Suppose Ernie gives up his job as a financial advisor for pets, for which he earned $30,000 per year, to open up a store selling spot remover to Dalmatians. He invested $10,000 of his savings, which had been earning 5 percent interest. This year's revenues in the new business were $50,000 and explicit costs were $10,000 . Calculate Ernie's economic profit

The fee schedule capable of contributing the most net revenue to a museum's budget depends on

A) the cost of constructing the museum. B) the cost of heating and lighting the museum. C) the cost of purchasing and maintaining the museum exhibits. D) the demand to view the museum's collection. E) whether the museum is publicly or privately owned.

In 1991, Argentina decided to peg its currency (the Argentinean peso) to the U.S. dollar

To maintain the peg, Argentina had to purchase surplus pesos on the foreign exchange market, depleting its reserves of dollars to such an extent that it eventually had to abandon the peg. Show graphically what this implies about the peg relative to the equilibrium exchange rate in the market for the Argentinean peso.