John has an extra bedroom in his house that he occasionally rents out using the service airbnb. john charges $100 per night, and his room is occupied by a renter approximately 100 nights per year. he thinks that if he repaints the room the photos he posts on airbnb to draw customers will be more attractive, allowing him to charge $110 dollars per night and to rent the room for 120 nights per year. john's tax rate is 28%. what is the annual, afterdashtax, incremental revenue that john expects from his painting project?

Steele bicycle manufacturing company currently produces the handlebars used in manufacturing its bicycles, which are high-quality racing bikes with limited sales. steele produces and sells only 10,000 bikes each year. due to the low volume of activity, steele is unable to obtain the economies of scale that larger producers achieve. for example, steele could buy the handlebars for $31 each: they cost $34 each to make. the following is a detailed breakdown of current production costs: after seeing these figures, steele's president remarked that it would be foolish for the company to continue to produce the handlebars at $34 each when it can buy them for $31 each. calculate the total relevant cost. do you agree with the president's conclusion?

Minneapolis federal reserve bank economist edward prescott estimates the elasticity of the u.s. labor supply to be 3. given this elasticity, what would be the impact of funding the social security program with tax increases on the number of hours worked and on the amount of taxes collected to fund social security?

Suppose that a monopolistically competitive restaurant is currently serving 260 meals per day (the output where mr