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Assume that you want to change careers to run a gourmet food truck - the career of your dreams. You use Chapter 7 from Everything Economics as a guide to help you to decide whether to quit your current job, in which you make $45,000 per year. Answer the questions below 1. What are your fixed and your variable costs, per year, in running your food truck business? What is your total cost?2. Assume a sales figure for your first year of $60,000 - what is your accounting profit?3. What is the opportunity cost of your food truck career?4. What is your food truck salary - include the monetary value of the utils you derived from intangibles, such as working for yourself.5. What is your economic profit?6. Will you quit your job?
At a separating perfect Bayes-Nash equilibrium, what is the maximum amount of advertising that a restaurant conducts. What is the minimum amount.
A bloom berg business week subscriber study asked In the past 12 months when traveling for business what type of airline ticket did you purchase most often? a second question asked if the type of airline ticket purchased most often was for domestic o..
Does federal revenue as a percent of GDP change with changes in tax rates? Explain with reference to the Laffer Curve concept.
Evaluate and compare the "vertical restraints" of the two industries / sectors for the purposes of assessing the consequences of these provisions for strategic decision making.
q1. the ceo of a major automaker overheard one of its division managers make the following statement regarding the
Suppose there is a temporary but significant increase in oil prices in an economy with an upward-sloping Short-Run Aggregate Supply (SRAS) curve. If policymakers wish to prevent the equilibrium price level from changing in response to the oil price i..
workers of world ought to postpone uniting until or scores are settled. Can we still say that terrorists have not conquered us.
What services do you predict Bangalore India exports and what services do you predict it imports.
Ilustrate what is the marginal propensity to consume (MPC).
How would that plan compare to one that requires each firm to provide a $100,000 group program that would cover all employees in the firm, no matter what the number of employees was?
At a management luncheon, two managers were overheard arguing about the following statement: "A manager should never hire another worker if the new person causes diminishing returns." Is this statement correct? If so, why? If not, explain why not.
How can a compensation scheme designed to enhance worker motivation lead to this result.
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