EBK ECONOMICS
EBK ECONOMICS
13th Edition
ISBN: 8220106799642
Author: PARKIN
Publisher: PEARSON
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Chapter 14, Problem 21APA

Women’s Golf Clubs

A quarter of golfers today are women and the number keeps growing. And golf club manufacturers are paying attention and developing women’s clubs. Callaway and 14 other firms compete in this market.

Source: Thoughtco.com, February 20, 2017

21. a. How are golf club manufacturers attempting to maintain economic profit?

b. Draw a graph to illustrate Callaway’s cost and revenue curves in the market for women’s golf clubs.

c. Show on your graph in part (b) Callaway’s short-run economic profit.

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Frederick Jones operates a sole proprietorship business in Trinidad and Tobago. His gross annual revenue in 2023 was $2,000,000. He wants to register for VAT, but he is unsure of what VAT entails, the requirements for registration and what he needs to do to ensure that he is fully compliant with VAT regulations. Make reference to the Vat Act of Trinidad and Tobago and explain to Mr. Jones what VAT entails, the requirements for registration and the requirements to be fully compliant with VAT regulations.
Can you show me the answers for parts a and b? Thanks.
What are the answers for parts a and b? Thanks
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