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The MidNight Hour, a local nightclub, earned $100,000 in accounting profit last year. This year the owner, who had invested $1 million in the club, decided to close the club. What can you say about economic profit (and the rate of return) in the nightclub business?
HoneyBee Farms, a medium-size producer of honey, operates in a market that fits the competitive market definition relatively well. However, honey farmers are assisted by support prices above the price that would prevail in the absence of controls. The owner of HoneyBee Farms, as well as some other honey producers, complain that they can't make a profit even with these support prices. Explain why. Explain why even higher support prices would not help honey farmers in the long run.
why Banks are exposed to interest rate risk primarily. what does the Federal funds market involves.
Subsidy programs are likely to have a number of secondary effects in addition to the direct effect on dairy prices. What impact do you suppose farm subsidies are likely to have on the following?
Calculate point elasticities at prices of 5 and 9. Is the demand curve elastic or inelastic at these points?
With the help of an example discuss the characteristics of globalization. What are the factors that contribute to the attractiveness of a country as a market or investment site? What are the implications of cultural differences for international busi..
Greetings Corporation stores, as well as the Wall Décor division, have enjoyed healthy profitability during the past 2-years. Although profit margin on prints is often thin, volume of print sales has been substantial enough to generate 15 percent of ..
Explain the effects of the $26 a week increase in the minimum wage on the workers' surplus and the firms' surplus. Has the labour market become more efficient or less efficient? Explain and show the welfare measurement analysis in the graph.
name a good or service that you have purchased in recent months from a monopolist. How did the monopoly come to exist Do you think you would have benefitted from increased competition in the market for this good or service
For many corporations, a major portion of the cost of production is fixed in the short run. Should these very large fixed costs be ignored when the executives are making output and pricing decisions?
Assume total benefits and total costs are given through B(Y) = 100Y-8Y(squared) and C(Y)=10Y(squared). Determine the maximum level of net benefits?
In the chapter we mention how prices can vary in a tourist trap. Which market, St. Louis or Chicago, was more likely to behave like a tourist trap? Explain.
Compute the equilibrium price and quantity. Describe why the output and price levels are different for X1 and X2. Explain what occurs to consumer surplus, producer surplus, and deadweight loss.
The farmer wants you to work out how many heifers to carry through the system so that he can replace the cull cows and
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