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1. Igora's pizzeria want to know if it should stay open this spring. Total Revenue will be $ 12,000 per week and Total Cost will be $ 18,000 per week. The fixed cost of running the business is $ 4,000 per week. Should the pizzeria stay open or shut down temporarily? Defend you answer.
2. Nomi's bagel shop is in the same geographical area as Igora's pizzeria. He wants to know if he should shut down. His Total Revenue is $ 10,000 per week and his total cost is $ 13,000 per week. His variable cost is $ 9,000 per week. What should he do and why.
3. Ciarco's new restaurant is one of many Italian restaurants in the Arthur Av section of the Bronx. He is cooking Novo Italian food and people are coming for miles to eat at his restaurant. It takes 3 hours to get a seating at the restaurant. He has 20 tables and it is not very costly to set up this type of restaurant. He is earning more money than his last job-grape crusher at Giovanni's Chianti Vineyards outside of Naples. '
What type of market structure represented in this example? Define your answer.
Will Ciarco earn long run economic profits? Why or why not?
In neoclassical economics, equilibrium exists when supply equals demand for a particular commodity. General equilibrium is a special (purely hypothetical) condition in which every
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An Exception: OECD Economies It isn't inevitable that there be such divergence. United States--with its 14 to 25-fold increase in output per worker over the years since 1870-ha
Visit to a village panchayat for agriculture based project
IN THE LABORATORY OXYGEN IS PRODUCED BY HEATING POTASSIUM CHLORATE ACCORDING TO THE EQUATION 2KCLO3-2KCL+3O2. WHEN 298g OF KCLO3 IS HEATED IT GAVE 181.2g OF OXYGEN. GIVEN THAT 32g
cobb douglas production function?
Determine the Returns to Scale Use the following production function and budget constraint to answer the questions below. Q = L + K 1000 = 2L +
Clearly explain the distinction between supply, demand and equilibrium price.
when the demand function is 2Q-24+3P=0,find the marginal revenue when Q=3.
what is disposable income and its importance.
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