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You are given a free ticket to see the nike mens basketball team play for the league championship. The Spurs are playing on the same night and is your next-best alternative activity. Tickets to see the spurs cost $40. on any given day you would be willing to pay up to $50 to see the Spurs Play. Assume there are no other costs of attending either Game. Based in this information, the opportunity cost of going to the nike mens basketball game is (CHOOSE the BEST ANSWER)
a) $0 b)$10 c) $40 d) 50
Using a demand/supply diagram, illustrate and explain the effects of the imposition of an export tax on a good Y by a home country’s government on (i) the home country’s consumers of Y, (ii) the home country’s producers of Y, and (iii) the home gover..
q1. assume the monthly demand for soda by a consumer is given by.a. if the price of soda is 1 per can explain how many
Suppose that a Starbuck’s venti latte currently sells for US$4.00 in the United States and C$5.00 in Canada. Make up a value for the exchange rate between the U.S. dollar and the Canadian dollar (expressed as Canadian dollars per U.S. dollar) that le..
While virtually anyone with a degree in college chemistry could replicate the industry's formula, due to the relatively high cost, Semi-Salt has decided not to apply for a patent.
Compute various indicators of the state of the labour market using the following information. Please show all of your working. If you do not, you will receive zero marks for the question(s).
Lee Inc, is considering a robot that will cost $6,000 to purchace. At the end of it 9 year life, it salvage value will be $1,000. The robot will need to overhauled in year 5 at a cost of $3,000. O&M costs per year will be $1,000. The robot will gener..
What are episode-based payments (EBPs) and how do they differ from traditional FFS payments. What is the economic intent behind EBPs? Explain how EBPs relate to the idea of supply-side cost sharing?
Give an example of an event or incident that has taken place in the U.S. economy which has a major economic impact--be specific, e.g., 9/11 attack, natural disaster, rise or fall in oil prices due to OPEC policies, consumer optimism or pessimism abou..
How does the analysis of risk aversion change when one allows for alternative models of decision-making then expected utility? How does subjective expected utility theory differ from expected utility theory? How might one elicit a subjective probabil..
In developing countries, as average wage levels rise with the country’s growth it is often observed that: the labor force participation rate of adults rises but. How do labor economists explain these empirical facts?
q.consider two countries japan and korea. in 1996 japan experienced relatively slow output growth 1 while korea had
Calculate quantity, total revenue and profit when the company maximizes its profit and changes the same price in both markets.
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