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Provide an explanation of difference between opportunity and accounting cost, and accounting and economic profits. Then, please provide an example from your experience where opportunity cost was ignored and only the accounting (i.e. monetary) cost was considered.
How did this affect the decision made? What were the consequences?
Sara runs a small business assembling personal computers. This table shows her total cost at different levels of output. Number of computers produced
Q. Explain about Household savings? Remember that consumption may refer to observed consumption as well as to demand for consumption. The same is true for 'household savings',
using a graph of the classical labour market, illustrate the effects of a real wage existing in the market that is lower than the equilibruim real wage.what will eventually happen
Last year, the nation of Tigerland imported goods totaling $500 million and exported products totaling $386 million. Tigerland experienced a(n).
For retirement planning, you decided to deposit $1,000 per month and increase your deposit by $100 per month. How much will you have at the end of 10 years if the bank pays 3% annu
Q. Explain about Nominal wage level? In macroeconomics, we are usually not interested in the wage for a specific individual though in the average wage for all employed individu
how to calculate consumption from saving and tax
RELATIONSHIP WITH 8 VARIANTS OF NATIONAL PRODUCT AGGREGATESÂ We have shown the distinction between national product at market prices and national product at factor cost, based
In monopolistic competition: a) Firms face a perfectly elastic demand curve b) All products are homogeneous c) Firms make normal profits in the long run d) There are ba
why is international trade important for South Africa?
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