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Mary Graham worked as a real estate agent for Piedmont Preoperties for 15 years. Her annual income is approximately $100,000 per year. Mary is considering establishing her own real estate agency. She expects to generate revenues during the first year of $2 million. Salaries paid to her employees are expected to total $1.5 million. Operating expenses (i.e., rent, supplies, utility services) are expected to total $250,000. To begin the business, Mary must borrow $500,000 from her bank at an interest rate of 15 percent. Equipment will cost Mary $50,000. At the end of one year, the value of this equipment will be $30,000, even though the depreciation expense for tax purposes is only $5,000 during the first year.
a) Determine the (pre-tax) accounting profit for this venture.
b) Determine the (pre-tax) economic profit for this venture.
c) Which of the costs for this firm are explicit and which are implicit?
Assume a bank purchases a newly issued mortgage backed security (MBS) for $1,000. After the year, the value of the MBS has decreased to $750:
Elucidate why relatively flat as opposite relatively steep worker demand curves are more consistent with the empirical observation.
Suppose that the annual growth in real income in Japan is expected to be between 2 and 3 percent and that income elasticity of demand for housing in Tokyo is estimated to be between 0.8 and 1.0 for rental units and between 0.7 and 1.5 for owner-occup..
Nurses are used by the clinic to provide clinic visits. Each visit brings $2 in avenue for the clinic. The relationship between nursing units and clinic visits is as follows: The following is a labor supply function: Wage per hour Quantity of Nu..
Interest rates on U.S. treasury bills are typically much lower than interest rates on U.S. treasury notes and bonds. If the federal government wants to reduce the interest charges it pays when it barrows money, why doesn't the treasury stop selling t..
What did you add more specifics and associated reasons why you decided to recommend the course of action you selected and how you believe the course of action you selected might best be carried out.
q1. why the short-run demand for gasoline is less elastic than the long-run demand when the price of gasoline rises
Illustrate what strategies would you recommend in the fight against obesity. Elucidate what is GMA doing in the fight against obesity.
Explain the ethnocentric, polycentric, egocentric, and geocentric approaches toward international human resource management, including when and how each is best used.
Many police officer positions being advertised today require the applicant to have a college degree even though the tasks of a police officer rarely call upon college course material. From an economics perspective, why don't police departments increa..
The current price of scrap steel is $6/pound, but it was 4.87/pound just 4 years ago. What is the average inflation rate for scrap steel? Assuming in the last year of a project that Revenue was $100,000, Expenses were $50,000, Working Capital Release..
How would you Measure the Well-Being of a Person? How would you measure the Well-Being of a Nation? Would you be better off if I gave you money?
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