You are considering renting a city apartment with 1,000 square feet for $1,400 per month. The monthly rent on a larger, 1,500-square-foot city apartment is$1,800. The marginal cost of renting an apartment with 500 additional square feet is ..... per square foot per month.
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You are considering renting a city apartment with 1,000 square feet for $1,400 per month. The monthly rent on a larger, 1,500-square-foot city apartment is$1,800.
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- You are a University student who must live off-campus in the second year. There are two types of one-bedroom apartment where you prefer to live because it is near the campus. One rents for $400 per month and the other $360. According to the University Students’ Housing Bureau 80 percent of apartments in the area consists of the $400 type while the remaining 20 percent are of the $360 type. You need to visit the apartments to discover the rent. Suppose the first apartment you visit cost $400 and the opportunity cost of your visit is $6 per visit. 1. If you are risk neutral person should you visit another apartment or rent the one you have found.2. Suppose you visit another apartment and find out that it rents for $400, should you visit another apartment?Suppose your weekly allowance from your parents is $100 and your part-time job pays $10 per hour. The slope of the line plotting the relationship between the hours worked per week (the horizontal axis) and the income per week (the vertical axis) is $. (Enter your response as an integer.) Suppose you start with 10 hours of part-time work and then decide to increase your time working by 3 hour(s). By how much will your weekly income increase? $. (Enter your response as an integer.) Suppose you start with 10 hours of work and then decide you need additional income of $20 per week. How many additional hours would you have to work? hours. (Enter your response as an integer.)If your annual demand for renting videos is P = 7.5 - 2.7Q, If purchasing an membership guarantees that you can rent as movies as you like for $ 0.14 per video. How many movies will you rent per year? 2.72 What is the most that you will pay the for the annual membership? $ 3.8
- This package of sliced cheese costs $2.97. How much would a package with 18 slices cost at the same price per slice? Do not include units ($) in your answer.Jamal has a very flexible summer job. He works every day but is allowed to take a day off anytime he wants. His friend Don suggests they take off work on Tuesday to go to the amusement park. The admission charge for the amusement park is $15 per person, and it will cost them $5 each for gas and parking. Jamal loves amusement parks and a day at the park is worth $40 to him. However, Jamal also enjoys his job so much that he would actually be willing to pay $5 per day maximum to do it a) If Jamal earns $10 if he works, what is the cost and benefit of going to the park? Should he go to the amusement park?Suppose apartments are in four locations: Location A, Location B, Location C, and Location D. Location A is in the city, where your job is. Location B is 10 minutes farther from your job than Location A. Location C is 10 minutes farther from your job than Location B, and Location D is 10 minutes farther than Location C. In turn, similar apartments in Location B rent for $115 less per month than apartments in Location A, apartments in Location C rent for $115 less than in Location B, and apartments in Location D rent for $115 less than in Location C. Suppose the value of your time is $18 per hour and you work 21 days per month, with each day requiring a round-trip commute from your apartment to work. For simplicity, assume rent and the opportunity cost of your time commuting to work are the only factors influencing the location in which to rent an apartment. You should rent an apartment in Suppose you currently rent an apartment in Location B. By moving to optimize, you change your net…
- Hilary no longer needs her old couch. She pays $20 to post an ad in the local paper: "FREE couch—you haul." Jeff needs a couch for his new home. He spots the ad and rents a van for $70 an hour in order to haul the couch. Jeff earns $22 per hour as a loan officer. He takes an hour off work in order to pick up the couch. The transaction costs associated with this exchange areSuppose apartments are in four locations: Location A, Location B, Location C, and Location D. Location A is in the city, where your job is. Location B is 10 minutes farther from your job than Location A. Location C is 10 minutes farther from your job than Location B, and Location D is 10 minutes farther than Location C. In turn, similar apartments in Location B rent for $195 less per month than apartments in Location A, apartments in Location C rent for $195 less than in Location B, and apartments in Location D rent for $195 less than in Location C. Suppose the value of your time is $22 per hour and you work 21 days per month, with each day requiring a round-trip commute from your apartment to work. For simplicity, assume rent and the opportunity cost of your time commuting to work are the only factors influencing the location in which to rent an apartment. You should rent an apartment in Location D Suppose you currently rent an apartment in Location C. By moving to optimize, you…Don Juan Perez runs a seafood restaurant. His total income last year was $150,000. The rent was US$48,000 per year. His labour costs were $42,000 and materials, food and other variable costs were $20,000. Don Juan Perez was going to write a cookbook where he would have earned $40,000 per year, or as a chef de cuisine in another restaurant, where he would have earned $35,000. The economic utility of Don Juan Perez is:(a) 0 (zero) per yearb) 5,000 dollars a yearc) -$35,000 per yeard) $40,000 per year
- Justin builds furniture for a living. Justin's out-of-pocket expenses (for wood, paint, etc.) plus the value that he places on his own time amount to hisSuppose apartments are in four locations: Location A, Location B, Location C, and Location D. Location A is in the city, where your job is. Location B is 10 minutes farther from your job than Location A. Location C is 10 minutes farther from your job than Location B, and Location D is 10 minutes farther than Location C. In turn, similar apartments in Location B rent for $125 less per month than apartments in Location A, apartments in Location C rent for $125 less than in Location B, and apartments in Location D rent for $125 less than in Location C. Suppose the value of your time is $18 per hour and you work 21 days per month, with each day requiring a round-trip commute from your apartment to work. Part 2 For simplicity, assume rent and the opportunity cost of your time commuting to work are the only factors influencing the location in which to rent an apartment.Suppose apartments are in four locations: Location A, Location B, Location C, and Location D. Location A is in the city, where your job is. Location B is 10 minutes farther from your job than Location A. Location C is 10 minutes farther from your job than Location B, and Location D is 10 minutes farther than Location C. In turn, similar apartments in Location B rent for $165 less per month than apartments in Location A, apartments in Location C rent for $165 less than in Location B, and apartments in Location D rent for $165 less than in Location C. Suppose the value of your time is $24 per hour and you work 21 days per month, with each day requiring a round-trip commute from your apartment to work. For simplicity, assume rent and the opportunity cost of your time commuting to work are the only factors influencing the location in which to rent an apartment. You should rent an apartment in