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On the other hand, Nimrod is just as capable a hunter as ever; it takes him an average of only 2 hours to catch a deer. His fishing has suffered in the same way Grok's has, so that it also will take him 4 hours to catch a fish. What is the opportunity cost to Nimrod of catching a deer? Answer fish per deer. Give the answer as a number. If the answer is a fraction, use decimals. For example, if you think the answer is "3/5" you must submit it in the form "0.6" or ".6" or "0.60000", etc...
The management of a local restaurant wants to determine the average monthly amount spent by households in restaurants. Some households in the target market do not spend anything at all, whereas other households spend as much as $300 per month. What s..
Suppose that for a firm that digs ditches for laying cable or pipeline, backhoes and backhoe operators are pure complements in production, being used on a one-for-one basis. Draw the isoquants (on a graph with backhoe, “K”, and backhoe operators, “E”..
In looking at market structures we often see that monopolies are sole providers of a good or service. In looking at utility companies, why are they typically awarded the ability to be monopoly from government?
Compute the present value of a perpetuity bond that pays a monthly cash flow of $1000 at an annual interest rate of 12 percent.
Your lectures in the first half of our course presented the 21st-century medical technologies that now drive healthcare (and drive healthcare costs) in America. Describe at least three examples of these technologies.
Assume that your current university is the only institution offering online MBA program. Assume also that there are clear advantages of online program over brick and mortar school - such as the flexibility. Which alternative would be better for your ..
Suppose that there are 1,000 firms in a perfectly competitive industry, each with a short-run total cost curve given by TC = 800 + 8Q + 0.1Q^2. What is the profit-maximizing output for each firm at a market price of $20? How much profit does each fir..
Find the Herfindahl index for an industry composed of (a) three firms- one with 70 percent of the market, and the other tow with 20 and 10 percent of the market
q. you read in a business magazine that computer firms are reaping high profits. assume that the computer market is
Economists oppose limiting economic growth possibilities because such limits would inevitably involve
q. recall that is the economy continues to be strong abc company may need to increase its production by about 50
The cyclical rate of unemployment can be negative, which implies that the business cycle sometimes produces too little unemployment. How can there be “too little” unemployment for the health of the economy? When the one million quit looking for jobs,..
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