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You decide to go tubing this weekend. It costs $50 for transportation, $50 for lodging, $40 for tubing lift tickets and you could have earned $200 as a waiter. What is the total cost of the tubing weekend?
The demand for illegal drugs is inelastic. Much of the expenditure on illegal drugs comes from crime. Assuming these statements to be correct, What will happen to the amount of crime?
If the demand elasticity for a product is -2, and a profit-maximizing company sells the product for $10, determine its marginal cost?
if demand for a product is inelastic with respect to price this means that people are responsive to the price changes
Describe the strengths and weaknesses that you see in these economies based on these variables. Write 1 to 3 paragraphs of analysis total (100 to 300 words). What conclusions can you draw from your analysis? Write a minimum of 3 paragraphs (300 words..
Draw the demand curve for the bridge crossings. How many people would cross the bridge when there were no toll? What is the loss of consumer surplus associated with charge of toll of $4.00
Show such data graphically. Upon what specific assumptions is this production possibilities curve based? If the economy is at point C, what is the cost of one more automobile? Of one more forklift? Describe how the production possibi..
What is the magnitude and direction of spending
Assume a country that basically consumes 100 pairs of shoes per hour, all of which are imported. The price of shoes is $40 per pair before a ban on importing them is imposed.
Classical macroeconomics theory concludes that ultimately Fiscal policy generates only quantity effects, erratic investment causes long business cycles or else.
Prepare an essay regarding the concept of maximization and the assumptions associated with the behavior of economic man. Prepare a two page (double-spaced) essay. Cite references to material that you use in preparing the essay.
Determine which of following independent projects should be selected for investment if $325,000 is available and the MARR is 10 percent per year
Illustrate what are the benefits and drawbacks of dynamic pricing for that particular company.
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