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If a donut shop earned $30,000 in total revenues per month with explicit costs of $15,000 and an opportunity costs of $9,000, what would my economic profit be? Please show me step by step in how to solve this.
When an incumbent maintains a price below the monopoly price in order to prevent entry. The act of charging a low price initially upon entering a market to gain market share.
A country’s annual growth rates over a 10-year period are shown in the following table. Year Growth Rate 1 5 2 3 3 4 4 -2 5 -3 6 3 7 4 8 5 9 6 10 2 What was the country’s trend rate of growth over this period?
What does this suggests about the team's belief concerning the income elasticity of demand for tickets?
You have a machine that costs $30,000 now and can be sold for $13,000 in year 4. The machine costs $12,000 each year to operate and the raw materials cost $10,000 each year. The machine produces 500 pieces each year. Using an interest rate of 7%, wha..
At what price will quantity demanded equal zero? At what price will quantity demanded equal 200? Write the demand equation with price as a function of quantity demanded. Use the two equations to determine the market equalibrium price and quantity tra..
She borrowed $5,100 at 4.25% on December 26, 2013, and paid it off February 21, 2015. How much did she pay in interest?
Suppose there are 100 identical firms in the perfectly competitive note-card industry. Each firm has a short-run total cost curve of the form: ST C = 0.2q^2 + 4q + 10 and MC = 0.4q + 4. Calculate the firm’s short-run supply curve with q (the number o..
The Republic of Ireland (what most of us refer to as simply Ireland), is an independent country but borders on Northern Ireland; the two countries make up the entire Island on which they exist. If you were the head of Great Britain’s Central Bank, an..
Stable and predictable prices seem to be valued by retail customers, especially for items that enjoy a high degree of repeat sales. Show that Wal-Mart will sell more than 1000 of the smaller cartons of ice cream if the price elasticity of demand for ..
The economic analysis of legal concepts, such as property law, contracts, torts, the legal process, crime, and punishment. The focus of much of the material is using the scientific theory of economics to predict the effect of various policies on ..
The united states exports a substantial amount of scrap iron and steel to Japan and other countries. Explain Why do some US users of scrap iron and steel support a prohibtion on these exports
You are the manager of a variable hospital department and you just received your monthly budget results that state your salaries were higher and your supplies were lower than budgeted. This assignment uses a rubric. Include the relationships between ..
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