Ben quit his job as an economics professor to become a golf professional. He gave up his $30,000 salary and invested his retirement fund of $50,000 (which was earning 10 percent interest) in this venture. After all expenses, his net winnings were $35,000. Ben's economic profits were ___.

The table shows the demand and supply schedules for magazines. complete the following sentences. the equilibrium price of a magazine is $ 4 and the equilibrium quantity is 150 magazines a week. price (dollars per magazine) quantity demanded quantity supplied (magazines per week) 3.00 160 138 3.50 155 144 4.00 150 150 4.50 145 156 5.00 140 161 now a fall in the price of a newspaper decreases the quantity demanded by 11 magazines a week at each price. at the original equilibrium price, a occurs. to return to equilibrium, the price of a magazine a. surplus; rises b. shortage; rises c. shortage; falls d. surplus; falls as the market returns to equilibrium, the quantity demanded and the quantity supplied a. decreases; increases b. decreases; decreases c. increases; decreases d. increases; increases the new equilibrium price is $ nothing a magazine.

(30 total points) suppose a firm’s production function is given by q = l1/2*k1/2. the marginal product of labor and the marginal product of capital are given by: mpl = 1/ 2 1/ 2 2l k , and mpk = 1/ 2 1/ 2 2k l . a) (12 points) if the price of labor is w = 48, and the price of capital is r = 12, how much labor and capital should the firm hire in order to minimize the cost of production if the firm wants to produce output q = 18?

Let's consider a hypothetical airline, mudlarks airlines. on one of its flights, precious records show that about 15% of people who had tickets for the flights did not take the flight. there are 120 seats on the plane. 1. how many tickets should mudlarks airlines sell for this flight? 2. as an added consideration, suppose that tickets on this flight cost a flat rate of $250. in addition, mudlarks airlines must give any traveler who purchased a seat for the flight, but who cannot travel due to overbooking, a $400 certificate for their trouble. does this change your answer in question one? now, suppose that mudlarks airlines forms a partnership itch another airline, puffin air. their agreement allocates 100 seats on the flight to mudlarks airlines and another 20 seats to puffin air. the 2 airlines sell tickets for the flight independently of each other. 3. assuming the same 15% no show percent for each airline, how many tickets should each sell?