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Pat used to work as an aerobics instructor at the local gym earning $35,000 a year. Pat quit that job and started working as a personal trainer. Pat makes $50,000 in total annual revenue. Pat's only out-of-pocket costs are $12,000 per year for rent and utilities, $1,000 per year for advertising and $3,000 per year for equipment.Refer to the information given above. Pat's accounting profit is _______, and Pat's economic profit is _______.
A. $50,000; $15,000
B. $34,000; -$1,000
C. $34,000; $15,000
D. -$1,000; -$1,000
q1. what would be the production possibility frontiers for brazil and the united states? without trade the united
Which of these factors will result in higher investment at existing interest rates?
Two restaurants are on the same block. One has been opened for 10 years and its a thriving business. The other one has been open for only a year. They both want to expand. When the two owners to to the local bank looking for a loan, which one is like..
Why do brides spend so much money on wedding dresses, whereas grooms often rent cheap tuxedos, even though grooms could potentially wear their tuxedos on many other occasions and brides will never wear their dresses again?
All of the following are sources of external recruiting except. The two types of stock a company can sell are. What do users say is there primary reason for using social media? A common characteristic of a centralized organization is
Suppose a perfectly competitive firm sees that price is $23 in the market place. It notices that the cost of producing the next unit of output is $26. What advice would you give to this firm?
What are the changes that are provided to meet design power targets?
Explain why scarcity leads to trade-offs. What determines the slope of the consumption choice budget constraint? The labor-leisure budget constraint? The intertemporal budget constraint? Does the economic approach specify what choices people should m..
Explore how firms in monopolistic competition differentiate their products or services to generate a market niche and gain more control over their pricing. To what extent can product differentiation create barriers to entry? How can product different..
Karen Dynan, a former Federal Reserve economist, was quoted as stating: The size of the Fed’s balance sheet, which has more than doubled since the financial crisis of 2008, and the large amount of reserves sitting at the Fed has made officials at the..
"Devoting a larger share of national output to investment would help restore rapid productivity growth and rising living standards." Do you agree with this claim? Explain, using the Solow model.
Determine the effect of expansionary monetary policy in the AS/AD model when the economy.
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