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A doctor earns $250,000 per year, while a professor earns $40,000. They play tennis against each other each Saturday morning, each giving up a morning of relaxing, reading the paper, and playing with their children. They could each decide to work a few extra hours on Saturday and earn more income. But they choose to play tennis or to relax around the house. Are their opportunity costs of playing tennis different?
Describe how the market for corn would be influenced if ethanol, a corn derivative was used to fuel cars in US. How would market be influenced if a new technology caused corn farming to be more efficient?
The production possibilities curve represents the set of all and the opportunity cost of a glove in Panama - an airplane manufacturing consortium in Europe, which receives large subsidies from several European countries.
What is the difference between a publicly held company and a privately held company? How can the two types of companies be identified?
Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..
If the price in this market were $160, explain why this would not be the market equilibrium price and find the equilibrium price and equilibrium quantity exchanged for this market.
What happens to the price of bonds when the Fed sells bonds? What happens to the interest rate? What happens to the money supply?
Why do you think it is important for managers to understand the mechanics of supply and demand both in the short run and in the long run?
Write out the formulas for the bias, variance and mean squared error of β 1 . How do the bias, variance and mean squared error depend on the values of µ , σ 2 and n ?
Assume that the price of silk ties in a perfectly competitive market is $19 and that the typical firm confronts the following costs: Quantity (ties per day) 0 1 2 3 4 5 6 7 8 9 10, Total cost $10 $17 $26 $37 $50 $65 $82 $101 $122 $145 $170
Complete the constraints for a 2-year crop rotation between oats and barley in the homestead paddock and complete the constraint for turnip and millet production in the South Hill paddock
What impact would you expect each of the following events to have on business cycles? Label each as a demand-side or supply-side shock. What economic policy changes might you expect in response to each of these events?
Express output per worker (y=Y/L) as a function of capital per worker and the natural rate of unemployment and write an equation that describes the steady state of this economy.
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