What is jesses monthly economic profit

Reference no: EM13201183

Jesse sells 400 candles per month at an average price of $5 per candle. Costs of supplies to produce and sell the candles are $500. Rather than producing and selling candles, Jesse could be working at a second job earning $800 per month. What is Jesse's monthly ECONOMIC profit?

Reference no: EM13201183

Questions Cloud

Find out how much must invest today : Determine how much they must invest today at 10.4% compunded at semiannually to accomplish their goal.

What is the income elasticity of demand for widgets : When average consumer income increases from $40,000 to $44,000 in Mapleville, the quantity demanded of widgets went from 10 to 9 units per capita, even though the price of widgets and other products did not change.

Country risk and global capital budegeting strategy : What are the inherent risks in this opportunity and what economic data would you need for your analysis?

Find the probabilities that the sample contains defect : Control A certain machine that is used to manufacture screws produces a defect rate of .01. A random sample of 20 screws is selected. Find the probabilities that the sample contains the following

What is jesses monthly economic profit : Jesse sells 400 candles per month at an average price of $5 per candle. Costs of supplies to produce and sell the candles are $500. Rather than producing and selling candles, Jesse could be working at a second job earning $800 per month.

Predict annual number of vcrs sold if income tax reduction : Suppose that the current market price of VCRs is $300, that average consumer disposable income is $30,000, and that the price of DVD players (a substitute for VCRs) is $500. Under these conditions annual U.S. demand for VCRs is 5 million per year.

Explain global economy development strategey : What exciting opportunities and critical challenges such a development pose for multinational corporations and U.S. citizens? -> How do we benefit from it?

Explain how many cubic inches of material do need : How many cubic inches of material do you need to make a solid rubber ball with a diameter of 3 in.? Round your answer to two decimal places.

Should warren implement his idea or not : Suppose that Jeffs friend Warren has an idea for product improvement at his firm but he is concerned that the idea may already be patented. If indeed the improvement is already patented, the firm holding the patent may sue Warren for infringing th..

User Account

All Pages