SCENARIO 1: You are the owner and the only employee of a company that writes computer software that is used by gamblers to collect sports data. Last year you earned a total revenue of $90,000. Your costs for equipment, rent, and supplies were $60,000. To start this business you invested an amount of your own capital that could pay you a return of $40,000 a year Refer to Scenario 1. Your economic profit last year was Lütfen birini seçin: O A.-$ 10000 O B.$ 30000 OC -$ 30000 O D. - $ 40000 O E$ 10000

Suppose that in 2018, you inherited from your grandfather a small planetarium that had been closed for several years. Your planetarium has a maximum capacity of 75 people and all the equipment is in working order. You decide to reopen the planetarium on the weekends as a new laser-tag venture called Shoot for the Stars, and much to your delight it has become an instant success, with admission tickets selling out quickly for each day you are open. Describe some of the decisions that you must make in the short run. What might you consider to be your “fixed factor”? What alternative decisions might you be able to make in the long run? Explain

The Hokey Pokey, a children's day care center is thinking about changing the nature of its business. It is considering shutting down the day care center, and re-opening their business as an adult night club called the Hanky Panky.  The Hokey Pokey currently makes $500 in profits. However, re-opening as the Hanky Panky will increase their profits from $500 to $1500. Friendly's Ice Cream which is currently located next to the Hokey Pokey is concerned because this move would reduce its profits by $1200. This would occur because they lose many of the families who currently come to the restaurant (some of which have their kids in the day care center.) but very few adult night club patrons are looking for ice cream According to economic theory, will the efficient outcome still likely occur, if there were many more surrounding stores with similar objections to the Hanky Panky?        A)  Yes, because the Coase Theorem will still apply as parties will bargain to the…

Desmond works as an accountant making $80,000 per year. He is considering leaving his job to open an artisanal cheese shop. He estimates that he will need to spend $20,000 per year on space, $10,000 per year on supplies and $40,000 per year on staff. The shop will earn will earn $120,000 per year in revenue. Assuming his estimates are accurate, what will Desmond's accounting profit be? Assuming his estimates are accurate, what will Desmond's economic profit be? Please enter your solution without commas, dollar signs, or cents.

Looking at the Table, Profit, Cost and Revenue Functions, Quant is the quantity of output, C(Q) is the Total Cost of production for corresponding quantities of output, R(Q) is the corresponding Total Revenue at each level of output Q, if all output is sold and PRF(Q) is the Total Profit for each corresponding output level. PRF(Q) is calculated as R(Q)-C(Q). Using this information, does the company make its highest profit where R(Q) is highest? a. No, because the highest possible revenue may be at an output level where the cost of output may exceed the revenue generated at that output level. In this problem, the highest profit is at output level 15 Ob. Yes, because there is no way that cost can exceed revenue when revenue is maximized. Cc. No, because the highest possible revenue may be at an output level where the cost of output may exceed the revenue generated at that output level. In this problem, the highest profit is at output level 10 or 12 or in between. Od. Yes, because the…

New entry increases your |e| from 2 to 5. If you previously maximized profits at a price of $16, your new profit maximizing is $10 $16 $8 $6.40 **please show your math**

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​Katie's Quilts is a small retailer of quilts and other bed linen products. Katie currently purchases quilts from a large producer for ​$100 each and sells them in her store at a price that does not change with the number of quilts that she sells. Katie is considering vertically integrating by making her own quilts. If the fixed cost of vertically integrating is ​$25,000 and she can produce quilts at Homework: Homework 7 (Lecture 6) Save Score: 0 of 1 pt 6 of 10 (8 complete) HW Score: 80%, 8 of 10 pts Text Question 4.2 Ques ​$50 per​ quilt, her total cost of producing​ quilts, q, herself is C=25,000+50q. How many quilts does Katie need to sell for vertical integration to be a profitable​ decision? For vertical integration to be​ profitable, Katie must sell at least nothing quilts. ​(Enter your response rounded to the nearest whole​ number.)

PQ 18.02 (and 18.03) Two businesses in a market can decide to increase the amount of stores they operate. If neither business adds new stores they will each earn $10 million in profit; if both add new stores they will each earn $4 million in profit; and if one adds new stores while the other does not, the business adding new stores earns profit of $10 million and the other earns profit of $5 million. If these businesses are not colluding we would expect: Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a both may or may not add new stores. b one business will add new stores and the other will not. c both will add new stores. d neither will add new stores.

Economics