Homework Answers
Answer - Option c) is correct i.e open the window cleaning business because open window business is giving 100000 per year out of which 2000 is spent on marketing and 10000 on payments for van so net earnings are $70000 which is more than earnings of being economist which is $60000.
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(Figure #3) You are working as an economist at a consulting firm earning $60,000 per year....
When you decided to start your consulting company, you were previously earning $ 50,000/year working for...
When you decided to start your consulting company, you were previously earning $ 50,000/year working for the large private consulting company Accenture. When you started the business it cost $ 100,000 to rent an office building, purchase computers, furniture and other office equipment. What was your opportunity cost of opening your own consulting company?
When you decided to start your consulting company, you were previously earning $ 50,000/year working for...
When you decided to start your consulting company, you were previously earning $ 50,000/year working for the large private consulting company Accenture. When you started the business it cost $ 100,000 to rent an office building, purchase computers, furniture and other office equipment. What was your opportunity cost of opening your own consulting company? explain clearly
Zippy is earning $30,000 per year working for Joe's Car Repair. He also has savings of...
Zippy is earning $30,000 per year working for Joe's Car Repair. He also has savings of $100,000, on which he is earning 10% annual interest. He decides to leave Joe's Car Repair to invest his savings in starting his own car repair business. In the first year, Zippy's Speedy Car Repair earns revenues of $200,000 and has explicit costs of $75,000 Zippy's economic profit (or loss) in the first year is S. (Round your answer to the nearest dollar.)
Sarah is currently working for an accounting consulting firm, and her annual salary is $60,000. She...
Sarah is currently working for an accounting consulting firm, and her annual salary is $60,000. She is considering, however, to open her own business of art gallery. If Sarah runs her own business, then she will have to give up the current job in the firm. With the business, Sarah will provide the space for artists to display their works, and when a piece of art is sold, she will receive a certain amount of fee from the artist. She...
Jim resigns from his job, from which he was earning $40,000 per year, and then uses...
Jim resigns from his job, from which he was earning $40,000 per year, and then uses his own savings as the only source of capital to start a new firm. In the first year, his revenue is $120,000 and the total explicit cost is $60,000. Jim does not want to reveal how much own-savings he uses in his business, but implies that if the interest rate was higher than 5%, he would prefer not to start his own business. Refer...
Suppose an engineer leaves her $100,000 per year job to start a consulting business. Assume she...
Suppose an engineer leaves her $100,000 per year job to start a consulting business. Assume she borrows all of the money needed to start the business. In the first-year revenue is $500,000, the salaries paid to employees total $300,000 and the interest paid on the loan is $50,000. The economic profit of the firm is, therefore, $150,000. Is this true, false, or uncertain? If so please explain in detail why.
Case 2 Jim resigns from his job, from which he was earning $40,000 per year, and...
Case 2 Jim resigns from his job, from which he was earning $40,000 per year, and then uses his own savings as the only source of capital to start a new firm. In the first year, his revenue is $120,000 and the total explicit cost is $60,000. Jim does not want to reveal how much own- savings he uses in his business, but implies that if the interest rate was higher than 5%, he would prefer not to start his...
Zippy is earning $40,000 per year working for Joe's Car Repair. He also has savings of...
Zippy is earning $40,000 per year working for Joe's Car Repair. He also has savings of $150,000, on which he is eaming 10% annual interest. He decides to leave Joe's Car Repair to invest his savings in starting his own car repair business In the first year, Zippy's Speedy Car Repair cars revenues of $250,000 and has explicit costs of $150,000 Zippy's economic profit (or loss) in the first year is $ (Round your answer to the nearest dolor.)
Use the information below to answer questions 1 through 5. Assume you gave up a $60,000 per year job at an accountin...
Use the information below to answer questions 1 through 5. Assume you gave up a $60,000 per year job at an accounting firm to start your own tax Jou run your own firm or work for another firm. If your revenue during the first year of business is $75,000, and you incurred $5,000 in preparation business. To simplify, assume your tax personal obligations are the same whether expenses for equipment and supplies, how much is your accounting profit? If your...
D Question 8 1 pts Case 2 Jim resigns from his job, from which he was earning $40,000 per year, and then uses his o...
D Question 8 1 pts Case 2 Jim resigns from his job, from which he was earning $40,000 per year, and then uses his own savings as the only source of capital to start a new firm. In the first year, his revenue is $120.000 and the total explicit cost is $60,000. Jim does not want to reveal how much own-savings he uses in his business, but implies that if the interest rate was higher than 5%, he would prefer...
Zippy is earning $30,000 per year working for Joe's Car Repair. He also has savings of $100,000, on which he is earning 10% annual interest. He decides to leave Joe's Car Repair to invest his savings in starting his own car repair business. In the first year, Zippy's Speedy Car Repair earns revenues of $200,000 and has explicit costs of $75,000 Zippy's economic profit (or loss) in the first year is S. (Round your answer to the nearest dollar.)
Jim resigns from his job, from which he was earning $40,000 per year, and then uses his own savings as the only source of capital to start a new firm. In the first year, his revenue is $120,000 and the total explicit cost is $60,000. Jim does not want to reveal how much own-savings he uses in his business, but implies that if the interest rate was higher than 5%, he would prefer not to start his own business. Refer...
Case 2 Jim resigns from his job, from which he was earning $40,000 per year, and then uses his own savings as the only source of capital to start a new firm. In the first year, his revenue is $120,000 and the total explicit cost is $60,000. Jim does not want to reveal how much own- savings he uses in his business, but implies that if the interest rate was higher than 5%, he would prefer not to start his...
Zippy is earning $40,000 per year working for Joe's Car Repair. He also has savings of $150,000, on which he is eaming 10% annual interest. He decides to leave Joe's Car Repair to invest his savings in starting his own car repair business In the first year, Zippy's Speedy Car Repair cars revenues of $250,000 and has explicit costs of $150,000 Zippy's economic profit (or loss) in the first year is $ (Round your answer to the nearest dolor.)
Use the information below to answer questions 1 through 5. Assume you gave up a $60,000 per year job at an accounting firm to start your own tax Jou run your own firm or work for another firm. If your revenue during the first year of business is $75,000, and you incurred $5,000 in preparation business. To simplify, assume your tax personal obligations are the same whether expenses for equipment and supplies, how much is your accounting profit? If your...
D Question 8 1 pts Case 2 Jim resigns from his job, from which he was earning $40,000 per year, and then uses his own savings as the only source of capital to start a new firm. In the first year, his revenue is $120.000 and the total explicit cost is $60,000. Jim does not want to reveal how much own-savings he uses in his business, but implies that if the interest rate was higher than 5%, he would prefer...
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