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Glen spends at least 40 hours a week at his place of business. If he closed the company, he could work for his competitor earning $50,000 a year. He also owns the building the company operates in and could rent it out for $12,000 a year if he closed his business. He invested $50,000 which he withdrew from CD account that generates 5 % interest. The business records show the following
Wagesexpense??$ 28,000.00
Interestexpense paid on loans$ 6,000.00
Other expenditures for factors of production?$ 34,000.00
Total Revenue?$ 70,000.00
a.What is Glen Accounting profitb.What is Glen Economic profit
Tom can produce 40 balls per hour or 4 bats per hour. Tessa can produce 80 balls per hour or 4 bats per hour.a. calculate Tom's opportunity cost of producing a ball. b. calculate Tessa's opportunity cost of producing a ball.
Find the equilibrium price and quantity for this market and Draw the budget constraint between "leisure hours" on the horizontal axis and "wage income" on the vertical.
The Teenager Company makes and sells skateboards at an average price of $70 each. During the past year, they sold 4,000 of these skateboards. The company believes that the price elasticity for this product is about -2.5. If it decreases the price ..
Walmart is vilified by many people as being evil, destroying jobs and cities. Others note that it has the lowest prices and is the largest employer in the country. What is the difference? Is Walmart a monopsonist? Demonstrate how a minimum wag..
Write out your final regression equation, with standard error in parentheses under each coefficient. Also, present statistic - F and 2R for this final regression.
Subsidy programs are likely to have a number of secondary effects in addition to the direct effect on dairy prices. What impact do you suppose farm subsidies are likely to have on the following?
Consequently, an example of an Islamic-sound banking practice is a system in which depositors deposit money to participate in profit-sharing and the banks provide funds to borrowers on the same principle with a mark-up as payment for their financi..
Let the utility function be U = log(x) - l, where l is labour and x is consumption. Find the level of labour supply if the wage rate w=10.
Recently, the Fed is paying banks interests for their required reserves and excess reserves. This is now the fourth policy tool for the Fed to control money supply (in addition to the three policy tools summarized on p. 423.). what if the Fed want..
News Analysis. Analyze a news from a global newspaper (Financial Times, Newsweek or a similar one), delivering a report that could be useful for your company to take a managerial decision.
At what output is the average variable cost (AVC) at a minimum and if the market price of the firm's output is $7.5 per unit, should the firm produce or shut down?
Studies of the effects of immigration into the United States from Mexico tend to find that the big winners are the immigrants themselves. How might things change if the border were open, with no restrictions on immigration.
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