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The first cost of a waterjet machine to be used for slicing cheese is $60,000. The machine will generate net annual income of $11,955 during its useful life of 10 years. Determine the rate of return of on investment in this machine. Express the answer as an integer. For example, enter 10 for 10%. (Hint, this problem can be solved from the Compound Interest Factors tables)
In a perfectly competitive market the market demand for a good A is P=50-Q and the market supply is p=5+0.5Q. find the equilibrium price, quantity and the total welfare in this market. a unit tax=$15/unit is imposed on good A. calculate the amount of..
An individual is considering the purchase of a used automobile. The total price is $6200 with $1240 as a down payment and the balance paid in 48 equal monthly payments with interest at 1% per month. The payments are due at the end of each month. Comp..
Problem 1: Shelly's preferences for consumption and leisure can be expressed asU(C, L) = (C - 200) * (L - 80). There are 168 hours in the week availableto split between work and leisure. Shelly earns $5 per hour after taxes. She alsoreceives $320 ..
Sally and Joe recently graduated from college, both majoring in history. Joe took a prestigious job as a legal clerk. Sally took a job as a specialist in fighting forest fires. Both received additional training before entering their jobs. Who will li..
Assuming that factor markets are otherwise free and competitive, explain why the higher real wage would fail to increase the share of labor income in national income.
For the following three cases, use a midpoint formula to calculate the coefficient for the cross elasticity of demand and identify the relationship between the two goods (complement, substitute, or independent).
q1. how much deadweight loss does great reception causes when it restricts output and charges a price above marginal
A profit-maximizing monopolist named Billy faces an inverse demand function described by the equation p(y) = 40 - y and his total costs are c(y) = 7y, where prices and costs are measured in dollars. In the past Billy was not taxed, but now he must pa..
Problem: Consider a monopolist who has a constant marginal cost of MC = 20. Find the profit-maximizing quantity and price if the inverse demand curve is P = 620 - 25Q.
What would you do if patent law prevented your rival from cloning your product.
Frank is a single-father with one child. The cost of child-care is equivalent to $150 per day. When Frank works, he receives an hourly wage of $20. In addition he has $150 of non-labor income per day. He sleeps 8 hours a day. Given these constraints,..
The steady-state rate of unemployment is U/L = s/(s+f). Suppose that the unemployment rate does not begin at this level. Show that the unemployment rate will evolve over time and reach this steady state.
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