SophiaPretty

(5)

$14/per page/Negotiable

About SophiaPretty

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Accounting,Algebra See all
Accounting,Algebra,Applied Sciences,Architecture and Design,Art & Design,Biology,Business & Finance,Calculus,Chemistry,Communications,Computer Science,Economics,Engineering,English,Environmental science,Essay writing Hide all
Teaching Since: Jul 2017
Last Sign in: 304 Weeks Ago, 3 Days Ago
Questions Answered: 15833
Tutorials Posted: 15827

Education

  • MBA,PHD, Juris Doctor
    Strayer,Devery,Harvard University
    Mar-1995 - Mar-2002

Experience

  • Manager Planning
    WalMart
    Mar-2001 - Feb-2009

Category > Business & Finance Posted 05 Sep 2017 My Price 10.00

Suppose that a young chef opened his own restaurant.

Chapter 7 (Microeconomics, Katz and Rosen, 3rd Edition)

 

Q7.1

Suppose that a young chef opened his own restaurant. To do so, he quit his job, which was paying $28,000 per year; cashed in a $5,000 certificate of deposit that was yielding 5 percent (to purchase equipment); and took over a building owned by his wife which has been rented out for $1,000 per month. His expenses for the first year amounted to $50,000 for food, $40,000 for extra help, and $4,000 for utilities.

The chef is trying to figure out whether he would have been better off not being in business last year. He knows how to calculate his revenues, but he needs help with the cost side of the picture? What were the chef’s total economic costs?

 

Q7.2

Suppose that you have opened your own word processing service. You bought an IBM-compatible machine based on the Intel Pentium chip. You paid $5,000 for the machine. As a result of increased competition in the personal computer market, the price of new Pentium machines has fallen to $2,500 and the price at which you could sell your used machine has fallen to $1,000. If you were not word processing, you could earn $20,000 per year. You have the opportunity to hire one assistant (he can do everything that you can do and could replace you) for $20,000 per year. It turns out that one person using one computer can produce 11,000 pages per year of typing service (it is impossible for two people to share one machine). Typing services can be sold for $2 per page.

 

Should you expand your business, shrink it but keep it running, or shut it down entirely?

Attachments:

Answers

SophiaPretty
(5)
Status NEW Posted 05 Sep 2017 06:09 AM My Price 10.00

Hel-----------lo -----------Sir-----------/Ma-----------dam----------- T-----------han-----------k Y-----------ou -----------for----------- us-----------ing----------- ou-----------r w-----------ebs-----------ite----------- an-----------d a-----------cqu-----------isi-----------tio-----------n o-----------f m-----------y p-----------ost-----------ed -----------sol-----------uti-----------on.----------- Pl-----------eas-----------e p-----------ing----------- me----------- on----------- ch-----------at -----------I a-----------m o-----------nli-----------ne -----------or -----------inb-----------ox -----------me -----------a m-----------ess-----------age----------- I -----------wil-----------l

Not Rated(0)