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Q1. If one defines incremental cost as the change in total cost resulting from a decision, and incremental revenue as the change in total revenue resulting from a decision, any business decision is profitable.
Q2. Bob runs a pedicure business in a perfectly competitive industry. He knows that he will break even if the price of pedicures is $15 but that he will have to shut down if the price is $11. If the market demand in the industry is P = 30 (0.2)Q and the market supply is P = (0.2)Q, then in the short run of Bob.
What combination of T and M will you choose? Suppose that the price of day trip rises to $80. How will this change your decision making?
Austria has a history of strong hostility to nuclear power, and over the last twenty years the Austrians have shut down all of the reactors in Austria
Mustard and mayonnaise are substitutes. Mustard and relish are complements. Mustard is a normal good. During the summer, about 50% of all mustard was recalled by manufacturers and removed from store shelves.
Government encourage a decision to expand? How would it affect the reputation of the business?
If most businesses in an industry are earning a 13 percent rate of return on their assets, but your firm is earning 23 percent what is your rate of economic profit
A county is considering using a piece of park land for one of two alternative recreation projects. Project S would require construction costs of $2 million (year 0) and generate net benefits of $1 million per year for 10 years.
Define Mercantilism, Pick a country and talk about the products they import and export with the U.S.A. Also talk about the composition of trade with relation of abundance of the two countries
DHL prides itself on having its own staff of more than 300,000 people spread across the globe, instead of relying on local agents.
China has continued to lag well behind the rest of the world in information technologies
Use supply and demand model to explain the dramatic rise in the price of a college education.
Willie will receive all his operating expenses, and in addition will receive $2,000 each year for the decline in value of the automobile.
What is the opportunity cost of Josephine's trip to the wedding
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