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As a result of your prowess in identifying how many rolls of toilet paper a typical American family keeps on hand, you win the opportunity to choose one of the following: $1,800 today, $8,000 in 11 years, or $26,000 in 27 years. Assuming that you can earn 16 percent on your money, which should you choose?
(A) If you are offered $8,000 in 11 years and you can ear 12% on your money, what is the present value of $8,000?
(B) If you are offered $26,000 in 27 years and you can earn 12 percent on your money, what is the present value of $26,000?
(C) Which offer should you choose?
The reason economists use the midpoint method to compute elasticity is that:
Suppose a consumer is at an optimum, consuming 6 hamburgers a week at a price of $1.50 each and 10 donuts a week at 50 cents a donut.
explain the difference among moving along a curve and shifting the curve. Assume a market is in equilibrium and the demand curve shift to the right, describe the market adjustment process in restoring equilibrium.
A petroleum engineer estimates that the present production of 400,000 barrels of oil during this year from a group of 10 wells will decrease at the rate of 15% per year for years 2 through 10. Oil is estimated to be worth $25 per barrel. If the inter..
The engineering team at Manuel’s Manufacturing, Inc., is planning to purchase an enterprise resource planning (ERP) system. The software and installation from Vendor A costs $380,000 initially and is expected to increase revenue $125,000 per year eve..
For the period 1980-2010, how did the rate of growth of per capita GDP in China compare to that in the US? How did the rate of growth of technological improvement (broadly conceived) in the two countries compare? Give some examples of changes that ca..
Application Coal mining believes that it can increase labour productivity and, therefore, net revenue by reducing air pollution in its mines. Explain how much pollution reduction should Appalachian Coal Mining Undertake.
If extension of provisions is made to final goods but not to intermediate goods, what would this do to effective rate of protection (ERP) for country provided by its tariff schedule.
Distinguish between the resources market and the product market in the circular flow model.
Consumers buy from the lowest price firm, and the highest price firm sells nothing. If the firms pick the same price, they split the market demand equally.
Offer one good or service that you think would be considered highly price elastic ,one that you think is highly inelastic and Elucidate why.
Elucidate problem which is posed by any comparison over time of the market values of various total outputs? How is this problem resolved.
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