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Three college students are considering operating a tutoring business in economics. This business would require that they give up their current jobs at the student recreation center, which pay $6,000 per year. A fully equipped facility can be leased at a cost of $8,000 per year. Additional costs are $1,000 a year for and $.50 per person per hour for materials and supplies. Their services would be priced and $10 per hour per person.
a. What are fixed costs?
b. What are variable costs?
c. What is the marginal cost?
d. How many student-hours would it take to break even?
Converting data info to understand past and current performance is the core of descriptive analytics and is vital to making good business decisions. In the financial industry describe the details of a specific graphical representation of the distrubi..
Discuss your power sources (and your co-owner of the property you two are trying to sell power sources) in this negotiation, and analyze how you can strengthen your power position
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What happens if the price floor is above the equilibrium? and what happens when price ceiling is below the equilibrium?
Mom belongs to a dealer's association and the members have kept careful records of how the forecaster has performed - Once she gets the forecast she can proceed with her decision as place a big order or a small order.
A sum of money Q will be received 6 years from now. At 5% annual interest, the present worth of Q is $60. At the same interest rate, what would be the value of Q in 10 years?
Find out a product and describe its price elasticity and income elasticity. How much control might an organization have over pricing based on a product's elasticity.
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Wilcox Corporation had income from continuing operations of $800,000 (after taxes) in 2013. In addition, the following information, which has not been considered, is as follows. Present in GOOD FORM the income statement of Wilcox Corporation for 2014..
Suppose that the average cost of producing product X is constant and equal to the marginal cost which is $120. The demand for X is given by Qd = 2700 – 10P Now suppose the government imposes a $30 per unit tax on X. What is the price received by sell..
Allows the government to collect wealth for redistribution based on the amount of stored wealth that is being passed on in the form of an inheritance.
You put money into an account. One year later you see that you have 5 percent more dollars and that your money will buy 6 percent more goods.
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