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Three students consider the option of forming a lawn care and landscaping business during their summer vacation. They estimate the following costs: Insurance $2,600; Equipment Rental Fees $1,000; Fuel and Supplies $4 per lawn serviced and Miscellaneous expenses $2 per lawn serviced the projected revenue depends on the number of lawns serviced. The price per job is EC$30. The going wage for a typical unskilled university student is approximately $2,400 for the summer months. a) Derive an equation for total accounting cost and total economic profit
Three machines are employed in isolated area. They each produce 2,000 units of output per month, the first requiring $20,000 in raw materials, the second $25,000, and third $28,000.
A country has had a steady value for its floating exchange rate (stated inversely as the domestic currency price of foreign currency) for a number of years. The country now tightens up on (reduces) its money supply dramatically.
If the economy is in a recessionary gap, what must happen to reach potential GDP.
look at an economy with two consumers a and b and two goods x1 and x2. let the two consumers preferences be described
Should the club cover explicit and implicit costs? Imagine that you are asked to consult with a drama club that puts on a play every year. The club asks you: How much should we charge for tickets if we want to cover our costs?
suppose that at the same time as this demographic change occurs more college students decide to major in nursing. use a
Compare the impact on pre-recorded music compact disks and the cabinet maker''s work of an economic expansion that increases consumer incomes by 20 per cent.
Analyze recent failures in the global financial system and make at least one recommendation for systematic change that would prevent such failures from happening in the future. Explain your rationale.
Chris is renting a house, and it does not have a refrigerator. A refrigerator is worth $2 every day because Chris will eat out less. Chris has a discount rate of 20 percent. Refrigerators usually last five years. How much is Chris willing to spend on..
1. you are considering employing manufacturing workers in japan in 1987. directly analogous workers for an
What you know about the consumer's preferences, can you predict a possible equilibrium on the new budget line?
consider an economy in which the demand for electricity is qd 100p where qd is the quantity demanded and p is the
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