PRINCIPLES OF MICROECONOMICS 1201
Assigned: July 31, 2019
Due: Aug12, 2019
Use the following data to work Problems a and b.
Joe is a computer programmer who earned $35,000 in 2016. But on January 1, 2017, Joe opened a body board manufacturing business. At the end of the first year of operation, he submitted the following information to his accountant:
He spent $50,000 on materials, phone, etc.
He leased machines for $10,000 a year.
He paid $15,000 in wages.
He used $10,000 from his savings account, which earns 5 percent a year interest.
He borrowed $40,000 at 10 percent a year.
Use the following information to answer problems a,b, and c
Moore â€œfast foodâ€ shop
Most retailers are blaming the economy for their poor sales, but one store chain that sells â€œfast foodâ€ is boldly declaring that an economic downturn can actually be a boom for its business. Last year, Moore â€œfast foodâ€ took in $20 million in sales, up 5% from the previous year.
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