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For each of the following, describe some of the potential opportunity costs:
a. Studying for your economics test
b. Spending 2 hours playing computer games
c. Buying a new car instead of keeping the old one
d. A local community voting to raise property taxes to increase school expenditures and to reduce class size
e. A number of countries working together to build a space station
f. Going to graduate school
The Coca-Cola Company has 40% of the cola market. Determine the probability that a sample proportion
How many tickets to sell to maximize total welfare.
Calculate gross national product and net national product
Similarities in the definitions of management quoted from authors of management textbooks
Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..
Draw a graph of the market for chewing gum. What are the equilibrium price and quantity? Mark the equilibrium price and quantity in the graph.
Why did people believe the difficulties Aisian economies were expericing in 1997-1998
Think of any financial innovation in the past ten years
Draw the production possibility curve and a. Define consumer surplus and producer surplus.
What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution
Explain the role culture may play in influencing entrepreneurship both at the individual and social level. Define culture in your response.
Depict the von Neumann-Morgenstern utility index u in a diagram
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