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At the beginning of the year, an audio engineer quit his job and gave up a salary of $175,000 per year in order to start his own business, Sound Devices, Inc. The new company builds, installs, and maintains custom audio equipment for businesses that require high-quality audio systems. A partial income statement for Sound Devices, Inc, is shown below: 2010 Revenues Revenue from sales of product and services $970,000 Operating costs and expenses Cost of products and services sold 355,000 Selling expenses 155,000 Administrative expenses 45,000 Total operating cost and expenses $555,000 Income from operations $415,000 Interest expense (bank loan) 45,000 Legal expenses to start business 28,000 Income taxes 165,000 Net income $177,000 To get started, the owner of Sound Devices spent $100,000 of his personal savings to pay for some of the capital equipment used in the business. In 2010, the owner of Sound Devices could have earned a 15 percent return by investing in stocks of other new businesses with risk levels similar to the risk level at Sound Devices. What is total implicit cost in 2010?
An analyst knows with certainty that Skipper Inc. will exist for two years and have the following cash flows per share: What is the stock price of Skipper Inc., if the opportunity cost of capital is 8 percent?
During the recession of 2008–2009, many workers who lost their jobs were unable to afford to move to a new job in a new city and pay rent or buy another home because they could not sell the home they were in that still had mortgages. This was because..
What is an absolute advantage? What is a comparative advantage? Give an example where you have an absolute but not a comparative advantage. Why should we specialize and trade?
Bear Stearns, Lehman Brothers, Merrill Lynch, and AIG were all firms that teetered on the brink of bankruptcy. What was the fate of each? In what ways were their problems similar? How did they differ?
Now suppose that US businesses become more optimistic about the profitability of investment, so that the demand for loanable funds shifts to the right. What is the effect on the U.S. real exchange rate (appreciate, depreciate, no change)?
Regulating Monopoly. Explain how a regulator can reduce the deadweight loss associated with monopoly by setting a price cap in the market. Show what the ideal level of this price cap is, and the resulting inefficiency.
q.in the wake of the energy crisis in california many electricity generating facilities across the nation are
How is superior theory of comparative advantage of David Rivardo to the theory of absolute advantage Adam Smith? How the gains from comparative advantages emerge?
Sentencing System Reform: The paper should identify the various systems used in the sentencing of offenders and discuss the effectiveness of such systems. The discussion should take into account the ethics of sentencing disparity and present possible..
Consider a model of unemployment where the change in the unemployment rate (u) is given by Δu = (b+s)-(b+s+f)u, where b is the rate of entry in the labor force, s is the separation rate, and f is the job findings rate. Derive an expression for the st..
In the absence of government interference, there is a constant marginal cost of $5 per ounce for growing marijuana and delivering it to buyers. If the probability that any shipment of marijuana is seized is 0.20 and the fine if a shipper is caught is..
If 150 million workers produced America's GDP in 2013, according to the "world view" above, how much output did the average worker produce?
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