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How do costs play into your everyday life? For example, why might it be cheaper to drive on a toll-road vs. a free-access interstate? Also, can you identify situations where you may fall victim to the sunk cost fallacy (we all do)?
Suppose your product is Wendy's hamburgers. First "draw" the demand and suppy curve and see how the equilibrium price and quantity is determeined.
What are the potential consequences of a country having a large overall national or public debt? If you were in the position to implement a solution for the country's long-term debt, what would it be and why?
Tanya operates a home business importing sweaters from Peru and sells them from her home. She collects $400,000 in revenue a year, and spends $200,000 on the sweaters and shipping costs, as well as $25,000 on advertising, accounting services and u..
Choose any 2-of the 4-basic strategies used to preserve security and identify and explain what assumptions are created about the opponent based each of the two strategies that you select.
How much can he withdraw at the end of each month to have the fund last 20 years? How many years will the fund last if he withdraws $100,000 up front for a vacation condominium and then withdraws $2,000 at the end of each month.
Mathew's utility function implies that the marginal utility of apples is 0.5vX/Y and the marginal utility of hotdogs is 0.5vY/X . How many apples and hotdogs will Mathew buy?
Calculate the implied arc income elasticity of demand. I =? Given a price elasticity coefficient of -2.5, to what level would price have to be lowered to maintain there sales at a level of 28 million square yards. New Price =?
When negative or positive externalities exist economists say that market has unsuccessful to make the right amount of the good at the right price. What do economists mean through this?
What is the marginal revenue for hiring a worker for the 1 st hour? For the 2 nd hour and determine how many hours Eva should extend her bakery's hours of operations.
For each of the following utility functions, draw the three indierence curves that correspond to the three stated utility levels, labeling each curve with the corresponding utility level. Label any intercepts or inks in the line to fully identify ..
Which of the following is an example of a demand shock? a) Hurricane Harry knocks out oil drilling platforms in the Gulf of Mexico. b) Consumers become worried about job loss and buy fewer goods and services than expected.
Draw up the payoffmatrix for game and do PA and LA have dominant strategies? Explain your answer.iii. What is the Nash equilibrium? Explain your answer.
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