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Say you are the manager of a perfectly competitive firm selling a product. Your business is making a loss because total revenue is less than total costs.
What would you do--shut down or continue to operate? Use hypothetical numbers to explain. Information you need to provide include--state the product you are selling, the price of the product, the quantity of the product you produce, fixed costs, total cost, figure out total revenue, total and average variable costs. Then go ahead and make your decision.
Explain carefully why it makes better sense to shut down rather than continue to operate or to continue to operate rather than shut down, as the case may be. How do fixed costs play a role in your analysis?
What is the difference between shutting down and going out of business?
hahn company uses the percentage of sales method for recording bad debts expense. for the year cash sales are 300000
Which of the following are included in this year’s GDP? Explain your answer in each case. The services of a commercial painter in painting the family home. An auto dealer’s sale of a new car to a non business customer.
beth and bob salerno are looking at a home loan of 250000 and have been quoted 3.75 for a 30 year loan compounded
This question is intended to understanding of the basic Ricardian model by having you work through a problem on your own. There are two nations, Canada and United States, and two goods X and Y.
suppose that the economy is currently at the full employment position. using the as-ad and is-lm models explain the
Discuss the effects on a country's current-account balance from the following changes in tax rates. a. A permanent increase in the tax rate on labor income and b. A temporary increase in the tax rate on asset income
the demand for labor is said to be a derived demand. what is the meaning of a derived demand? how does this concept
A leverage value is considered to be large if it is substantially greater than
Do you favor a laissez-faire approach or government intervention and regulation with respect to monopoly What are the benefits of your favored approach, in terms of economic efficiency Is one approach always preferable, or should each monopoly mar..
How does the rate of population growth influence the level of GDP per person?
Suppose that the market for the services of hookah bars is in long-run equilibrium. (1) more cities end regulations that had generated fixed costs for hookah bars, and (2) many nonstudent adults discover previously unknown preferences for the serv..
Consider the tax depreciation for a $1,000 investment using both the modified accelerated cost recovery system (MACRS) and the straight line depreciation accounting systems. Show that the MACRS system is more beneficial economically. Use a 5-year ..
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