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Suppose Natasha currently makes $60,000 per year working as

Paper help Economics Suppose Natasha currently makes $60,000 per year working as

Economics

Suppose Natasha currently makes $60,000 per year working as

Suppose Natasha currently makes $60,000 per year working as a manager at a cable TV company. She the… Show more Suppose Natasha currently makes $60,000 per year working as a manager at a cable TV company. She then develops two possible entrepreneurial business opportunities. In one, she will quit her job to start an organic soap company. In the other, she will try to develop an Internet-based competitor to the local cable company. For the soap-making opportunity, she anticipates annual revenue of $500,000 and costs for the necessary land, labor, and capital of $435,000 per year. For the Internet opportunity, she anticipates costs for land, labor, and capital of $3,200,000 per year as compared to revenues of $3,260,000 per year. a. Should she quit her current job to become an entrepreneur? a-) No, b-) Yes b. If she does quit her current job, which opportunity would she pursue? a-) Soap, b-) internet, c-) Neither Refer to the table given below. Production Alternatives Type of production A B C D E Automobiles 0 2 4 6 8 Forklifts 30 27 21 12 0 Suppose improvement occurs in the technology of producing forklifts but not in the technology of producing automobiles. Draw the new production possibilities curve. Now assume that a technological advance occurs in producing automobiles but not in producing forklifts. Draw the new production possibilities curve Now draw a production possibilities curve that reflects technological improvement in the production of both goods. • Show less

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