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A city engineer and economic development director of Buffalo are evaluating two sites for construction of a multipurpose sports arena. At the downtown site, the city already owns enough land for the arena. However, the land for construction of a parking garage will cost $1 million. The wet side site is 30 kilometers from downtown, but the land will be donated by a developer who knows that an arena at this site will increase the value of the remainder of his land holdings by many times. The downtown site will have extra construction costs of $10 million because of infrastructure relocations, the parking garage, and drainage improvements. However, because of its centralized location, there will be greater attendance at most of the events held there. This will result in more revenue to vendors and local merchants in the amount of $350,000 per year. Additionally, the average attendee will not have to travel as far, resulting in annual benefits of $400,000 per year. All other costs and revenues are expected to be the same at either site. If the city uses a discount rate of 8% per year, where should the arena be constructed using the incremental benefit-cost analysis? One of the two sites must be selected. (Hint: Assume an infinite life for the public project. No need to calculate the absolute B/C ratio, since one of the two sites must be selected.)
XYZ Co. manufactures bicycles. Demand for this year’s model is expected to occur at a constant annual rate of 7200 items. One bicycle costs $245. The holding cost is based on a 11% annual rate, and production setup costs are $340. Use the production ..
Keynes said it was the stock market crash of October, 1929 that was the trigger mechanism for the Great Contraction from 1929 to 1933. He believed that the crash caused expectations to become catastrophically pessimistic. Use the Keynesian Cross Mode..
The Newspaper reported that insurgents in Saudi Arabia had taken over a major oil refinery. What would you predict would happen to the average price and quantity exchanged in the market for gasoline in Saudi Arabia?
A change in which of the following is least likely to cause a shift of the consumption function?
Whether the U.S. Congress press a tariff raising the cost of Japanese compute. Illustrate what are four mutually exclusive states of the world that you should be concerned about
Use the supply and demand analysis, discuss the impact of worker shortage, which is nowadays widely observed in many Chinese cities, on prices and consumers’ living costs. Try to consider the effect of worker shortage on firm production and consumer ..
Find the following values using the equations and then a financial calculator. Compounding/discounting occurs annually.
Show the changes in the demand for tourism as income of a tourist grows when tourism is perceived to be, (a)normal good, (b)superior good, and(c) inferior good. Analyse the demand for tourism overtime using intertemporal analysis.
How can managers deal with these problems? If a US corporate headquarters asks a manager to offer kickbacks or other bribes, what are the options?
According to Transparency International (2014) Why do you think the U.S. does not have a perfect score? What does it need to do to improve its corruption perception index?
During 2009, the demand for LCD televisions appeared to be falling. At the same time, some industry observers expected that several smaller television manufacturers might exit the market. Use a demand-and-supply graph to analyze the effects of these ..
Assume that the long-run aggregate supply curve is vertical at Y = 3,000 while the short-run aggregate supply curve is horizontal at P = 1.0 (P = 1.0 is the SRAS Curve, in other words). The aggregate demand curve is Y = 3(M/P) and M = 1,000. If the e..
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