Last chance mine (lc) purchased a coal deposit for $1,348,500. it estimated it would extract 14,500 tons of coal from the deposit. lc mined the coal and sold it, reporting gross receipts of $1.41 million, $4.8 million, and $3.7 million for years 1 through 3, respectively. during years 1–3, lc reported net income (loss) from the coal deposit activity in the amount of ($10,700), $517,500, and $512,500, respectively. in years 1–3, lc actually extracted 15,500 tons of coal as follows: (leave no answer blank. enter zero if applicable. enter your answers in dollars and not in millions of dollars.)

(1) (2) depletion (2)/(1) tons extracted per year
tons of coal basis rate year 1 year 2 year 3
14,500 $1,348,500 $93.00 3,250 7,350 4,900
a. what is last chance's cost depletion for years 1, 2, and 3?

b. what is last chance's percentage depletion for each year (the applicable percentage for coal is 10 percent)?

c. using the cost and percentage depletion computations from the previous parts, what is last chance’s actual depletion expense for each year?

answer makes less frequent trips to the bank and firms make less frequent price changes;

answer: in the short-run firms will respond by raising the price of turkey.

explanation: initially the long-run equilibrium is at a price of $5 per pound of turkey and a quantity of 50 million pounds per year. now, when webmd claims that a protein found in turkey will increase your expected lifespan by 4 years. the consumers demand for turkey will increase at every price shifting the demand curve to the right from d1 to d2. while, there will be no change in the supply curve in the short-run as it is not possible for producers to adjust supply so quickly. as a result the new equilibrium will occur at a higher price and a higher quantity of turkey.

thus, in the short run firms will respond by increasing the price of turkey, selling more quantity at a higher price and earning economic profits.

gather the things you’ll need. it’s best to have a parent or guardian to you open an account. the parent or guardian can co-sign your account, which means that they’ll sponsor you. as co-signers, they’ll need to bring two forms of current photo id. if they only have one piece of photo id, their second id may be a current major credit card or gas card.