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Define explicit costs and implicit cost. Give two examples of each. What is included in an economic profit? what are some explicit an implicit costs of attending college? what about owning a business?
Would a lump-sum profits tax affect the profit-maximizing quantity of output? How about a proportional tax on profits? How about a tax assessed on each unit of output? How about a tax on input xi?
If MC was $10 per unit, how much would the firm chose to produce? If FC was $200, how much does the firm earn in profits?
When you paraphrase information you found from an outside source,
Calculate the present worth value of 9 annual payments of $800 made at the end of each year knowing that the interest rate is 8%
Which of the following is a method for the Federal Reserve to control the supply of money? Open-market operations refer to the Federal Reserve: What determines the weights for calculating the Consumer Price Index?
Opportunity cost refers to : value all alternatives forgone as result of making particular choice. value of next best alternative occurring as result of making particular choice.
Interior Department recently announced that it will increase the entrance fees at Yellowstone National Park in order to increase park revenues.
If CPI was somehow able to monopolize the market what would happen to the price of toothpaste, would it rise or fall? What would happen to the profits CPI makes via their toothpaste division?
Sergei is a computer programmer with a utility function equal to U=Y+120L-L . He contracts with Uber that allows him to set his own work hours; they pay him $50/hour. He has allocated himself a work-hour time budget of a maximum of 250 hours per mont..
All incomes received in producing the value of the nation's output are equivalent to the total spending made on the final goods and services.
Why was it more common for railroads and timber companies to provide health insurance in the early 1900s then for textile mills or accounting firms?
Who benefits from a tariff or quota. Who loses. Illustrate what are positives and negatives of protectionist trade policies on federal government's part. Which policy is best right now.
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