at least 250 to 300 words in length.why do
Using the aggre- gate demand-aggregate supply model, illustrate an econ- omy with an expansionary gap. If the government is to close the gap by changing government purchases, should it increase or decrease those purchases? In the long run, what ha..
A random sample of 121 students admitted to the top universities in the year 2009 shows a mean high school GPA of 3.57. The population standard deviation in GPA of students admitted to top universities is known to be 0.28.
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