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**Should we give the class or not? (Microeconomics) ?

1.     Expound on this problem. What is the appropriate decision to make about offering the class.  Distinguish between the short run and the long run. Ascertain that in your answer you include the concepts of opportunity cost, optimality, time period of production, risk and return as well as marginal versus average /total analysis. Be thorough.

BE SURE TO INCLUDE ALL THOSE  ELEMENTS OF ANALYSIS BOLDED

The Problem :

**Should we give the class or not? (Microeconomics) ? 

a.     Revenues

$1,500*12=$18,000 ( Tuition+student)

b.     Expenses

1.Depreciation (Owning the place without renting it)

2.Rent the place

3. energy usage $1.000

4. paper and supplements $500

5. professor’s  salary $7.500

Total is $20,000