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- What is a production technology?Kohl's takes its net sales and subtracts the cost of goods sold during the previous period. The result is Kohl's gross sales O net income O gross profit net margin O net purchasesQuacion Last year, Jarod left a job that pays $80,000 to run his own bike-repair shop. Jarod's shop charges 365 for a repair, and last year the shop performed 4,000 repairs. Jarod's production costs for the year included rent, wages, and equipment, Jarod spent $60,000 on rent and $120.000 on wages for his employees. Jarod keops whatever preft the shop eams but does not pay himself an olle wage Jarod used $25,000 of his savings to buy a machine for the business. His savings a saming an annual interest rate of 6 percent. a. What is Jarod's annual accounting profi? ( b. What is Jarod's annual economic profit? c. Based on what you have found in parts a and b., should Jarod continue running his bike-repair shop or quilt to return to his former job?
- The four categories of income in the economy are: wages, rent, interest, profit O consumption, investment, government spending, net cxports O consumption, saving, taxcs, government spending O labor, land, capital. tcchnologyonly typed answer Assume that a steel company sold $152 million worth of steel, paid $64 million in wages, purchased $21 million of coal that it uses to produce its steel, and paid $46 million in taxes. What was the value added of this company? A) $152 million. B) $131 million. C) $67 million. D) $21 million.3 Work with a partner. Look at the graph below. Answer the questions to help you read and understand the graph. O- Total DVD revenue -O- Total video streaming revenue Figure 1 18,000 16,000 14,000 12,000 10,000 8000 6,000 4.000 2.000 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 1 The graph compares DVD and video streaming revenue. What do these terms mean? Which line on the graph represents which term? 2 Which years are covered? 3 What is the meaning of the numbers on the vertical axis? 4 In what year did revenue from sales of DVDs equal revenue from video Streaming? 4 Complete the summary with figures from the graph. In 2010, revenue from DVD sales was worth abput n Smilion
- Assume an economy where there are two producers: a wheat producer and a bread producer. In agiven year, the wheat producer grows 3 million tonnes of wheat, of which 2.5 million tonnes aresold to the bread producer at $30 per bushel, and 0.5 million tonnes are stored by the wheatproducer to use as seed for next years crop. The bread producer produces and sells 100 millionloaves of bread to consumers for $3.50 per loaf. Determine GDP in this economy during this yearusing the product and expenditure approaches.Can you help me with these and show me how you did it by using Excel Thank you for your time :) The seconde image how it looksConsider the data below for the Price of a single family home based up its size in square feet, the size of the lot in acres and the number of bedrooms. Price Sq Ft acres BRS $500,000 1400 0.45 $600,000 1,800 0.5 $550,000 1,600 0.33 is $1,000,000 2,200 $650,000 1800 125 $450,000 1,200 0.2 $425,000 $650,000 1200 0.75 3. 1,750 05 4. Using only the size of the house in square feet and the size of the lot in acres, determine the slope coefficient associated with the house size (Słope 1) for the house Cost Estimating Your Answer: Answer
- Define factors of production and describehow they contribute to output.# 13 Aabir, a milk farmer, earns $300k per month in revenue. His monthly costs include Administrative costs $40k, Feed $60k, Equipment & maintance $40k, Labor $70k, Transportation $10k, Miscellaneous $20k. Foregone rent for the land used for the cattle grazing $10k. Value of his son's time that helps on weekends $2k, Owner's salary $ 10k, Aabir's accounting & economic profit respectively are: a.) 60k & 48k b.) 50k & 38k c.) 60k & 38k d.) 38k & 38kMicroeconomics Jon quit his job as a manager at West End Savings bank where he earned $112,000 a year. He cashed in $214,000 in corporate bonds that earned 1.0% interest annually to set up a gym. Jon has decided to buy a store front and set up exercise classes. There are 1400 people who will pay $1200 a year for unlimited classes; $850 from each person goes for instructors, maintenance, equipment, insurance, depreciation etc. Write the answers to the following questions on the answer sheet. (You must show your work.) 1. List 2 (in numbers) 2 implicit costs that Jon has not included. 2. What is Jon’s pure economic profit (or loss) in numbers?