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Suppose a gardener produces both tomatoes and squash in her garden. If the opportunity cost of one bushel of squash is 2/5 of a bushel of tomatoes, then the opportunity cost of 1 bushel of tomatoes is:
a. 2/5 bushel of squash
b. 5/2 bushel of squash
c. 2 bushels of squash
d. 5 bushels of squash
Smallville is suffering annual losses of taxable properties and property values of 1% each. Even so, Smallville must maintain its tax collections at a constant value of $3.2 million to maintain services. What is the required rate of increase in the t..
To introduce GNP and GDP, and other concepts of the National Income accounts, and to show how they help us understand the growth of the U.S. economy over the past century.
What factors underlie whether specialization in production will be partial or complete on an international basis.
A street vendor reduces the price of gelato from $3.50 to $2.75, the number of gelatos sold per day rises from 600 to 750. What is the price elasticity of demand for gelato?
Be able to examine critically the health of the economy as a whole through the analysis of major economic variables and advise on likely policy alternatives
qx 100 - 0.4pxqx 40 0.2pxa. at what price level would demand for good x equal zero?b. at what price level would
Machine A has a service life of 4 years and Machine B has a service life of 3 years. If the required service period is 6 years and either machine can be repurchased in the future for the same price, what is your analysis period?. If the required serv..
What is the marginal revenue product of hiring one low-skilled worker to clear woodland for one month.
Elucidate the capital budgeting process. Comment on the key elements used to gauge capital projects. Evaluate capital investment decisions by using time-value-of-money yardsticks
Illustrate what is the minimum number of words per minute a student would have to read in order to get the award
BUS499(2011A) Final Exam: - Critically argue whether GDP is a good measure of economic well-being. You are required bring examples and academic references to support your answer.
Find the optimal capital and labor inputs given the production function f (k, l) = ak + bl and that the output price is given by p, the rental price of capital is r and w is the wage.
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