The basic reasons to set up a small business.

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Answer 1

Question

Chapter 7, Problem 1LO

Summary Introduction

To discuss: The basic reasons to set up a small business.

Expert Solution & Answer

Explanation of Solution

The rate of entrepreneurship plays a positive and a powerful role in the economy of Country U. The rate of new business creation in the year 2014 indicates the highest rise in the past two decades, however, the beginning activity is still below the historic rules. The basic reasons to establish a small business is as follows:

To attain a huge financial success
To be independent
To be flexible
To face the challenge
To survive

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A movie theater is showing two different movies: a Hollywood blockbuster (with 100 customers willing to pay $10 for a ticket, and 100 willing to pay $8) and an independent film that attracts 50 film buffs, willing to pay $20 each. Marginal costs are zero and neither movie can fill theater capacity. What is the theater's maximum profit if it cannot price discriminate (it must charge the same price for both movies) and if it can price discriminate (it may charge different prices for different movies)? a. $2,000; $2,600 b. $1,500; $2,100 c. $1,500; $2,000

Required information Skip to question [The following information applies to the questions displayed below.]Joe and Jessie are married and have one dependent child, Lizzie. Lizzie is currently in college at State University. Joe works as a design engineer for a manufacturing firm while Jessie runs a craft business from their home. Jessie’s craft business consists of making craft items for sale at craft shows that are held periodically at various locations. Jessie spends considerable time and effort on her craft business, and it has been consistently profitable over the years. Joe and Jessie own a home and pay interest on their home loan (balance of $220,000) and a personal loan to pay for Lizzie’s college expenses (balance of $35,000). Neither Joe nor Jessie is blind or over age 65, and they plan to file as married-joint. Assume that the employer portion of the self-employment tax on Jessie’s income is $831. Joe and Jessie have summarized the income and expenses they expect to report…

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Answer 2

Question

Chapter 7, Problem 1LO

Summary Introduction

To discuss: The basic reasons to set up a small business.

Expert Solution & Answer

Explanation of Solution

The rate of entrepreneurship plays a positive and a powerful role in the economy of Country U. The rate of new business creation in the year 2014 indicates the highest rise in the past two decades, however, the beginning activity is still below the historic rules. The basic reasons to establish a small business is as follows:

To attain a huge financial success
To be independent
To be flexible
To face the challenge
To survive

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Answer 3

Question

Chapter 7, Problem 1LO

Summary Introduction

To discuss: The basic reasons to set up a small business.

Expert Solution & Answer

Explanation of Solution

The rate of entrepreneurship plays a positive and a powerful role in the economy of Country U. The rate of new business creation in the year 2014 indicates the highest rise in the past two decades, however, the beginning activity is still below the historic rules. The basic reasons to establish a small business is as follows:

To attain a huge financial success
To be independent
To be flexible
To face the challenge
To survive

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 7, Problem 1LO

Summary Introduction

To discuss: The basic reasons to set up a small business.

Expert Solution & Answer

Explanation of Solution

The rate of entrepreneurship plays a positive and a powerful role in the economy of Country U. The rate of new business creation in the year 2014 indicates the highest rise in the past two decades, however, the beginning activity is still below the historic rules. The basic reasons to establish a small business is as follows:

To attain a huge financial success
To be independent
To be flexible
To face the challenge
To survive

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 7, Problem 1LO

Summary Introduction

To discuss: The basic reasons to set up a small business.

Expert Solution & Answer

Explanation of Solution

The rate of entrepreneurship plays a positive and a powerful role in the economy of Country U. The rate of new business creation in the year 2014 indicates the highest rise in the past two decades, however, the beginning activity is still below the historic rules. The basic reasons to establish a small business is as follows:

To attain a huge financial success
To be independent
To be flexible
To face the challenge
To survive

Answer 6

Chapter 7, Problem 1LO

Summary Introduction

To discuss: The basic reasons to set up a small business.

Expert Solution & Answer

Explanation of Solution

The rate of entrepreneurship plays a positive and a powerful role in the economy of Country U. The rate of new business creation in the year 2014 indicates the highest rise in the past two decades, however, the beginning activity is still below the historic rules. The basic reasons to establish a small business is as follows:

To attain a huge financial success
To be independent
To be flexible
To face the challenge
To survive

Answer 7

Chapter 7, Problem 1LO

Summary Introduction

To discuss: The basic reasons to set up a small business.

Answer 8

Expert Solution & Answer

Explanation of Solution

The rate of entrepreneurship plays a positive and a powerful role in the economy of Country U. The rate of new business creation in the year 2014 indicates the highest rise in the past two decades, however, the beginning activity is still below the historic rules. The basic reasons to establish a small business is as follows:

To attain a huge financial success
To be independent
To be flexible
To face the challenge
To survive

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Ch. 7 - Prob. 1LO Ch. 7 - Prob. 2LO Ch. 7 - Prob. 3LO Ch. 7 - Prob. 4LO Ch. 7 - Prob. 5LO Ch. 7 - Prob. 6LO

The basic reasons to set up a small business.

To discuss: The basic reasons to set up a small business.

Explanation of Solution

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Chapter 7 Solutions