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Kate uses a sewing machine to alter and repair clothes for one year in her own small business, Kate's Tailoring. She earns $20,000 during the year for various sewing projects. In the course of the year, she spends $2,000 on materials (cloth and thread); she pays $1,300 to rent a small workspace from the neighbourhood dry cleaners; and the value of her sewing machine depreciates by $200. If Kate had closed her business at the beginning of the year, she knows that she could have sold her sewing machine for $1,000, put the money in the bank, and earned $50 in interest. She also knows that if she had taken a full-time job instead of running this tailoring business, she could have earned $12,000 per year.
What is average cost in the producing output? Average total cost , frequently considered as to simply average cost, is sum of total cost divided through quantity of output gen
Discuss whether high indirect taxes are best way to discourage smoking
Based on the recent success of Ontario tennis star Milos Raonic, Nike Canadawill produce new state of the art tennis racket with a red maple leaf on the strings. Mike expects to se
Factors Responsible for changes in Aggregate Demand The Aggregate Demand curve shows an inverse relationship between the quantity of goods and services demanded and the price l
A change in government purchases of goods and services results in a change in real GDP equal to $200 million. Assume the absence of taxes, international trade, and changes in the a
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In monopolistic competition: a) Firms face a perfectly elastic demand curve b) All products are homogeneous c) Firms make normal profits in the long run d) There are ba
Cd players are produced on an automated assembly line process. The standard cost of CD players is 150.00 per unit. The sales price is $300.00 per unit. To achieve a 10 percent mult
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