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What is the opportunity cost of going to college? List the major explicit costs of attending a college. Also, list the main opportunity or implicit costs of going to college. What may be some of the opportunity costs of not attending and finishing a college degree? How can one compare the economic costs and benefits of going to college to determine whether one should attend college or not?
what is the marginal utility of X? If a consumer moves downward along an indifference curve, what happens to the marginal utilities of X and Y? What happens to the MRS?
Define the real interest rate, r. Why does it differ from the nominal interest rate, i, in the presence of inflation? Why does the actual real interest rate, r, generally differ from the expected real interest rate, r^e? How does this relation depend..
(a) Basing your calculation on simple interest and giving your answer correct to four significant figures, calculate the annual rate of rate of interest paid to Barbara. (b) State your answer in (a) rounded to three significant figures.
"The demand relationship for the good is P = 25 - 3Q. The supply relationship for the good is P = 5 + Q. Who bears the economic incidence of a tax if there is a $1 per unit tax on the buyer of this good? Who bears the statutory incidence? Who bears t..
W hat will happen to the number of firms, the market supply, and the price of the good as we move from the short run to the long run?
When the GFC crisis hit, most of the developed world went into recession. According to the strict official definition of recession, Australia did not. Examine the relative roles played by the Federal Government, the Reserve Bank of Australia and f..
The problem of the commons is the absence of incentives to
A firm operates two factories. The cost function at the first plant is C_1(q1) = (q1)^2 + 8q1 + 5 and the cost function at the second factory is C_2(q2) = 0.5(q2)^2 + 2q2 + 10. Find and graph the marginal cost curve for the firm. What is the firm's s..
A firm in a perfectly competitive market
Explain how U.S. drug and trade policies have impacted Mexican migration. Your answer should provide descriptions of related policies, discuss the impact on Mexican communities, and theorize how these policies have motivated immigration.
Which do you believe is more important for a firm’s financial efficiency and success: economies of scale or the learning curve? Explain and be specific, giving examples, not discussed in class or the textbook, where possible to support your answer.
Carbon tax could raise costs for industries that consume large amounts of energy, but some sectors are better positioned to recover the cost increases than others so Could higher energy prices hurt U.S. competitiveness? what can be done about it?
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