Suppose you are the new owner of a picture frame store and your current fixed costs total $50,000 (real estate taxes, interest on a bank loan, etc). In addition, your current unit variable cost for a picture is $50 (which includes labor, glass, frame, and matting). What is the price necessary to break-even by selling a quantity of 1,000 frames

The basic difference between macroeconomics and microeconomics is that: a. microeconomics looks at the forest (aggregate markets) while macroeconomics looks at the trees (individual markets). b. macroeconomics is concerned with groups of individuals while microeconomics is concerned with single countries. c. microeconomics is concerned with the trees (individual markets) while macroeconomics is concerned with the forest (aggregate markets). d. macroeconomics is concerned with generalization while microeconomics is concerned with specialization.

True or false entrepreneurs try to meet the needs of the marketplace by supplying a service or product

You are a newspaper publisher. you are in the middle of a one-year rental contract for your factory that requires you to pay $500,000 per month, and you have contractual labor obligations of $1 million per month that you can't get out of. you also have a marginal printing cost of $.25 per paper as well as a marginal delivery cost of $.10 per paper. if sales fall by 20 percent from 1 million papers per month to 800,000 papers per month, what happens to the afc per paper?