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The concept of opportunity cost is an important one in economics. It is essential to understand the distinction between explicit and implicit costs. For this assignment, consider an event at work that you company is considering doing, such as a new product, adding more employees, etc. their opportunity cost of going to school is. Include all implicit and explicit costs of this venture. In addition, analyze the value of this project and how the costs will be short run and the long run.
The previous director of an insurance plan required no co-pay. As the new director, your first reform is to implement a co-pay. Assume that each doctor visit costs the insurance plan $40, and use the following demand curve for your enrollees: P = 50-..
How do these things affect the U.S market of foreign-currency exchange and on net capital outflow (NCO): A tax reform that imposes higher capital gains tax to Americans involved in offshore banking?
Melissa engages in an activity that influences the well-being of a bystander. In order for Melissa's activity to give rise to an externality, it must be the case that
A detriment to economic growth: According to the principle of comparative advantage, trade between two countries will benefit:
For this milestone, submit a draft of your analysis as outlined in the Final Project Guidelines and Rubric document. Create a draft of the graphs, summaries, and tables developed in the Analysis critical element. You will be evaluated on your correct..
How do the five competitive forces in Porter’s model affect the average profitability of the industry? For example, in what way might weak forces increase industry profits, and in what way do strong forces reduce industry profits?
Think about all the economic data that are reported in the news every day. The information from all of them may be relevant, but does a policymaker really need to know any more about the state of the economy than the level of output and the inflation..
Suppose an individual buyer values a pound of butter at $10. If the market price of butter is $8, what is the consumer surplus for this item?
A mechanical engineer is considering two robots for improving materials handling in the production of rigid shaft couplings that mate dissimilar drive components. Robot X has a first cost of $84,000, an annual maintenance and operation (M&O) cost of ..
Suppose you are considering the purchase of an established business that has the expected profit stream noted below. If want a 20% return on you investment, what is the maximum amount you should pay for the property?
The Inflation Stealth Tax or Deflation tax Cut Inflation is a tax on currency. Prices in the UK have risen by 28.2 % since 2005 (measured by the consumer price index) A £ 20 note that fell down the back of a sofa 10 years ago would now be worth £ 15...
Are markets always in equilibrium?
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