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Assume that you want to change careers to run a gourmet food truck - the career of your dreams. You use Chapter 7 from Everything Economics as a guide to help you to decide whether to quit your current job, in which you make $45,000 per year. Answer the questions below 1. What are your fixed and your variable costs, per year, in running your food truck business? What is your total cost?2. Assume a sales figure for your first year of $60,000 - what is your accounting profit?3. What is the opportunity cost of your food truck career?4. What is your food truck salary - include the monetary value of the utils you derived from intangibles, such as working for yourself.5. What is your economic profit?6. Will you quit your job?
Your firm is considering the purchase of an old office building with an estimated remaining service life of 25 years.
Describe the difference between the short run and long run in the example to bringing about more tables for the customers. How is the restaurant able to differentiate between the short run and long run?
Illustrate what is your conclusion about the claim made by the diet program
What do you think is the future of such predictive capabilities?
Suppose the relationship between Demand for good x (Qx) can be described by the following linear relationship
Such retailers can sell as many copies of Vista they such as at the prevailing marketplace price of $200.
Do you think the U.S. Post Office should be protected from competition What about a pharmaceutical company that has just spent millions to develop a life-saving drug
Explain the essential distinctions among the stages-of-growth theory of development, the Structural change models of Lewis and Chenery.
Over the last decade, several firms have entered this industry and, as a consequence, Forey is earning a return on investment that roughly equals the interest rate. Furthermore, the four-firm concentration ratio and the Herfindahl-Hirschman index ..
During much of the 19th century in Great Britain, independent auditors were not only allowed to have an equity interest in their customers but were needed to invest in their clients in certains circumstances.
If the United States and Russia were the only two countries engage in trade, what adjustments would you predict, assuming exchange rates are freely determined by the laws of supply and demand?
If automobile emissions controls were not mandated by law, would people willingly buy also install them
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