Jessica Simpson has decided to open a small fast food place that specializes in Buffalo wings. To do so she must resign from her current full time position which pays her $40,000/year and take over a small store-front building which she already owns but currently rents to her brother, Homer, for $6,000/year. Her annual expenses at the restaurant will be $50,000 for the food and $2,000 for gas and electricity. What are her explicit costs

What preforms the best over the long term? a) bonds b) mutual funds c) stocks d) certificate of deposit

Which of the following is a competitive benefit experienced by the first mover firm in an industry? a. the first mover will be able to achieve a less steep learning curve. b. the first mover will be able to reduce the switching costs. c. the first mover will not have to patent its products or technology. d. the first mover will be able to reduce costs through economies of scale.

Joint cost cheyenne, inc. produces three products from a common input. the joint costs for a typical quarter follow: direct materials $45,000 direct labor 55,000 overhead 60,000 the revenues from each product are as follows: product a $75,000 product b 80,000 product c 30,000 management is considering processing product a beyond the split-off point, which would increase the sales value of product a to $116,000. however, to process product a further means that the company must rent some special equipment costing $17,500 per quarter. additional materials and labor also needed would cost $12,650 per quarter. a. what is the gross profit currently being earned by the three products for one quarter? $answer b. what is the effect on quarterly profits if the company decides to process product a further? $answer