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Question - Janet spends $20,000 per year on painting supplies and storage space. She recently received two job offers from a famous marketing firm- one offer were for $100,000 per year, and the other was for $90,000. However, she turned both jobs down to continue a painting career. If Janet sells 25 paintings per year at a price of $8,000 each:
a. What are her accounting profits? Show your steps leading to your answer
b. What are her economic profits? Show your work!
What is the profit-maximizing level of output and price? What amount of profit is the firm earning? Is this firm in a short-run or long-run equilibrium?
The problem is belongs to Economics and it is explain about a utilizing labor hours. A scenario of the United States with 32000 labor hours out of which either cars or pharmaceuticals can be produced.
discuss the various ways governments can handle externalities such as noise from a local airport or a barking dog or
What is the structure for a firm with at least some ability to determine price? How are price and output levels determined rationally? Since price can, at least to some degree, be determined by the seller, is this firm sure to enjoy profits?
Which scheme will have no effect on economic inequality? Explain why.
If the price of a pizza is $12, is there a shortage or a surplus and does the price rise or fall?
The question is belongs to economics and it is explain about If drugs and food each cost $1 per unit, and the PH has $20 is cash, how much D and F will he consume? Is the PH better off with $20 in cash, or with $10 in cash and $10 in food vouchers..
For the cash flows shown, use an annual worth comparison and an interest rate of 10% per year. (a) Determine the alternative that is economically best.
a) What is meant by the Market Demand for a prodcut? Does the market demand curve for a product always slope downward to the right. If your answer is yes, discuss. If your answer is no, discuss.
Suppose the domestic demand curve for good X in Micronesia, a small closed economy, is given by the equation P = 100 - 2Q while the domestic supply for good X is given by P = 2Q. Calculate the equilibrium price and quantity for good X in Micronesia
A producer in a perfectly competitive industry has a cost function described by TC(q) = 16,000 + 6q + 0.1q2. If the market price is 90 and it has already.
Web Exercise Home heating accounts for approximately one-third of energy consumption in a typical U.S. household.
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