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Golda Rush quit her job as a manager for Home Depot to start her own hair dressing salon, Goldilocks. She gave up a salary of $40,000 per year, invested her savings of $30,000 (which was earning 5 percent interest) and borrowed $10,000 from a close friend, agreeing to pay 5 percent interest per year. In her first year, Golda spent $18,000 to rent a salon, hired a part-time assistant for $12,000 and incurred another $15,000 in expenses on equipment and hairdressing material. Based on this information, what is the amount of her implicit costs for the first year?
Let (x1, x2) be some interior bundle on the budget constraint, and suppose p1 = 4 and p2 = 2. If the marginal rate of substitution
Stacy Ennis eats lunch at a local restaurant two or three times a week. In selecting a restaurant on a typical workday, Stacy uses three criteria.
Which of the following best explains why elasticity varies along a linear demand curve? Labor demand is more elastic when: Unions are likely to be less successful in negotiating higher wages in those labor markets in which:
How much does a championship earn an organization? One of the talking points about the Patriots and Warriors in recent years in particular is that thanks.
Explain the most important characteristic in perfect competition, monopolistic competition, oligopoly, and monopolies and relate the characteristic to how these firms can make profits in the short run. In your analysis, make sure to relate an exa..
Where Qd and Qs represent the quantity demanded and supply respectively and p is the price
CalcTech has $930,000 in current assets and $320,000 in fixed assets less $108,000 in accumulated depreciation. The firm's current liabilities total $350,000.
1. Microsoft has been a giant in the software industry. Can we define Microsoft as a monopoly? Please explain. In addition, whether the Learner Index works well to define the market power for Microsoft in the software industry? Explain your answer.
What ar the prices charged, total product shipped to each market, and the total profits to the monopolist under the following two conditions?
what are the major factors that have affected u.s. household consumption since the recession in 2001?briefly explain
Consider a good for which production generates external costs. Let the marginal external cost function be MEC=aE, where a is your 1-digit number.
Why would auto manufacturers resist exhaust control devices? How would their costs, sales, and profits be affected?
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