Wanda owns a lemonade stand.  She produces lemonade using five inputs:  water, sugar, lemons, paper cups, and labor.  Her costs per glass are as follows:  $0.01 for water, $0.02 for sugar, $0.03 for lemons, $0.02 for cups, and $0.10 for the opportunity cost of her labor.  She can sell 300 glasses for $0.50 each. What are Wanda’s total accounting profits?

Katherine gives piano lessons for $15 per hour.  She also grows flowers, which she arranges and sells at the local farmer’s market.  One day she spends 5 hours planting $50 worth of seeds in her garden.  Once the seeds have grown into flowers, she can sell them for $150 at the farmer’s market.  Katherine’s accounting profits are

Wanda owns a lemonade stand.  She produces lemonade using five inputs:  water, sugar, lemons, paper cups, and labor.  Her costs per glass are as follows:  $0.01 for water, $0.02 for sugar, $0.03 for lemons, $0.02 for cups, and $0.10 for the opportunity cost of her labor.  She can sell 300 glasses for $0.50 each.         What are Wanda’s total economic profits?

Our THIRD exam is on weeks five and six.  Read weeks 5 and 6 ( Readings, quizzes and discussion boards) carefully before taking your exam.This is our second exam and it has 40 questions which have 100 points.You have TWO attempt for the test. I will put your highest attempt grade as your exam grade.You are supposed to submit your exam in one sitting, you cannot save it and come back later to submit it).you have 120 minuets (two hours) to finish this test. Also please make sure to submit your exams by deadlines. Your grades will be lowered by one full letter for each day late submission. One-day late submission is accepted with 10% off the max grade.  Two-day late submission is accepted with 20% off the max grade. Beyond that late submission is accepted with 30% off the max grade.   Good Luck.

Good Price Elasticity of Demand A 1.3 B 2.1 Which of the following is consistent with the elasticities given in Table?

Let L represent the number of workers hired by a firm, and let Q represent that firm’s quantity of output. Assume two points on the firm’s production function are (L = 5, Q = 125) and (L = 6, Q = 162). Then the marginal product of the 6th worker is

The following table shows the private value, private cost, and external cost for various quantities of output in a market.  Quantity Private Value Private Cost External Cost  1 $14  $10  $2   2 $13  $11  $2   3 $12  $12  $2   4 $11  $13  $2   5 $10  $14  $2   6 $9  $15  $2   7 $8  $16  $2  What is the equilibrium quantity of output in the market?

When demand is inelastic, the price elasticity of demand is

The heterologous extrinsic internal control, controls for _____________:

The ability of a typing method to distinguish between unrelated strains describes which of the following criteria?