Independent, classroom, activist, pragmatic
Answer:
PV of the sales price $1,986,948.23
Explanation:
We will calcualte the present value of the sale price using the present value of a lump sum formula:
Maturity 3,200,000
time 5 years
rate 10% = 10/100 = 0.1
PV $1,986,948.2338
This indicates the 3,200,000 in five years are equivalent to 1,986,948.23 dollars Thus, this investment is not profitable as the property will be purchased at 2,200,000
Answer:
A. Time series
B. Cross Sectional
C. Panel
D. Cross Sectional
Explanation:
(a) Quarterly data on the level of U.S. new housing construction from 2000 to 2018, Time series data, numerical
(b) Data on number of doctor visits in 2018 for a sample of 192 individuals. Cross sectional data, numerical
(c) Data on annual health expenditures for each U.S. state from 2000 to 2018. Panel Data, Numerical
(d) Data on usual mode of transportation used to commute to work for a sample of 151 individuals. Categorical
Answer:
Joe's Pizza Parlor
The highest number of workers that Joe will hire if he must pay each one $35 a day is
4 workers.
If he wants to maximize his profits without satisfying customers' demand, Joe can choose to work with 2 or 3 workers. However, he can renegotiate the worker's wages downwards.
Explanation:
a) Data and Calculations:
Price of pizza = $5
Wage per worker = $35/day
Number of Workers 0 1 2 3 4 5
Pizzas Baked Per Day 0 12 18 24 30 32
Total revenue 0 60 90 120 150 160
Marginal revenue 0 60 30 30 30 10
Marginal cost of labor 0 35 70 105 140 175
Profit 0 25 20 15 10 -15
