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It is estimated that the maintenance cost on a used car will be $300 the first year. Each subsequent year, the maintenance cost will increase by $50. At an interest rate of 6% per year, what is the equivalent equal uniform annual cost of maintaining the car for its 10 year life?
What indictors are evident that there is too much or too little money within the economy? How is monetary policy aiming to adjust this?
Now suppose your utility functioin is U= (square root)Wealth. What is the maximum you will pay for the bike check-in now.
Two boxers. Brutus and Floyd, are training to fight each other. Each boxer is considering whether to take steroids to improve his chance of winning the fight. What is the Nash equilibrium? Would the boxers be better off if the boxing association bann..
When you double the amount of workers (inputs) you hire, and your factory’s production (output) quadruples, then you are experiencing:
Suppose there is a policy debate regarding the United States imposing trade restrictions on imported steel rods: The president of the United States argues that the United States should threaten to impose a tariff on Chinese steel rods in order to ind..
q.suppose you currently consume 10 cups of coffee every week on a cost of 4 each at the local four bucks. one day you
If a firm can sell its product for more than its fixed costs, but not for more than its totals costs:
Does a competitive firm’s price equal its marginal cost in the short run, in the long run, or both? Provide specific examples to support your answers. Does a competitive firm’s price equal the minimum of the average total cost in the short run, in th..
Do you think this pattern of trade is consistent with the principle of comparative advantage?
The following activities would not be included in the GDP: the purchase of a new car, gratuities at a restaurant, and payment to a neighbor for lawn-mowing services. Identify three more examples of transactions that would not be included in the GDP. ..
Suppose you are given the following Total Product Function: Q=100 K^3/2 L^4/2 M^4/7 ,where Q is total output or units produces; K, capital; L, labor; and M, materials.; that is, this is a input factor production function. Find the Average products of..
Consider the general equilibrium model on local public goods that we discussed in class. We found that the optimal population size
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