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Think about what you would be doing if you weren’t in class. The alternatives are infinite and computing the cost of them all is impossible. However, since you could only be doing one thing (not all of them) if you were not in class, determining the opportunity cost requires only knowing the one thing you would be doing. Calculate (in $$$) your opportunity costs of sitting in class.
Resizing them as necessary, to illustrate your analysis. In each case, Illustrate what are the short-run and long-run effects on the aggregate price level and aggregate output.
APA format advising the President of Rodamia making recommendations for international trade.
Assume D represents the level of decentralization of corporate decision-making. The benefits of decentralization, denoted B, = 3D and the costs of decentralization, denoted, C = 2D + 2D2. What is the optimal level of decentralization
Illustrate what is the meaning of economies of scope and explain how do they differ from economies of scale.
Insurers want to understand the Bay Area market for pediatric physician primary care services, to help decide the appropriate reimbursement rate for a pediatric primary care visit. Let the demand for pediatric visits be Q = 240 – P, and let the suppl..
Elucidate why is private property, and the protection of property rights, so critical to the success of the market system.
Suppose the services of a road are subject to congestion after 50,000 vehicles per hour enter the road. Assume that it is feasible to price road services on an hourly basis. Create a graph similar to the one in Figure 4.2 of the textbook to show how ..
Illustrate what happen if her actual disposable income is $16,000, her level of consumption or saving will be.
Barriers to entry help maintain market power and earn positive economic profits. These factors apply to all imperfectly competitive firms. Discuss these barriers are and provide a real-world application of it.
All parties make a single bid. But do not disclose the bid to peers. The organizer chooses the maximum (or minimum) bid as the winner. What are benefits of such a system as opposed to normal auction where bidders openly declare the bids and keep upda..
Find the equilibrium price also quantity, then find elasticity of demand. Which should the federal government consider when evaluating the rising cost of college.
Suppose Dell computer Company operates in a perfectly competitive market producing 5,000 computers per day. What is total cost to decrease and profits to increase.
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