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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
use the following scenario to answer questions.in a given year in the united states the total number of residents is
At the central furniture company, consumers who buy on credit pay an effective annual interest rate of 16.1 percent, based on monthly compounding. What is nominal annual interest rate that they pay?
What is the consumption function and how is it related to the Marginal Propensity to Consume? 2. What is the multiplier? 3. What determines the position of the Long Run Aggregate Supply curve? 4. What is a supply shock? Give several examples.
ibm purchased computer chips from nec a japanese electronics concern and was billed yen250 million payable in three
Each consumer is given a voucher which entitles her, free of charge, to fifty units of education. (of course she can also use the voucher to cnosumer, free of charge, less than fifty units) If she wants more than fifty units of education
Suppose the information in the following table is for a simple economy that produces only the following four goods and services: textbooks, hamburgers, shirts, and cotton. Assume that all the cotton is used in the process of producion.what is the ..
Suppose you have the following demand function for the good x: x* = 80(py/px) - 0.5I. Are goods x and y complements or substitutes? How do you know?. Does good x demand satisfy the first law of demand? Why or why not?
A typical university football event need alumni to join one of many booster club before the person can buy season tickets.
Suppose that the U.S. government decides to charge wine producers a tax. Before the tax, 20,000 bottles of wine were sold every week at a price of $4 per bottle. After the tax, 13,000 bottles of wine are sold every week; consumers pay $5 per bottle, ..
branding iron products a specialty steel fabricator operates a plant in the town of west star texas. the town has
What amount must be placed on deposit today to equal $15,000 in 4 years at 15 percent per year compounded continuously?
For the demand function and total cost function compute the output choices for a profit-maximizing monopolist, an output-maximizing monopolist, and a revenue-maximizing monopolist.
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