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Jenny is considering starting a new business selling organic groceries. It would cost her $350,000 a year to rent store space and buy the groceries from a wholesaler, and she would have to quit her current job and give up a $70,000 annual salary.
a. What is Jenny's opportunity cost of starting the business?
b. If Jenny can make an accounting profit of $50,000 a year selling the organic groceries, should she start the business?
Why are these three requirements the most important?
Suppose that gangland figure Tommy Vercetti monopolizes the Pop Rock market. What price and quantity will he choose to maximize profit?
Suppose that loggers would be fully compensated if logging were prohibited, but this would require raising tax revenue of $8,000 and paying it to shareholders. For each of the following scenarios, state whether a law banning logging, coupled with ..
Approximately how much of the budget in Belgium is devoted to interest payments on its debt? If Belgium could wipe out its debt overnight, what would happen to its current budget deficit?
Write equations for fixed, variable, and average costs
How would these transactions show up in the balance of payments accounts of New York and New Jersey? What if the New Yorker pays cash for the machine?
Bernie, the manager of the S& L who will make the lending decision, receives 1% of the firm's earnings. He believes that if the S& L loses money, he can walk away from his job without repercussions, although without compensation.
A country with a civilian population of 90,000 (all over age 16) has 70,000 employed and 10,000 unemployed persons. Of the unemployed, 5,000 are frictionally unemployed and another 3,000 are structurally unemployed.
You are considering making an investment which, if it pays off, will give you a payoff of $100,000, but if it fails, it will give you a payoff of $20,000. Each outcome is equally likely. What is the risk premium for this lottery?
A monopolist sells in two states and practices price discrimination by charging separate prices in each market. The monopolist produces at constant marginal cost MC = 30. Demand in Market 1 is P1 = 100 -Q1. Market 2 demand is P2= 120 - 2Q2.
An upstart phone company has only two potential large customers, Firm A and Firm B. Firm As monthly demand for phone calls is Q1 = 2; 800 - 200p and Firm 2s is Q2 = 5; 000 - 100p. The marginal cost of providing a phone call is 6 cents.
When disparities exist from census information, housing starts data and other research data when seeking for information to help with predicting the power tool market
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