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Take a minute to think about the demand for college education and whether or not the costs of attending college (not just tuition, but also some of the opportunity costs associated with attendance) influences the number of students who attend college. Now tell me whether or not you think college education is elastic or inelastic with regard to the price, and back up your answer with an explanation as to why you believe what you do. There are no "right" or "wrong" answers to this, but I am interested in your thought process, and this will be graded solely on content.
AT LEAST two paragraphs please.
Explain how a price increase could be better for society than not raising the price of a product or service. Why does central planning not work efficiently?
Use Appendix A at the back of the text to show the compound annual rate of growth in earnings (n=4).
A certain waste water treatment unit process costs $50000 to purchase and install and will cost $500 per year to operate. Given an interest rate of 4.00 percent, what is the net present value of this scenario? Assume a 10 year design life. Limit answ..
Consider the model of team production in which total incomearrow-10x10.png is four times the total amount of effort supplied. there are two individuals on the team and each individuals on the team and each individual i has the utility function u dete..
During the construction of a highway bypass, earthmoving equipment costing $40,000 was purchased for use in transporting fill from the borrow pit. At the end of the 4 year project, the equipment will be sold for $20,000. The schedule for moving fill ..
For this problem, you will sketch the graph of the firm’s isoquant for Q = 10 units of output, and on the same graph sketch the firm’s isocost line associated with the total cost of producing Q = 10 units of output. To get this total cost, you must u..
A $1000 face value bond has a 6.85 percent semi-annual coupon and sells dor $980.00. What is the current yield? A 7 percent coupon bond has a face value of $1000 and pays interest annually. The current yield is 6.8 percent. What is the current price ..
Conduct research on the current state of Social Security. Your 5 page paper should address the following: Explain the concept of Social Security as originally envisioned by President Roosevelt. Evaluate the viability of Social Security within the nex..
Illustrate what ways do health care expenses affect economy. Illustrate what are economic advantages to government involvement in healthcare.
Calculate the over all MC for the 1st 10 units of output also Specify where each successive unit will be produced.
The success of the apple ipad leads more firms to begin producing tablet computers. In the six months following the japanese earthquake and tsunami in 2011, production of automobiles in japan declined by 20 percent.
A California grower has a 50-acre farm on which to plant strawberries also tomatoes. The farmer needs to know the number of acres of strawberries also tomatoes to plant to maximize profit.
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