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yan [13]
3 years ago
12

Maxwell and Smart are forming a partnership. Maxwell is investing a building that has a market value of $180,000. However, the b

uilding carries a $56,000 mortgage that will be assumed by the partnership. Smart is investing $120,000 cash. The balance of Maxwell's Capital account will be:
Business
1 answer:
Margarita [4]3 years ago
8 0

Answer:

The balance of Maxwell's Capital account will be $124,000

Explanation:

The computation of the Maxwell capital account balance is shown below:

= Market value of the building - mortgage on the building

= $180,000 - $56,000

= $124,000

The cash invested by the smart is not considered in the computation part because the question has asked for the Maxwell, not for smart. So, we ignored it.

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AP MICROECONOMICS 1. GW Company produces and sells hats in a perfectly competitive market at a price of $2 per hat. Assume that
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Answer:

With the information in the question, we can make the following table:

Number of        Output of     Marginal  Marginal  Marginal

workers/day     hats/day       Product   Revenue  Cost

0                        0                    0              $0             $0

1                         10                   10            $20           $15

2                        26                  16            $32           $15

3                        36                  10            $20           $15

4                        44                  8              $16            $15

5                        49                  5             $10            $15

6                        52                  3             $6             $15

(a) After which worker do diminishing marginal returns begin?

As it can be seen in the table, after the third worker is hired, the diminishing marginal returns begin, because while the marginal product of the second worker is 16 hats, the marginal product of the third worker is 10 hats.

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The marginal product of the fifth worker is 5 hats.

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The marginal revenue of the third worker is $20.

(d) How many workers will GW hire to maximize profit?

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If two workers are hired, the total revenue is $52. If the company has fixed costs of $20, and hires two workers costing each $15, the total costs are $50, therefore, in the short-run, the profit is $2.

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6 0
3 years ago
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grandymaker [24]

Answer:

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