Rodriguez operates a variety store that provides an annual revenue of $480 000. Each year‚ he pays $25 000 in rent for the store‚ $15 000 in business taxes‚ and $350 000 on products to sell. He estimates he could put the $80 000 he has invested in the store into his friend’s restaurant business instead and earn an annual 20 percent profit on his funds. He also estimates that he and his family could earn a total annual wage of $90 000 if they worked somewhere other than the store. a. Calculate
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DQ 1 There connection between human motivation and behavior modification in my opinion and that is because all behavior follows a set of consistent rules. Methods can be developed for defining‚ observing‚ and measuring behaviors‚ as well as designing effective interventions. Behavior modification techniques never fail. Rather‚ they are either applied inefficiently or inconsistently‚ which leads to less than desired change. All behavior is maintained‚ changed‚ or shaped by the consequences of that
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Econ 302 Name:_____________________ Fall 2014 Problem Set 1 (Thursday September 18‚ 2014 In class – no extensions) Please Print and Answer in the Provided Space 1) Consider the following estimates for an iPad sold in Canada in 2010: retail price $550 (say at Best Buy)‚ Apple (a U.S. corporation) wholesale price $475‚ Apple intermediate costs $385. Of Apple’s intermediate costs‚ $100 was wholly produced by U.S. manufacturers‚ and $285 from other foreign producers. Suppose the production chain was
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unrealized intercompany profit in inventory Exercise 6-2 Reported Net Income- S Company $ 525‚000 Noncontrolling Interest Percentage 0.20 Noncontrolling Interest in Net Income $ 105‚000 Exercise 6-3 2011 Reported net income $ 30‚000 Unrealized intercompany profit included therein = $5‚200; $5‚200 0.25 = (1‚300) Profit included in consolidated income 28‚700 Percentage interest 0.10 Noncontrolling
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good 1‚ we obtain: x1* = I / 2px1 b) x1* = 24 / (2∙1) = 12 x2* = 24 / (2∙2) = 6 c) x1* = 24 / (2∙1) = 12 x2* = 24 / (2∙3) = 4 d) Substitution effect = ɗx/ɗpx = – I/2px2 Income effect = – xɗx/ɗI = – x/2px The price of good 1 did not change‚ so there is no effect. The price of good 2 rose to €3. Substitution effect = – 24 / (2∙32) = – 1‚33 Income effect = – 4 / (2∙3) = –
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SOLUTIONS Financial Management Seminar + Homework‚ Week 5 1. Starware Software was founded last year to develop software for gaming applications. Initially‚ the founder invested $800‚000 and received 8 million shares of stock. Starware now needs to raise a second round of capital‚ and it has identified an interested venture capitalist. This venture capitalist will invest $1 million and wants to own 20% of the company after the investment is completed. a. How many shares must the venture capitalist
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Selected answer key for problem set 1 Econ262 C1.2 (i) There are 1‚388 observations in the sample. Tabulating the variable cigs shows that 212 women have cigs > 0. (ii) The average of cigs is about 2.09‚ but this includes the 1‚176 women who did not smoke. Reporting just the average masks the fact that almost 85 percent of the women did not smoke. It makes more sense to say that the “typical” woman does not smoke during pregnancy; indeed‚ the median number
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Economics Exam #3 Review 1. Characteristics of competitive markets (3): There must be many buyers and sellers‚ none of whom can have a large market share‚ a few players cannot dominate the market. Firms must produce a standardized product‚ buyers must see all their products as equivalent. (Identical (Homogenous) Products). Firms and resources are typically fully mobile‚ allowing free exit and entry. These three conditions make all consumers and producers price-takers. Models: Section 12.2
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What is Economics? So Many Programs‚ So Little Time Preparation A Few Words About Prerequisites Transfer Students How to Declare Your Major Comprehensive Exam Maintaining Good Standing in the Major Education Abroad Program (EAP) 1 2 2 3 3 3 3 5 5 5 The Programs & Requirements Economics Major Business Management Economics Major Global Economics Major Minor in Economics Combined Majors Other Courses That Count as Economics 4 6-7 8-9 10 10-11 12 Dual Degree Pathway
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Chapter 3: Business Organizations This chapter deals with the economic organizations that are found in our economy. Most businesses operate in search of profits. Others are organized and operate like a business‚ although profits are not their primary concern. Section 1 deals with the three main forms of business organization. The first is the sole proprietorship‚ which is a business owned and operated by one person. The second is the partnership‚ which is a business jointly owned by two or
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