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Assume that you are going to open up a lemonade stand. You have savings in cash of $100 to begin your venture. You must pay for everything used in the operation of your business. Clearly, you'll want to allocate monies towards marketing your business i.e. signs, pens etc. Create a simple fictitious income statement that reflects your profit and/or loss after your first month of operation. Be sure to include the following: Revenues, cost of goods sold, gross profit, operating expenses and net income before taxes. Include only those expense categories that you use during the course of business.
Consider a competitive seller of iced coffee drinks.Suppose that this seller’s marginal cost of producing an amount of such drinks per week is given.What is this seller’s total surplus at this quantity
Cammco Industries operates in a large competitive market. While there are some other comapnies in industry due to the high fixed costs of building plants, rival companies are very aggressive in their pricing strategies.
determine the possible circumstances under which the company should discontinue operations. suggest key actions that
Does the presence of online auction sites, such as eBay, make it easier or harder for traditional retailers and wholesalers to engage in profitable price discrimination? Explain.
would you expect the price elasticity of demand to be higher at the level of an individual school or at the aggregate
Negative externalities that arise from the production of a good;a. cause an increase in the demand for the goodb. cause a decrease in the demand for the goodc. impose costs on third partiesd. bring private costs into equality with social costs.
part-1you are the owner of a supermarket that wants to understand your clientiacutes preferences so that you can
Draw a diagram showing how the market equilibrium will change if the marginal social costs of a polluting production activity are included rather than just the marginal private costs of that activity.
some states are required to balance their budgets. is this measure stabilizing or destabilizing? suppose all states
Compute Florence's MRS of all other goods for travel. (In other words, compute her MRS with travel on the horizontal axis.
we constructed in class the exponential function ex with the property that dexdx ex. we also defined lnx as the
which of the following public policies restricts competition?a. licensingb. patentsc. import quotasd. all of the
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