Mars corp. earned $10,000 in january, but mars only received $7,000 of that and the other $3,000 will be received in february. mars only expense was $2,500 for wages. of this amount, mars paid $1,000 during january and will pay the remaining $1,500 on february 1st. what is mars net income for january?
a $7,500
b $6,000
c $9,000
d $4,500

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Suppose farmer lane grows and sells cotton in a perfectly competitive industry. the market price of cotton is $1.64 per kilogram, and his marginal cost of production is $1.44 per kilogram, which increases with output. assume farmer lane is currently earning a profit. can farmer lane do anything to increase his profit in the short run? farmer lane: a. cannot do anything to increase his profit. b. may or may not be able to increase his profit. c. can increase his profit by raising his price. d. can increase his profit by producing more output. e. can increase his profit by shutting down.

Your dormitory, griffingate, has appointed you central banker of its economy, which deals in the currency of wizcoins. assume that the velocity of wizcoins in griffingate is constant at 10,000 transactions per year. right now, real gdp is 1,000 wizcoins, and there are 2,000 wizcoins in existence.