If firms in a competitive industry begin to earn profit in the short run, new firms will enter. This will shift the industry a.
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The returns of a capital amount to a compensation rate for depositing the money, to calculate these returns an interest rate is used by which the deposited capital is multiplied, in this case the rate is 4%.
As the money distributed is only the product of interest, then that money is the result of multiplying the capital by the interest rate, to obtain how much money Mr. Jefferson contributed, the reverse process will have to be done.
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let <em>C</em> be the capital, then :
The capital contributed by Mr. Jefferson was <em>$4,262,500</em>