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You can either spend spring break working at home in Alabama for $200 per day for 5-days, or you can spend the week in Costa Rica where travel expenses will total $700 (food, hotel, and a plane ticket.) What is the opportunity cost of the trip to Costa Rica? Explain how you determined your answer.
List three characteristics of an economists, a scientist and thee characteristics of an economist as a policy adviser.
Suppose your employer sends you on a reconnaissance mission to Roswell, New Mexico. Your CEO wants to relocate company's customer service operation to Roswell,
Suppose if the Federal Reserve were to sell bonds, what would likely happen to money supply and interest rates? Explain it carefully.
Dell Computer Corporation, the world's biggest personal computer maker, is keenly aware of everything its rival PC manufacturers decide to do.
Assume that, prior to other company's entering the market, the maker of a new smartphone earns $100 million per year. By reducing its price by 50%,
Use the concepts of economies and diseconomies of scale to describe the shape the companies long run ATC curve. Determine the concept of minimum efficient scale?
Today's Friday night, and you are just about to leave your room to attend a party. However, a copy of New York Times catches your eye.
"A characteristic of oligopolistic market is that, once the general price level is established it tends to remain fixed for an extended period of time." Discuss the economic rationale underlying this phenomenon.
Discuss and explain the individual contributions that could be made through a cross-functional team to the following list of activities.
The company Three, SRL, sells three different products and sets the sales value for every product at 1.5 of their respective variable costs.
Explain whether the firm will make economic profit, In the short run and In the long run.
Assume the external marginal cost of pollution is MCext=5Q and internal marginal cost is MCint=10Q. Further, suppose the inverse demand for the product, Q, is given by P = 90-Q.
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