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Define the opportunity cost of getting your degree by analyzing what steps and economic factors a potential student must make when choosing to pursue an education. Given your answer, is getting a formal college education worth your opportunity costs? Why?
The mayor considers engaging in direct quantity regulation (also called "command- and-control") and declares that each firm must engage in 42.5 units of pollution abate- ment. If the plants are controlled by the same firm, would it be socially optima..
Suppose the government imposes new regulations that force tire manufacturers to adopt cleaner production methods that raise the production cost by $10 per tire. WILL THE NEW REGULATIONS RAISE THE PRICE OF TIRES CAREFULLY EXPLAIN WHY OR WHY NOT.
If every $1,000 increase in the real price of homes adds 5 cents to annual consumer spending (the "wealth effect"), by how much did consumption decline when home prices fell by $2 trillion in 2006-8
What is the probability that Medco Construction will be in violation of their construction contract and what is the probability that they will not be in violation?
Harriet enjoys watching both American Idol and Desperate Housewives on television. Her preferences correspond to the utility function U(A,D) = 2A + 4vD, where A stands for the number of hours she watches American Idol and D
a construction firm needs a new small loader. it can be leased from the dealer for 3 years for $5500 per year including all maintenance, OR it can be purchased for $20,000. The firm expects the loader to have a salvage value of $7,000 after 7 year..
design two packages for the second-degree price discrimination case so that the first package has quantity 8 for the high demand and the second one has quantity 6 for the lower demand such that the low demand group has consumer surplus at least $5..
A movie producer has to decide whether to bid for the film rights of a modestly successful novel. If he bids, he believes there is a 90% chance that he will be successful in obtaining the rights. If the bid is unsuccessful he will have to pay lega..
Heat Tamers, Inc., of Bend, Oregon produces special heat-resistant boots used primarily by firefighters, smoke-jumpers and steelworkers. It is contemplating an expansion into the heat resistant leather market charging a price of $150 per pair of b..
With the per-unit prices of broccoli (B) and pork rinds (R) equal to $2 and $1 respectively, a consumer George, with an income of $1,000 purchases 400R and 300B. At that point, the consumer's MRSBR = 2R/1B.
the industry demand function for bulk plastics is represented by the following equation: P=800 - 20Q where Q represents millions of pounds of plastic. the total cost function for the industry, exclusive of a required return on invested capital, is..
For each of the following utility functions, find the marginal utilities (MUx and MUy) and the marginal rate of substitutional between x and y (MRSxy) and explain whether MRSxy is diminishing or not.
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