MICROECONOMICS LL W CONNECT 21E
21st Edition
ISBN: 9781307215328
Author: McConnell
Publisher: MCG/CREATE
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Question
Chapter 2, Problem 3P
To determine
The profit of the bread production.
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The 8th graders are volunteering to make and sell organic pesticides, called Sweet4Bees, that will protect
plants in local gardens without harming bees. The teens also plan to donate some of their product to
local nursing homes to use in their gardens. Jade is so excited! She's already started a business log in her
notebook, including a graph with a break-even point of 34 bottles sold.
Suppose all Jade's notes become true. What is the club's overall profit per ounce of pesticide solution,
when 26 bottles have been donated to the nursing homes? Round to the nearest cent.
Sweet4Bees Business Log
Sweet4Bees!
Production Expenses: $1.45 (empty bottle),
$0.05 (label), cost of ingredients (not sure right
now, I'll call it $m)
Taxes & Fees: none!
Sales
Selling Cost: $9.72/bottle
Start-Up Expenses: $65.88
Expenses
(high-speed mixer), $55 (pans),
$26 (kitchenware)
• Each bottle holds 12 oz of pesticide
concentrate.* Directions for preparing
solution: Mix 7 parts water to 1 part
Sweet4Bees…
Francis wants to buy some paintings for their store to make it feel more classy. Francis would need to take $20,000 out of their savings account (which earns 1% interest a year) in order to finance the paintings. At the end of the year, Francis knows they could sell the paintings for $20,000 but they would choose not to. When calculating this year's economic profit, Francis would count this as a:
a.
explicit cost of $20,000 and an implicit cost of $2,000.
b.
explicit cost of $20,000 and an implicit cost of $20,000.
c.
explicit cost of $20,000.
d.
implicit cost of $2,000.
1.5) You use RM50,000 of your own money to start an espresso
stand. During the first year you earn a 10% return on that
investment. If the current interest rate on savings is 8%, you earn
an economic profit of
Working Calculation:
Chapter 2 Solutions
MICROECONOMICS LL W CONNECT 21E
Ch. 2.2 - Prob. 1QQCh. 2.2 - Prob. 2QQCh. 2.2 - Prob. 3QQCh. 2.2 - Prob. 4QQCh. 2 - Prob. 1DQCh. 2 - Prob. 2DQCh. 2 - Prob. 3DQCh. 2 - Prob. 4DQCh. 2 - Prob. 5DQCh. 2 - Prob. 6DQ
Ch. 2 - Prob. 7DQCh. 2 - Prob. 8DQCh. 2 - Prob. 9DQCh. 2 - Prob. 10DQCh. 2 - Prob. 11DQCh. 2 - Prob. 12DQCh. 2 - Prob. 13DQCh. 2 - Prob. 1RQCh. 2 - Prob. 2RQCh. 2 - Prob. 3RQCh. 2 - Prob. 4RQCh. 2 - Prob. 5RQCh. 2 - Prob. 6RQCh. 2 - Prob. 7RQCh. 2 - Prob. 8RQCh. 2 - Prob. 1PCh. 2 - Prob. 2PCh. 2 - Prob. 3PCh. 2 - Prob. 4P
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