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An energy manager expects a need for a boiler that costs $150,000 in about seven years. How much money should the manager save each year to have enough money for the purchase in seven years time if the interest rate is (a) 10% and (b) 3%.
q.define inflation. assume that you live in a simple economy in which only three goods are produced and traded fish
Why is the price elasticity of demand a relative measure? That is, why is elasticity measured in percentage terms rather than absolute terms?
Suppose the firms in a monopolistically competitive market are earning positive economic profits. What will happen to move the market to its long-run equilibrium?
How much of Nm and Nw can you advise to use, how much M and W will be produced from the levels of nitrogen in (a) and determine the value marginal products of the two enterprises.
show the impact of the expeted future in gasoline prices on the current demand for gasoline by shifting the demand curve on a graph.
The manager of Big Oil Company in Mandeville tells investors that at the end of 2006 they had gasoline in inventory worth $446. In 2007, Big Oil produced gasoline worth $353 and sold gasoline worth $217. How much did Big Oil add to Mandeville's GDP i..
Suppose that the manager of a paint supply store wanted to estimate the correct amount of paint contained in one-gallon cans purchased from a nationally known manufacturer. It is known from the manufacturer’s specifications that the standard deviatio..
1. Define supply as an economist would. 2. List and explain three (3) non-price factors that will shift the supply curve.
Suppose that you close down your coffee shop and sell your coffee maker for $500. If you originally bought the coffee maker for $4,000 and it lost $1,000 because of depreciation (i.e., age and use), the sunk cost of the coffee maker is:
Define “intra-industry trade” and indicate several reasons why such trade can take place in any given product category. Then indicate the characteristics of a country that might lead you to expect that the country would have a substantial amount of i..
How do you apply governmental intervention into game theory and its applicability to market behavior? Is governmental intervention predictable and probable?
For a company to convince consumers to use their products repeatedly, they must:
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