Business entity before you hire any employees

Assignment Help Business Economics
Reference no: EM131004656

Based upon your readings in Chapter 28 and the hypothetical above with Marty Mad, pretend that you still have your car detail business (that we've discussed this session). Your business is expanding and you're contemplating hiring 1 or 2 part-time employees. Right now you are operating as a sole proprietor, doing business as Trusty Car Detail.

Would you change your business entity before you hire any employees? Why or why not? If so, what kind of entity would you select. Explain. Do your readings this week deter you from hiring any employees or continuing with your car detail business?

Reference no: EM131004656

Questions Cloud

Prices of the manufactured and agricultural goods : Examine the impact on a small country following an outward flow of immigrants that decreases its labor force. Assume that land is specific to agriculture and capital is specific to manufacturing, while labor is free to move between the two sectors. A..
Eliminating poverty will pay for self in reduced crime rates : According to the Green Party of Canada: “Eliminating poverty will pay for itself in reduced crime rates. Failure to eliminate poverty will cost our society far more than an effective program to make poverty history in Canada.” Now use the supply-dema..
An amusement park faces large fixed costs : An amusement park faces large fixed costs of $500,000 per month and low average variable costs of $10 per visitor. It charges all visitors a flat entry fee of $50 for unlimited rides. The park currently has 42,000 visitors a month and proposes to rai..
What is the rate of return on an investment : What is the rate of return on an investment, if you pay 750 dollars for a bond 2 years after it is issued. And the bond pays you 65 dollars in the end of the year, for 8 years and 1000 dollars in the end of the eighth year.
Business entity before you hire any employees : Would you change your business entity before you hire any employees? Why or why not? If so, what kind of entity would you select. Explain. Do your readings this week deter you from hiring any employees or continuing with your car detail business?
Checking account deposits at the chartered banks : If it is estimated that the checking account (demand) deposits at the chartered banks are $500. Using the above information, calculate M1, and money multiplier (m).
Organization of the petroleum exporting countries : In the first article it discusses how crude-oil prices increased and how that would hopefully get Russia and the Organization of the Petroleum Exporting Countries (OPEC) to go along with production cuts. A meeting in February is being arranged to dis..
Compare with the perfectly competitive outcome : For each of the following demand and cost functions, find the monopoly outcome (price, quantity, and profit). Compare with the perfectly competitive outcome (first find the perfectly competitive outcome).
What is the resulting value of the utility function : Given prices for two goods PX = 2 and PY = 3 and a budget of $120 a consumer is trying to maximize the utility function U(X, Y ) = 2X^0.3Y^0.7 Use the Lagrange method to solve this problem, but don’t worry about the second order conditions. Write and..

Reviews

Write a Review

Business Economics Questions & Answers

  Use the supply and demand” type graph

Health capital decisions: What would happen to desired level of health capital if there is an increase in educational attainment? Please use the “supply and demand” type graph. Make sure to explain the graph and answer fully.

  What a man needs to help provide a college education

What a man needs to help provide a college education for his young daughter. He can afford to invest $800/yr for the next four years, beginning on the girl's fourth birthday.

  Illustrate about the maximum amount that the money supply

Suppose that excess reserves in the Stranda National Bank are $15,000 and the reserve requirement is 4 percent. Illustrate about the maximum amount that the money supply can be increased is.

  Calculate the value of the market basket

Calculate the value of the market basket for each year given the price in the table blow. also calculate the price index for 2014 and the inflation rate for 2014. assume that the market basket consists of 150 container of yogurt 300 cups of coffee an..

  What are some strengths and weaknesses of hdi

Why is an understanding of Illustrate what development means crucial to policy formulation in developing nations. Why do you think a nation may have difficulties in agreeing on a rough definition of development.

  Illegal to engage in price gouging

In many states, including Florida, it is illegal to engage in price gouging. Florida’s law penalizes a seller for any “gross disparity between the quoted price of a ‘necessity item’ such as water, and the item’s price on the date that the governor de..

  Relations firm is retained to cover the media for client

A public relations firm is retained to 'cover the media' for a client. There is something peculiar about to being paid to chat with other people. When the p.r. Firm doubles its capital it quadruples its workforce. It's production function is given by..

  The growth rate of output per effective worker

Suppose an economy’s production function is Y = K1/2 x [AN]1/2 and that the savings rate, s, is equal to 21%, the depreciation rate, d, is equal to 8 %, the number of workers grows at 1.7% and the rate of technological progress is 6% per year, then f..

  Variables that affected by proposed steps

Explain how each of the following variables will be affected by proposed steps that you have identified in the first part of the discussion: money supply, interest rates, inflation rate, aggregate demand, and output. Provide support for your respo..

  Pricing strategies-special cost and demand structures

Which of the following pricing strategies is NOT used in markets with special cost and demand structures?

  Guidelines of the federal reserve

The two smallest banks have proposed merging. Under the standard merger guidelines of the Federal Reserve and the Justice Department.

  Compute the coefficient of price elasticity

What is the formula for measuring the price elasticity of supply? Suppose the price of apples goes up from $20 to $23 a box. In direct response, Goldsboro Farms supplies 1,300 boxes of apples instead of 1,200 boxes. Compute the coefficient of price e..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd