Suppose a fishing boat currently brings 10,000 fish to market each day and earns a profit of $40,000 when the price of fish is $12 . Suppose that there are 100 workers on the boat, and each works 10 hours each day. If their health insurance premiums, paid by the boat owner, increase by $80 per worker, what will the new profit be?
a. $80,000
b. a loss of $40,000
c. $48,000
d. $32,000
e. a loss of $760,000
D
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A decrease in the quantity of money supplied shifts the money supply curve to the ________, and the equilibrium interest rate ________, everything else held constant
A) right; falls B) right; rises C) left; falls D) left; rises
Open market operations alter the money supply by ________
A) influencing banks' ability to make loans to individuals and corporations B) adding currency to or withdrawing currency from banks' vaults C) adding currency to or withdrawing currency from the checking accounts of individuals and corporations D) influencing banks' ability to make loans to the government E) none of the above
Economic rents are typically counted as:
A) accounting costs but not economic costs. B) accounting and economic costs. C) economic costs but not accounting costs. D) none of the above
In its function of controlling the money supply, the Fed does all but which one of the following?
a. buys and sells U.S. government securities b. sets the legal reserve requirement c. sets the discount rate d. engages in open market operations e. prints currency