Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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Category > Management Posted 01 Nov 2017 My Price 5.00

vinegar bottling firm

One year ago, Jack and Jill set up a vinegar bottling firm (called JJVB). Use the following data to calculate JJVB’s opportunity cost of production during its first year of operation:

â–  Jack and Jill put $50,000 of their own money into the firm and bought equipment for $30,000.

â–  They hired one worker at $20,000 a year.

â–  Jack quit his old job, which paid $30,000 a year, and worked full-time for JJVB.

â–  Jill kept her old job, which paid $30 an hour, but gave up 500 hours of leisure a year to work for JJVB. â–  JJVB bought $10,000 of goods and services.

â–  The market value of the equipment at the end of the year was $28,000.

â–  Jack and Jill have a $100,000 home loan on which they pay interest of 6 percent a year.

 

Answers

(5)
Status NEW Posted 01 Nov 2017 02:11 PM My Price 5.00

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