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1. You plan a major adventure trip for the summer. You won?t be able to take your usual summer job that pays $6,000, and you won?t be able to live at home for free. The cost of your travel on the trip will be $3,000, film and videotape will cost you $200, and your food will cost $1,400. What is the opportunity cost of taking this trip?
2. The university has built a new parking garage. There is always an available parking spot, but it costs $1 per day. Before the new garage was built, it usually took 15 minutes of cruising to find a parking space. Compare the opportunity cost of parking in the new garage with that in the old parking lot. Which is less costly and by how much?
Suppose that most of the city's consumption of a good is supplied by production within the city, and that most local production is sold to local consumers. We can conclude that this city is a geographic antitrust market for the good in question.
Think that the following data for a simultaneous move game. If you advertise and your rival advertises, you each earn $5 million in profits.
The perfectly competitive company takes the equilibrium value set through the market and maximizes profit through manufacturing where price, which also equals marginal revenue, is equal to marginal cost.
The first acre can produce 1000 bushels of wheat, the second acre 900, the third 800, and so on. How much revenue will each acre generate? what are the TR and MR for each acre?
explain the points in the process where the vendor has an opportunity to add value, be sure to answer the following questions, how does value vary for a large purchase versus a smaller one, does adding value cost money
The Taxpayer Relief Act developed Roth IRA which permits you to make after tax retirement contributions of up to $2000 yearly and contributions are not tax deductible
Do workers of monopolies get paid more compared to employees who do the similar work in other industries that are not monopolies?
The highest quantity of lobsters demanded and what is the marginal net utility (consumer surplus) when the market price is $ 4.00 per lbs. why?
How would the US production possibilities curve be affected in this case: the AIDS epidemic becomes rampant in America claiming millions of lives.
A. What is market failure What are the major reasons that a free, unregulated market in medical care might not be optimal B. What assumptions of the perfectly competitive marketplace are violated in medical markets How does each affect equilibrium ..
6. What is the capitalized equivalent amount worth, at 8% annual interest compounded semiannually, for a present initial cost investment of 50,000 a series of semiannual positive disbursement of 5,000 that extent to infinity and in 12 years th..
Recently, Pfizer and Warner-Lambert agreed to a ninety billion dollar merger, thus creating one of the world's biggest pharmaceutical firms. Pharmaceutical firms tend to expend a greater percentage (%) of sales on R&D activities than other industries..
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