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Q. In 2002, Roma was a schoolteacher and earned $40,000. But she enjoys creating cartoons, so at the beginning of 2003, Roma quit teaching and set to work as a cartoonist. She stopped renting out her basement for $5,000 a year and began to use it as her office. She used $5,000 from her savings account to buy a new computer, and she leased a printer for $150 a year. During 2003, Roma paid $1,250 for paper, utilities, and postage; the bank paid 5 percent a year on savings account balances; and Roma sold $50,000 of cartoons. Normal profit is $3,000 a year. At the end of 2003, Roma was offered $4,000 for her computer. For 2003, calculate Roma's
1a. Explicit costs.
1b. Implicit costs.
1c. Economic profit.
The total demand as well as for money is equal to the transactions demand as well as plus the asset demand as well as for money.
The bank and pays interest at the market interest rate of 4 percent. Is it correct to say that the cost to Mary of living in her house is less than the cost to John.
Increasing the minimum wage will result in a decrease in employment for workers who now earn less than the new minimum wage.
Profits associated with polluting for Friedman Inc. are π = 40Q - 2Q2, where Q = pollution emitted (in tons), and profits are measured in dollars.
Can this model explain the fact that unilateral divorce law increased the divorce rate temporarily.
Make sure that you consider two cases. In the first case, the consumer does not pay any tax before x is reduced, and in the second case, the consumer pays a positive tax before x is reduced.
The market demand and supply function for VCR movie rentals are: QD= 10 - 0.04p and QS 3.8P = 4. Calculate the equilibrium quantity and price.
In 2003, when music downloading first took off, Universal Music slashed the prices of CDs from an average of $21 to an average of $15.
One feature of a financial crisis is that there is a high demand for safe assets and a low demand for risky assets.
Gains from trade will result if a country specializes.
The People's Bank of China, the country's central bank, raised the reserve requirements of its top commercial banks to put a squeeze on the credit market
What What marketing strategies should Radiance pursue in the next five years? Explain why the strategies you select would best fit the organization. in the next five years? Explain why the strategies you select would best fit the organization.
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