The firm uses 3 units of capital (the Fixed Input), and the rent on capital is $200 per unit per day. The firm must hire between 1 to 5 units of labor (the Variable Input), and the cost of labor is $60 per worker per day. Depending on how much labor the firm hires, output (Total Product) is one of the following: q1= 1 q2= 3 q3= 8 q4= 12 q5= 15 What is the Marginal Cost (MC) when 5 units of labor are used? (Do not include the dollar sign $ in your answer)

Abusiness cycle reflects in economic activity, particularly real gdp. the stages of a business cycle

Simon, aged 10, is invited to a classmate's birthday party at an exclusive ski resort on march 15th. the day will include 4 hours of snowboarding, lunch and birthday cake. simon's mother checks a box on the invitation that says "yes, we will attend" and returns it to the classmate's address. unfortunately, they later don't attend the party when simon comes down with the flu. on march 17th, simon's mother receives an invoice in the mail from simon's classmate for $35 that says, "party no-show fee." can simon's classmate collect the fee?

Jaynet spends $50,000 per year on painting supplies and storage space. she recently received two job offers from a famous marketing firm – one offer was for $95,000 per year, and the other was for $120,000. however, she turned both jobs down to continue a painting career. if jaynet sells 35 paintings per year at a price of $6,000 each: a. what are her accounting profits? b. what are her economic profits?