I need number 3 completed and an explanation because I don't understand it...

EXERCISES AND PROBLEMS 1. Carry Yoki's Lounge consists of the following: Carry, the owner, believed that people would come to hear a band play Sunday evenings. During the remainder of the week, she believed her customers would watch sporting events on several television sets located throughout the lounge. Carry employed assistant servers, two cooks, one dishwasher, and a cleanup person. She had a bar, 15 bar stools, 4 tables, 40 chairs, 4 television sets, and a satellite dish. She had an oven, stove, grill, refrigerator, sinks, dishes, and glassware. Carry started this business with $50,000 of her own money, and she borrowed $150,000 from the bank. From this description, list each of the scarce resources that are used in Carry Yoki's Lounge. 2. Joe Fixit has an Friday, Saturday, and on two bartenders, three servers, two appliance-repair business. He has more business than he can handle and wants to hire another repair person. Joe estimates that three appliances can be repaired each hour by a qualified person. Joe bills out labor at $45 per hour, but he stipulates that the minimum charge for appliance-repair estimates is $30 plus parts. What is the marginal revee product of a qualified repair person? What is the maximum hourly wage that he would pay an 3. Sam Smith is currently employed $65,000 per year plus benefits that are employee? as a mechanical engineer and is paid equal to 30 percent of his salary. begin a consulting firm and decides to leave his current Sam wants to After his first year in business, Sam's accountant informs him that he has made $45,000 with his consulting business. Sam also notices that he paid $6,000 for a health insurance policy, which was his total benefit during his first year. What was Sam's opportunity cost? 4. Sara Lee just graduated from college with a degree in accounting. She had five job offers: Bean Counters CPA, $35,000; Assets R Us, $27,000; The Debit Store, $30,000; J & J's CPAS, $33,000; and The Double Entry Shop, $40,000. What was her opportunity cost if she accepted the job with The Double Entry Shop? 5. Sam Club earned $50,000 and paid earned $60,000 and paid taxes of $12,000. If these taxes were same government agency, is the tax on income progressive, regressive, proportional? How did you reach this conclusion? 6. You read an article in this morning's paper that states that inflation is accel- erating and will reach 6 percent this year. If the Fed believes this statement and has set a goal of 3 percent inflation, what will it likely do at the next meeting of the Federal Open Market Committee? 7. A friend came into your office and said that his bank was out to kill local business. You asked him what he meant by this remark, and he said that ne read an article that said his bank had just loaned $10 million to a major automobile manufacturer at a rate of 3 percent, which is less than prime. Dut your friend just borrowed $50,000 from the same bank, which charged job. taxes of $10,000. Samantha Heart paid to the or him prime plus 4 percent, or 7.5 percent. Your friend has been in business for two years, and last year he had a loss of $2,000. How can you explain this difference in interest rates to your friend