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Consider your decision whether to go skiing for the weekend. Suppose transportation, lift tickets, and accommodation for the weekend cost $300. Suppose also that restaurant food for the weekend will cost $75. Finally, suppose you have a weekend job that will have to miss if you go skiing, which pays you $120 (after tax) for the one weekend day that you work. What is the opportunity cost of going skiing? Do you need any other information before computing the opportunity cost?
Why is it desirable for ceiling prices to be accompanied by government rationing? And for price floors to be accompanied by programs that purchase surpluses, restrict output, or increase demand?
suppose you own a taxi company in new york city. assume further the taxi industry in nyc is described by a perfectly
What would you say to these stakeholders? Formulate your advice, drawing on course readings, other scholarly sources, and the concept of healthcare price elasticity.
A painting operation is performed by a production worker at a labor cost of $1.40 per unit. A robot spray-painting machine, costing $15000 would reduce the labor cost to $0.20 per unit. If the device would be valueless at the end of three years, what..
Comparative statics examine in economics is best illustrated as comparison of equilibrium points before and after changes in market have occurred.
Speculate on the fundamental manner in which government regulation could impact the shareholders' wealth and profitability
A farmer has 5,000 acres of land, 1,000 hours of labor, and 2,000 hours of tractor time to grow two crops: corn and wheat. He expects that he can earn $250 per acre for corn and $200 per acre for wheat.
calculate net value added at fcitems and in millions respectively.1 purchase of machinery to be used in production
With the advertising budget of $40,000 (use 40), calculate the elasticity of advertising using Q you obtained in (b)? Interpret the result. What would happen to a constant term in a new reduced demand equation as a result an increase in advertisin..
Discuss the functions and measures of money - Define banks and explain how they create money and Explain why the financial sector is so important to macroeconomic debates.
These multiple choice problems are relate to Economics. The riest problem is about lobbying and extension of patents are examples of inefficiency and the second problem is about marginal cost curve and average variable cost curve intersecting.
1.nbsp suppose that two goods are perfect complements. if the price of good 1 changes what part of the change in demand
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