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For each of the following situations, identify the full cost (opportunity cost) involved:
a. A worker earning an hourly wage of $8.50 decides to cut back to part-time to attend Houston Community College.
b. Sue decides to drive to Los Angeles from San Francisco to visit her son, who attends UCLA.
c. Tom decides to go to a wild fraternity party and stays out all night before his physics exam.
d. Annie spends $200 on a new dress.
e. The Confab Company spends $1 million to build a new branch plant that will probably be in operation for at least 10 years.
f. Alex’s father owns a small grocery store in town. Alex works 40 hours a week in the store but receives no compensation.
What will you put on sale in your district during the Valentine's Day week? You must provide your reasons and
What happens to consumer surplus and what happens to total surplus assuming the government sells the consumer
JG Asset Services is recommending that you invest $1,500 in a 5-year certificate of deposit (CD) that pays 3.5% interest, compounded annually. How much will you have when the CD matures?
Describe the effect of increase from 1998-1999. How would the increase in demand affect the price? How would the price effect depend upon the price elasticity of supply? Please describe how. (Explain the illustration instead of actually drawing it)
Starting with the estimated demand function for Chevrolets given in Problem 2, assume that the average value of the independent variables changes to N=225 million, I =$12,000, P= $10,000 P= 100 cents, A=$250,000 and P=O
In the late 1990s, several East Asian economies had their currencies pegged to the U. S. dollar. Suppose there is an economic boom in the United States that leads to an increase in U. S. interest rates.
A recent market survey indicates that 84% of male teens aged 14-18 "possess a strong desire" to own a new model of off-road utility vehicle. The vehicle has a price-tag of approximately $29,000.
Assume that you get a summer intern job and a recession start while you are there. Prepare a memo to your boss, who is a member of Congress,
Airway Express has an evening flight from Los Angeles to New York with an average of 80 passengers and a return flight the next afternoon with an average of 50 passengers.
Some observers say that changes in the past few years have eroded the monopoly power of local cable tv companies, even if no other cable firms have entered their markets. What are these changes? Do these monopoly firms still have monopoly powers
Take a small company to be established and construct a cost revenue analysis to see how feasible the project could be? Divide your cost of production into fixed and variable cost. Calculate the price that you think will make the business break eve..
Find the expected value of X. Show your work and find the variance of X. Show your work and calculate the cumulative distribution function
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