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Your accountant tell you that it cost $400 to set up an immunization program at a preschool and immunize one child against polio. It will cost $460 more to immunize 20 more children. What is the cost per child for the first child? What is the cost per child for these additional 20 children? What
Is the average cost per child? What economic concepts do these calculations illustrate with regard to cost?
Intellectual property refers to the rights of intangible property (IP) such as copyright, trademark, patents, and trade secrets. Explain the rights and responsibilities a company has in protecting its IP and the employees' responsibilities in protect..
The Law of Supply suggests that the price-elasticity of supply is: If a 10 percent increase in the price of one good results in no change in the quantity demanded of another good, then it can be concluded that the two goods are: Marginal utility is t..
Consider the types of non-tariff trade barriers and determine which has the most detrimental effect on the U.S. economy from the standpoint of the domestic consumer. Explain your rationale and support it with specific examples.
A machine was purchased two years ago for $50,000 and had a depreciable life of five years and a salvage of $0. The owner has been offered to sell the machine for $25,000. Using the following depreciation methods (SL, SOYD, DDB, and MACRS), determine..
Assume that the 12% rate used in problem 2 is a constant dollar rate (i’). Now discount your end of year cash flows from problem 10 by inflation (f=4%) and re-compute your IRR’ and NPW’. What is the market interest rate (i)______________ IRR’________..
Has war always been a propulsive force for economics? How about World War I? How about winners versus losers? How about England, which was on the winning side of World War II? If post-war demand was so important in getting the boom going, why isn’t t..
A construction site uses two types of workers – skilled (S) and unskilled (U). They produce feet of new pavement (Q) per day according to the production function Q = 100S -5S2 + 50U – 5U2 Skilled workers are paid $200 per day, while unskilled workers..
In a market with an upward sloping supply curve and a downward sloping demand curve, a price floor A. Creates deadweight loss B. transfers some consumer surplus to producers C. Transfers some consumer surplus to consumers Choose all that apply ?
Explain why it is not possible for one agent to have a comparative advantage in all goods, a worked example with calculated values would be useful.
Loan amortization Jan sold her house on December 31 and took a $30,000 mortgage as part of the payment. The 10-year mortgage has a 10% nominal interest rate, but it calls for semiannual payments beginning next June 30. What is the dollar amount of ea..
Select the scenarios that result in lower prices if they were to occur in isolation? Consumers can make costly mistakes when not enough information is available. Which of the following represents a market solution to obtaining costly information?
A production process exhibits economies of scale if:
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