Fifty residents of a college dorm all like espresso. An espresso machine costs $1,000. Each dorm resident is willing to pay up to $50 for the machine. However, the resident’s willingness to pay is their "private information." One resident, Eugene, decides to take up a collection. Assuming there is no way to make other residents contribute (and Eugene does not know what the residents’ willingness to pay is), is Eugene likely to raise the necessary $1,000? Why or why not? What could be done to improve his chances of success? [Hint: a simple argument can be made in the lines of the "non-excludability" nature of a public good. If one student pays for the coffee maker in the pantry, all will use it! Eugene can do better by ensuring this does not happen.

Captain john's yachts, inc., located in fort lauderdale, florida, rents three types of ocean-going boats: sailboats, cabin cruisers, and captain john's favorite, the luxury yachts. captain john advertises his boats with his famous "you rent"we pilot" slogan, which means that the company supplies the captain and crew for each rented boat. each rented boat has one captain, of course, but the crew sizes (deck hands, galley hands, etc.) differ. the crew requirements, in addition to a captain, are one for sailboats, two for cabin cruisers, and three for yachts. ten employees are captains, and an additional 18 employees fill the various crew positions. currently, captain john has rental requests for all his boats: four sailboats, eight cabin cruisers, and three luxury yachts. if captain john's daily profit contribution is $50 for sailboats, $70 for cruisers, and $100 for luxury yachts, how many boats of each type should he rent?

Wilson company paid $5,000 for a 4-month insurance premium in advance on november 1, with coverage beginning on that date. the balance in the prepaid insurance account before adjustment at the end of the year is $5,000, and no adjustments had been made previously. the adjusting entry required on december 31 is: (a) debit cash. $5,000: credit prepaid insurance. $5,000. (b) debit prepaid insurance. $2,500: credit insurance expense. $2500. (c) debit prepaid insurance. $1250: credit insurance expense. $1250. (d) debit insurance expense. $1250: credit prepaid insurance. $1250. (e) debit insurance expense. $2500: credit prepaid insurance. $2500.

Arecession is defined as a period in which