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You are un the middle of a one-year rental contract for your factory that requires you to pay $ 500,000 per month, and you have contractual labor obligations of $ 1million per month that you can't g
Annual revenue from operations = $290,040 Payments to workers = $160,003 Utilities (electricity, water, disposal) costs = $8,010 Entrepreneur's potential economic profit from the next best entrepreneu
Suppose a supply increase causes the equilibrium to shift from the one above so that the equilibrium quantity changes from that in the diagram to an equilibrium quantity of 200. What is the elastici
Amy is shopping at a dollar store. She is currently buying 5 bracelets that cost $1 each and 4 sodas that cost $1 each. The table below indicates the marginal utility she obtains when she purchases
Suppose the Fed has initiated an expansionary monetary policy by using $25 billion in newly printed money to buy government bonds from bond holders (the public). What will be the repercussions of su
Suppose Al has a checking account in Bank A, and Bob has a checking account in Bank B. Banks A and B each have $100,000 in deposit liabilities and $30,000 in reserves, and the required reserve ratio
At the equilibrium interest rate, what are the quantity of money supplied, the total quantity of money demanded, the amount of money demanded for transactions, and the amount of money demanded as an
A delivery company is considering adding another vihicle to its delivry fleet, all the vehicles of which are rnted for $100 per day. Assume that the additional vehicle would be capable of delivering
With the machine adequately maintained, its production rate will remain constant for the first 1,200 hours of operation and then decrease by 2 feet per hour for each additional 400hours thereafter.
an automobile -manufacturing company is considering purchasing an industrial robot to do spot welding , which is currently done by skilled labor . the initial cost of the robot is $210,000, and the
the M&M company purchased a new punch press in 2005 at a cost of $265,000. M&M also paid $46,000 to have the punch press delivered and installed. The punch press has an estimated useful life
the Cadillac motor Car company is advertising a 24-month lease of a Cadillac Devil for $520 payable at the beginning of each month. The lease requires a $2,500 down payment plus a$500 refundable sec
The short-run total cost curve of a firm in a hypothetical market is given by: STC=10Q2 + 4Q + 100 with short-run marginal cost given by SMC=20Q+ 4 There are 100 firms in the market. Market demand is
A new drill press was purchased for $148,000 by trading in a similar machine that had a book value of $46,220, Assuming that trade-in allowance is $9,000 and the book value of assetraded in is $9,00
Bank A offers a nominal annual interest rate of 7% compounded daily, while a bank B offers continuous compounding at a 6.9% nominal annual rate. If you deposit $3,000 with each Bank, what will be th
(A) What are you monthly interest rate and annual effective interest rate (B) if your current outstanding balance is 3,000 and you skip payments for two months, what would be the total balance
Lube Job. Many gas stations and three specialty shops (Pennzoil, Jiffy Lube and Valvoline) do oil changes in Charleston, WV. You've probably been to one of these and know the productionmethod.
Two firms are in the chocolate market. Each can choose to go for the differentiation focused high quality market or the cost focused low quality market. Resulting profits are given by the following
a.) Determine the profit maximizing level of output. b.) Compute the profit maximizing price. c.) Calculate the upper and lower limits within which marginal cost may vary without affecting the profi
A bank is in the process of renegotiating a loan. The principal outstanding is $50 million and is to be paid back in two installments of $25 million each, plus interest of 8 percent.
Suppose the department of Justice, Antitrust division takes Muncie Christmas tree cartel to court, arguing that the cartel is creating deadweight loss. It is beyond a doubt true that the cartel is a
Suppose that this year's money supply is $50 billion, nominal GDP is $1 trillion, and real GDP is $500 billion. What is the price level What is the velocity of money
The Kinked demand curve in an oligoolistic market is represented by the following: P = 100- Q and P = 120-2*Q The oligopoly firms have constant marginal costs at MC = 40 What is the profit maximizing
A case study in the chapter describes a phone conversation between the presidents of American Airlines and Braniff Airways. Let's analyze the game between the two companies.