1. Prepare financial statements (IS., OE S., BS.):

building 100.000, land 50.000, cash 30.000, AP 30.000, bank loan 60.000, AR 12.000, unearned revenue 8.000, equipment 60.000, car 40.000, supplies 18.000, NR 40.000, rent payable 2.000, capital ??, drawings 10.000, service revenue 100.000, rent exp. 15.000, salaries exp. 25.000

In this market, price is given by P= 24 - Q/2. Firm 1 moves first, the firm 2. The firms have the cost functions C(q)= q^2.

1. Find the marginal revenue for firm 2.

2. What is the reaciton function for firm 2?

3. Find the marginal revenue for firm 1.

4. What is the equilibrium price and quantity?

Complaints are often made that the gasoline industry colludes to maintain monopoly profits for the oil companies. Following Hurricane Katrina, supply of gasoline from refineries to gasoline providers was reduced. As a result, gasoline industry revenue increased. Critics contended that the higher revenue was clear evidence of collusion in the gasoline industry to raise prices and generate monopoly profits. Provide an economics critique of this argument.

1.

We know that average _______ cost is ______ when marginal cost is less than average total cost.

2.

In the short run, if a company shuts down, which of the following will happen?

3.

Output levels will maximize total economic profits in the short run in which of the following situations?

4.

Which of the following is true of the industry short-run supply curve?

1. In perfect competition, the price of the product is determined where the market

2.

At the profit-maximizing level of output for a perfectly competitive firm, price equals marginal cost. Which of the following is also true?

3.

In perfect competition, the marginal revenue of an individual firm

4.

In a perfectly competitive market, if a firm finds it is producing an amount of output such that its marginal cost exceeds its price, it will

13. Suppose a firm in a competitive market produces and sells 80 units of output and has a marginal revenue of $8. What would be the firm's total revenue if it instead produced and sold 60 units of output?
A. $60 B. $80
C. $240 D. $480
E. $640

14. Hazy Days Farms sells wheat to a grain dealer. Because the market for wheat is generally considered to be competitive, Hazy Days Farm does not
A. have any fixed costs of production.
B. have any variable costs of production.
C. choose the quantity of wheat to produce.
D. set marginal revenue equal to marginal cost to maximize profit.
E. choose the price at which it sells its wheat.

15. If the firm’s marginal cost is equal to its marginal revenue at the firm’s existing level of production, then the firm should
A. maintain its current level of production to maximize profit.
B. advertise to find additional buyers.
C. decrease production to maximize profit.
D. increase production to maximize profit.
E. B and D, only

1. Use the data below to find the linear regression equation that best represents the given data and predict the revenue in 2013 (Copy data to Excel)

2. Then create Two new columns that represent the predication y =mx+b for each year and percent of growth for each year = (Revenue/Predication)*100

3. Use Excel to graph the linear model (x-axis years, y-axis revenue) and the linear equation of best fit.

1. Fill out the missing entry for prediction and percent of growth
2. Find the value of the linear correlation coefficient r.
3. Find the equation of the regression line, letting Number of years be the independent (x) variable.
4. Find the coefficient of determination.
5. Find the standard error of estimate s_e.
6. Report the result in APA format
7. Show work in Excel if possible

Refer to the table below, which lists the U.S. federal income tax rates for the different income brackets. If the highest point on the Laffer curve corresponds to a tax rate of 30%, then which of the following statements must be false?

A) Increasing tax rates across all income tax brackets will cause a greater impact on tax revenue per return for the first income bracket than the third bracket.

B) Decreasing tax rates across all income tax brackets will not necessarily lead to higher tax revenue per return for all income brackets.

C) Increasing tax rates for the first and second income brackets will lead to lower tax revenue from those income brackets.

D) Increasing tax rates across all income tax brackets will cause a greater negative impact on tax revenue per return for the fifth income bracket than the sixth bracket.

Romney's Marketing Company has the following adjusted trial balance at the end of the current year. No dividends were declared. However, 500 shares ($0.10 par value per share) issued at the end of the year for $3,000 are included below:

Prepare a statement of stockholders' equity in good form for the current year. Please show steps and reasoning! - Thank you!

Padres Co sells goods subject to a state sales tax of 8%. State law requires that the amount of sales tax collected during the month be remitted by the end of the following month. At the time of a sale, Padres Co credits the sales account for both the amount of sales revenue and sales tax. Sales tax, when paid, is then debited to the sales account. Accrual for sales tax payable is made only at December 31. Sales tax collected during April was $378,400; sales revenue for May was $4,240,000; the total amount credited to the sales account during June was $5,302,800. Total sales tax paid to the state during the months of April, May, and June was $1,107,200. Total sales revenue during January through March was $12,040,000

1) Determine the following amounts:
a) sales tax collected in June. 392,800
b) sales revenue reported for March. 4870,000
c) credits to the Sales account during April. 5108400
d) balance of the Sales account at June 30. 26,312,800

​Here are the correct answers, can you please tell me how they were computed.