Suppose the city of austin, tx chooses to regulate the number of street vendors operating near the university of texas by requiring each vendor to own a permit in order to operate. the city gives free permits to all existing vendors and announces that no new permits will ever be issued. prior to regulation, the costs (including implicit costs) of operating were $85,000 and revenues were $150,000. the city ordinance allows the permits to be bought and sold without restriction. the permits have no expiration date. the interest rate is 10 percent. after regulation, existing street vendors earn an

a. accounting profit of zero.

b. economic profit of $130,000.

c. economic rent of $65,000

d. economic loss.

Conor is 21 years old and just started working after college. he has opened a retirement account that pays 2.5% interest compounded monthly. he plans on making monthly deposits of $200. how much will he have in the account when he reaches 591 years of age?

In year 1, the bennetts' 25-year-old daughter, jane, is a full-time student at an out-of-state university but she plans to return home after the school year ends. in previous years, jane has never worked and her parents have always been able to claim her as a dependent. in year 1, a kind neighbor offers to pay for all of jane's educational and living expenses. which of the following statements is most accurate regarding whether jane's parents would be allowed to claim an exemption for jane in year 1 assuming the neighbor pays for all of jane's support? a.no, jane must include her neighbor's gift as income and thus fails the gross income test for a qualifying relative.b.yes, because she is a full-time student and does not provide more than half of her own support, jane is considered her parent's qualifying child.c.no, jane is too old to be considered a qualifying child and fails the support test of a qualifying relative.d.yes, because she is a student, her absence is considered as "temporary." consequently she meets the residence test and is a considered a qualifying child of the bennetts.

If a product goes up in price, and the demand for it drops, that product's demand is a. elastic b. inelastic c. stable d. fixed select the best answer from the choices provided