Question
If you were a taxi driver, the daily revenue and costs are as the following: Revenue: $240 Variable costs (gas, your labor...): $180 Mortgage payment
If you were a taxi driver, the daily revenue and costs are as the following:
- Revenue: $240
- Variable costs (gas, your labor...): $180
- Mortgage payment for car: $50
- License Fee: $40
For profit-maximization, will you operate your taxi business today? What is the minimum daily revenue to keep the operation in the short run? What is the minimum daily revenue to keep the operation in the long run? Please show the calculation.
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Managing in a Global Economy Demystifying International Macroeconomics
Authors: John E. Marthinsen
2nd edition
128505542X, 978-1305176157, 1305176154, 978-1285055428
