Comments on: Business Profits With Social Book Marketing http://worldpace.biz/social-media-marketing/business-profits-with-social-book-marketing We are here for all of your Internet Marketing Needs! Sat, 08 Oct 2011 02:25:56 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: captainhook3000 http://worldpace.biz/social-media-marketing/business-profits-with-social-book-marketing/comment-page-1#comment-7303 captainhook3000 Thu, 22 Jul 2010 17:06:59 +0000 http://worldpace.biz/social-media-marketing/business-profits-with-social-book-marketing#comment-7303 No one is going to do your homework<br><b>References : </b><br> No one is going to do your homework
References :

]]> By: Love big words http://worldpace.biz/social-media-marketing/business-profits-with-social-book-marketing/comment-page-1#comment-7302 Love big words Thu, 22 Jul 2010 17:04:59 +0000 http://worldpace.biz/social-media-marketing/business-profits-with-social-book-marketing#comment-7302 It's $3.79 It's in equilibrium.<br><b>References : </b><br> It’s $3.79
It’s in equilibrium.
References :

]]> By: A.G http://worldpace.biz/social-media-marketing/business-profits-with-social-book-marketing/comment-page-1#comment-7301 A.G Thu, 22 Jul 2010 12:02:09 +0000 http://worldpace.biz/social-media-marketing/business-profits-with-social-book-marketing#comment-7301 <b>DIFFICULT economics question! help!?</b><br>3.An aspiring young Harvard alum named Christine decides to start her own economic consulting firm. To do so, she quits her job as an economist at the Boston Fed, where she earned $70,000 per year. She cashes in $10,000 worth of U.S. Treasury bonds which paid 10% interest in order to buy computer equipment for her firm. To serve as an office, she converts an apartment she owns and used to rent out to tenants at $1,500 per month. Her expenses during the first year amount to: $5,000 for computer equipment; $15,000 to pay her staff; and $5,000 for supplies, all of which she figures she will use up during the year. In your answers to the following, show your calculations. a.What is Christine’s total accounting cost of running the firm for one year? b.What is Christine’s total economic cost of running the firm for one year? c.If her revenues during the year are $100,000, what is her accounting profit for the year? What is her economic profit for the year? Explain any difference you find. 4.The market for moisturizing lotion is perfectly competitive, with many buyers and sellers, all acting as price-takers. There are no barriers to entry (or exit) for the lotion market, so any idiot off the street can rub a couple of aloe vera plants together and start a lotion business! The market price is currently $5 per liter of lotion. Larry’s Lotions is a typical firm in this market, and faces U-shaped AC and AVC curves. Larry’s produces and sells the profit-maximizing quantity, 200 liters of lotion per month, at a total cost of $1,500 per month. a.Assuming all firms are identical to Larry’s Lotions, explain: (i)Why this market is not at long-run equilibrium; (ii)What will happen to push the market back to long-run equilibrium. b.On a single graph, show Larry’s marginal cost, average cost, and marginal revenue curves. On the same graph, label the quantity that Larry’s supplies to the market, and also show any economic profit or loss that Larry’s is incurring. c.Larry’s total monthly fixed costs are $300. In the short run, should Larry’s shut down? Why or why not? 5.Hoping to build on the success of her autobiography, Life Without a Brain, Britney Spears is about to release her new book, called Looking Fab After Rehab. The demand and supply curves for the book are given by: QD = 210 – 3P QS = –20 + 2P a.Find the equilibrium price and quantity in the market for the book. b.Calculate the numerical value of consumer surplus, producer surplus, and social surplus in this market, given the equilibrium price and quantity you found in part a. DIFFICULT economics question! help!?
3.An aspiring young Harvard alum named Christine decides to start her own economic consulting firm. To do so, she quits her job as an economist at the Boston Fed, where she earned $70,000 per year. She cashes in $10,000 worth of U.S. Treasury bonds which paid 10% interest in order to buy computer equipment for her firm. To serve as an office, she converts an apartment she owns and used to rent out to tenants at $1,500 per month. Her expenses during the first year amount to: $5,000 for computer equipment; $15,000 to pay her staff; and $5,000 for supplies, all of which she figures she will use up during the year.

In your answers to the following, show your calculations.

a.What is Christine’s total accounting cost of running the firm for one year?

b.What is Christine’s total economic cost of running the firm for one year?

c.If her revenues during the year are $100,000, what is her accounting profit for the year? What is her economic profit for the year? Explain any difference you find.

4.The market for moisturizing lotion is perfectly competitive, with many buyers and sellers, all acting as price-takers. There are no barriers to entry (or exit) for the lotion market, so any idiot off the street can rub a couple of aloe vera plants together and start a lotion business!

The market price is currently $5 per liter of lotion.

Larry’s Lotions is a typical firm in this market, and faces U-shaped AC and AVC curves. Larry’s produces and sells the profit-maximizing quantity, 200 liters of lotion per month, at a total cost of $1,500 per month.

a.Assuming all firms are identical to Larry’s Lotions, explain:

(i)Why this market is not at long-run equilibrium;
(ii)What will happen to push the market back to long-run equilibrium.

b.On a single graph, show Larry’s marginal cost, average cost, and marginal revenue curves. On the same graph, label the quantity that Larry’s supplies to the market, and also show any economic profit or loss that Larry’s is incurring.

c.Larry’s total monthly fixed costs are $300. In the short run, should Larry’s shut down? Why or why not?

5.Hoping to build on the success of her autobiography, Life Without a Brain, Britney Spears is about to release her new book, called Looking Fab After Rehab.

The demand and supply curves for the book are given by:

QD = 210 – 3P
QS = –20 + 2P

a.Find the equilibrium price and quantity in the market for the book.

b.Calculate the numerical value of consumer surplus, producer surplus, and social surplus in this market, given the equilibrium price and quantity you found in part a.

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