career. If Jaynet sells 35 paintings per year at a price of $6‚000 each: a. What are her accounting profits? $ b. What are her economic profits? $ Explanation: a. Her accounting profits are $190‚000. These are computed as the difference between revenues ($210‚000) and explicit costs ($20‚000). b. By working as a painter‚ Jaynet gives up the $105‚000 she could have earned under her next best alternative. This implicit cost of $105‚000
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pulls down on you. Ans) False Question no 17 )Two weights are connected by a massless wire and pulled upward with a constant speed of 1.50 m/s by a vertical pull P. The tension in the wire is T (see figure). Which one of the following relationships between T and P must be true? Ans) P= T+25N UNIT IS Newton(N) Question no 22) If you swing a bucket of water fast enough in a vertical circle‚ at the highest point the water does not spill out because an outward force balances the pull of gravity on the
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None of the above. Answer: C 4) Suppose the demand for Digital Video Recorders (DVRs) is given by Q=250 - .25p + 4pc‚ where Q is the quantity of DVRs demanded (in 1000s)‚ p is the price of a DVR‚ and pc is the price of cable television. How much does demand for DVRs change if the p rises by $40? A) drops by 10‚000 DVRs B) increases by 16‚000 DVRs C) drops by 2‚500 DVRs D) increases by 4‚000 DVRs Answer: A 5) Consider the demand function Qd = 150 - 2P. The effects of other determinants
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The comparison of Cyclops’ from historical contexts to new media In Greek mythology‚ the Cyclops was a member of the giant race‚ every one of them having one eye in the middle of their heads. The Cyclops’ were gigantic monsters who originated from Sicily which consumed human beings. Because of their horrific appearance there were banished to the underworld‚ but later set free from their prison by the Greek gods. In the X-Men series‚ the Cyclops is a character that is portrayed as a superhero
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demonstrate my understanding of Elastic potential energy. And the projectile concepts of the effect of changing potential into kinetic energy and for me to demonstrate my ability to apply elastic potential energy to a scientific investigation. What am I going to do and what will it prove: I am going to use an elastic band and release it from different tensions I will then measure how far it ‘flies’. Doing this will tell me the relationship between force‚ potential energy and kinetic
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Compare and Contrast 2 artworks ‘Music In the Tulieries’ And ‘Dance at le Moulin de la Galette’ Music in the Tuileries Garden depicts a fashionable Parisian crowd socialising in the the Tuileries garden as they enjoy the music played by a band‚ Manet has not included the musicians in the painting. The scene is crowded and the composition of people occupies more than half of the canvas. Manet has attempted to capture the hustle-bustle of the modern life of people living during the era. He has
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and neither was willing to give up or alter their view. Alexander Hamilton‚ one of the most important people of the time‚ was the first Secretary of the Treasury. Utilising federal power to modernize the nation‚ he convinced Congress to use an elastic interpretation of the Constitution to pass laws that Jefferson deemed unconstitutional. These laws included federal assumption of the state debts‚ creation of a national bank‚ and a system of taxes through a tariff on imports and a tax on whiskey
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Supply and Demand: The Market Mechanism All societies necessarily make economic choices. Society needs to make choices about‚ what should be produced‚ how should those goods and services be produced‚ and whom is allowed to consumes those goods and services. For conventional economics the market by way of the operation of supply and demand answer these questions. Under conditions of competition‚ where no one has the power to influence or set price‚ the market (everyone‚ producers and consumers together)
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exchange rates are determined 2. The scarcity principle implies that A. people will never be satisfied with what they have B. as wealth increases‚ making choices becomes less necessary C. the prices of scarce goods must rise due to excess demand D. choices must be made and tradeoffs will occur 3. The ’no-free-lunch’ principle is another name for the A. cost-benefit principle B. the scarcity principle C. the ceteris paribus principle D. the marginal (not average) principle
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always been groups that don’t share the same view as the other and are complete opposites. Besides the political parties of the Democrats and the Republicans that are dominant and seen today‚ another famous political feud that took place long ago was between the Federalists and the Antifederalists. Both groups wanted their political views to be recognized in a document that would lay out a new form of government for the newly independent America. Of course‚ this came with its own set of problems since
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