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You have worked as a real estate agent for 10 years and are earning about $100,000 per year with your current agency. You prepared the following information to use in evaluating the financial feasibility of starting your own agency:Revenues generated during the first year of operations: $1.5 millionSalaries and other labor costs paid to employees during the first year of operations: $1 millionOperating expenses (e.g., rent, communications: $150,000Equipment purchases: $100,000 with a 5 year straight line depreciation
You need $100,000 in equity, which you can withdraw from your bank account that is currently paying 2% per year in interest, and a $400,000 loan with a 15% interest rate.
a. What is your expected pretax accounting profit from your proposed agency?b. What is your expected pretax economic profit from your proposed agency?c. Identify the explicit versus implicit costs.
The World of Videos operates a retail store that rents move videos. For each of the last 10 years, World of Videos has consistently earned profits exceeding $25,000 per year. The store is located on prime real estate in a college town. World of Vi..
at a price of $1 each, 200 popsicles are sold per day in the perpetually hot town of Rostin. Consider the elasticity of supply. In the short run, a price increase from $1 to $2 is unit-elastic (Es = 1). In the long run, a price increase from $1 to $2..
Assume the following values for Figures 5.4a and 5.4b. Q1=20 bags. Q2=15 bags. Q3=27 bags. The market equilibrium price is $45 per bag. The price at a is $85 per bag. The price at c is $5 per bag. The price at f is $59 per bag. The price g is $31 ..
The Coma Chemical Company needs a large insulated stainless steel tank for the expansion of its plant.coma has located one at a Brewery that has just been closed.The brewery offers to sell the tank for $15000 including delivery. the Price is so lo..
a. Calculate the marginal revenue product at each level of labor input if output sells for $4 per unit. b. If the wage rate is $15 per hour, how much labor will be hired c. What is the firm's total revenue and total amount paid for labor at the level..
Currently, a typical fan pays an average ticket price of $5. The price elasticity of demand for tickets is -0.6. Management is thinking of raising the average ticket price to $5.50. Compute the predicted percentage change in tickets sold. Would yo..
The supply curve for product X is given by QXS = -340 + 10PX . a. Find the inverse supply curve. P = + Q b. How much surplus do producers receive when Qx = 350? When Qx = 1,000?
Draw a money market diagram and determine the shift of the money supply curve due to an open-market operation; determine if the equilibrium interest rate rises or falls. Also be able to determine what happens to investment spending and consumption..
The following data are available for output (Q) and Long Run Total Cost (LTC) for a firm. Using appropriate calculations determine the range of outputs over which the firm's technology exhibits Increasing, Decreasing or Constant Returns to Scale.
Determine algebraically the profit-maximizing outputs for the production and marketing divisions of the firm and the optimal transfer price for the intermediate product and the price of the final product.
A sales engineer has the following alternatives to consider in touring his sales territory. (a) Buy a new car for $14,500. Salvage value is expected to be about $5000 after 3 years. Maintenance and insurance cost is $1000 in the first year and inc..
After analysis of the business, the manager has determined that weekly demand can be approximated by Q = 25,000 - 1000P. The firm's cost function is C = 25,000 + 13Q + .002Q2, where Q is output per week. Determine the profit maximizing price and ou..
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