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Murphy Company, a cash-basis, calendar-year taxpayer, received a call on December 28, year 1, from a client stating that a check for $9,000 as payment in full for their services could be picked up at
Jabba Company uses the cash method of accounting. Jabba received a computer from a customer as payment for a $2,000 bill. Can Jabba avoid recognizing income because it received payment in a noncash fo
Michelle (a calendar year individual) begins a new business as a sole proprietorship. She would like to use an October 31 fiscal year end for her business because the calendar year ends during her bus
The university has built a new parking garage. There is always an available parking spot, but it costs $1 per day. Before the new garage was built, it usually took 15 minutes of cruising to find a par
An owner can lease her building for $120,000 per year for three years. The explicit cost of maintaining the building is $40,000, and the implicit cost is $55,000. All revenues are received
Why does a prospective monopolistic competitor find it relatively easy to start production in the long run?
What are some of the natural and artificial barriers to entry into oligopolistic industries?
Why do firms demand resources? In what way is a firm’s demand for a resource a derived demand? How does this differ from consumers’ demand for final commodities?
Define marginal revenue. How is it calculated? Why is marginal revenue constant and equal to price under perfect competition?
Should the government break up a monopoly into a large number of perfectly competitive firms? Why?
What is the relationship of the cost of producing output and the money receipts of businesses when there are only consumer expenditures? What should happen to the level of output?
Variables other than the rate of interest affect gross investment. Changes in these other variables cause investment demand to shift downward or upward. What should happen to the economy’s inves
What effect does unanticipated inflation have upon: (1) individuals who are retired and living on a fixed income; (2) debtors, and (3) creditors?
How do the following events affect an aggregate spending line?
Find the change in the equilibrium level of output when there is a $10 increase in net export spending and the MPC =0.50, 0.75, and 0.80.
Is there backing for coins, paper currency, and check-writing deposits?
What factors may limit the actual increase in aggregate demand? b. An increase in aggregate demand should raise equilibrium output.
Compare the quantity of check-writing deposits when reserves are held constant and the reserve requirement is lowered in (a) with the quantity of deposits when the amount of reserves held by banks is
Before the Caribbean region can join the global village, it must get its act in order at home to truly understand what it is to be global. Discuss three (3) major areas that Caribbean economies can ac
Consider a monocentric city with commuting costs of $40 per mile.A household 8 miles from the city center occupies a dwelling with 1000 square feet at a monthly rental rate of $600
Prepare a brief note to be sent to Henry explaining possible reasons why his strategy price cutting failed
A bridge over the Coosa River currently has no tolls and an average passage of 880 cars per day. State government wants to place a toll on the bridge with the objective of raising the most revenue
In professional sports, the decisions about TV contracts, salary cap, free agency, entry in to a new market are made by their respective entities like MBA, NHL, NFL, MLB and MLS. These entities operat
In some economies relative supply may be unresponsive to changes in prices. For example, if factors of production were completely immobile between sectors, the production possibility
How much quantity does each individual firm produce? Using your answers from a) and b), determine if an individual firm is making a profit or loss and calculate this amount.