Xavier opens up a lemonade stand for two hours. he spends $10 for ingredients and sells $60 worth of lemonade. in the same two hours, he could have mowed his neighbor’s lawn for $40. xavier has an accounting profit of and an economic profit of
a) $50, $10b) $90, $50c) $10, $50d) $50, $90

You were able to purchase two tickets to an upcoming concert for $100 apiece when the concert was first announced three months ago. recently, you saw that stubhub was listing similar seats for $225 apiece. what does it cost you to attend the concert?

Post test question number 9 for entering the job market

Total marketing effort is a term used to describe the critical decision factors that affect demand: price, advertising, distribution, and product quality. define the variable x to represent total marketing effort. a typical model that is used to predict demand as a function of total marketing effort is based on the power function: d = axb suppose that a is a positive number. different model forms result from varying the constant b. sketch the graphs of this model for b = 0, b = 1, 0< b< 1, b< 0, and b> 1. (we encourage you to use excel to do this.) what does each model tell you about the relationship between demand and marketing effort? what assumptions are implied? are they reasonable? how would you go about selecting the appropriate model?