Ana currently works for a law firm and she makes an annual s…

Ana currently works for a law firm and she makes an annual salary of $125,000. She wants to open her own legal practice and expects to earn $200,000 per year. In order to do so, she’ll need to hire a clerk who will cost $35,000/year in salary. She also needs to rent an office, which will cost $50,000/ year. Based on this information, answer the following: Calculate Ana’s accounting profit (show your work!). Calculate Ana’s economic profit or loss (show your worl!)

Market Share by Firm Firm  Market Share GM 19% For…

Market Share by Firm Firm  Market Share GM 19% Ford  17% Toyota 14% Chrysler 11% Honda 10% Nissan  7% Hyundai 5% Kia 4% Subaru 3% Volkswagen 3% Using the table above, calculate:  The four-firm concentration ratio for the U.S. auto market (show your work). Based on your answer on part (a), is this a concentrated market? Justify your answer! Calculate the Herfindal-Hirschman Index for the U.S. auto market (show your work).

Firm Output, Price, Revenue, Costs, and Profit/Loss Q P…

Firm Output, Price, Revenue, Costs, and Profit/Loss Q P TR MR TC MC Profit or Loss 0 $10 $100 5 $10 120 15 $10 140 23 $10 160 27 $10 180 29 $10 200 30 $10 220 The table above shows the short run production for a firm. Complete the table (remember to show your work for at least one row of Q) and answer the following: What is the profit maximizing level of output? Justify your answer. What type of market structure does this firm belongs to? Justify your answer. NOTE: This is a file upload question. Work your answer on an excel file, or write down your solution in a piece of paper, take a picture and upload the file.

Please complete the Practice Lab Test using Honorlock. Note…

Please complete the Practice Lab Test using Honorlock. Note that no notes or external materials are permitted during the test. Be sure to thoroughly review your lab handouts before attempting the practice test. You can earn up to 5 extra credit points for completing the practice test, and you are allowed two attempts. The questions in the practice test will be similar to those that will appear on Lab Test I, scheduled for Tuesday, October 22, 2024.