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1. Tanya operates a home business importing sweaters from Peru and sells them from her home. She collects $400,000 in revenue a year, and spends $200,000 on the sweaters and shipping costs, as well as $25,000 on advertising, accounting services and utilities. She takes a salary of $50,000 per year but used to make $100,000 per year working for an advertising agency. Now she works out of the basement of her house, for which she doesn't have any other marketable use. She has no other expenses.
a. Tanya's accounting profit is:
b. Tanya's economic profit is:
2. A household has a monthly income of $100 (this is poor country). A unit of food (10,000 calories) costs $5 (Good X) and a unit of clothing costs $20 (Good Y). What are the intercepts of budget line on the indifference curve graph?
If he invests $100 monthly, how much will be in the retirement fund in 25 years if it averages a return of 5.5% APR with monthly compounding. Another retirement fund offer 6% EAR with monthly compounding. What would the value of this be ..
Whenever the price of any of the goods increase, Richard gives a call to his rich uncle who immediately transfers funds to him so that Richard's utility remains constant. Assume the price of burritos increased by 20%, and even after Richard is com..
Draw a supply and demand diagram 2. In equilibrium, how many packs of cigarettes are purchased? What is the equilibrium price? What is consumer surplus and producer surplus in equilibrium? 3. Suppose that a flat tax of $1.50 per unit is imposed on ..
Suppose income declines by 2.85%, how much do I have to cut value in order to maintain existing customers and it begins with being given a regression analysis that has the following:
A consumer of two goods faces positive prices for both goods and has positive income. Her preferences over consumption of good 1 and good 2 are represented by the following utility function: u(x1; x2) = min {2x1 + x2; x1 + 2x2}
Calculate output per worker and consumption per worker for each country. Which country has the highest output per worker? The highest consumption per worker?
Research the current value of the following economic indicators: Analyze the current macroeconomic situation. Discuss expectations of changes in economic, financial, and international conditions in the near future. Identify any economic issues of ..
of this sales revenue he must pay the manufacturer a wholesale cost of $620,000 he also pays wages and utiilty bills totaling $210,000 if he doe not operate this piano business he can work in an accounting firm and recieve an annual salery of $45,..
The projects start to pay off in year 1 and continue to pay off all years thereafter. Interest is paid in perpetuity, in year 1 and every year thereafter. In addition, assume that if the projects are not done, then GDP=Q=C=$200 in all years, so th..
Given the following demand curve Q=100 - 2P determine the price elasticity of demand at the following prices. 1. P = 10, Elasticity = 2. P = 30 Elasticity = ?
A typical 2,000 sq. ft. home using standard concrete forms costs $120 per square foot to construct and uses $300 per month average to heat and cool. Calculate the IRR on a home using your company's insulated concrete forms on a typical 2,000 sq. f..
Swapna David is a customer assistant consultant for Acme Information Systems, who provides assistance for computer users. The mean number of calls per hour is 40 from across the United States and calls are independent.
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