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The city of Bugnussle is considering exceeding the runways of its municipal Airport so that commercial jets can use the facility. The land necessary for the runway extension is currently farmland which can be purchased for $350,000. Construction costs for the runway extension are projected to be $600,000 and the additional annual maintenance costs for the extension are estimated to be $22,500. If the runways are extended, a small terminal will be constructed at a cost of $250,000. The annual operating and maintenance costs for the terminal are estimated at $75,000. Finally the projected increase in flights will require the addition of two air traffic controllers at an annual cost of $100,000. Annual benefits of the runway extension have been estimated as follows.
The terms price maker, price setter, and price searcher are all meant to imply the same thing, which is. In monopoly,
Explain how much of input 2 does it use. B) What is the most that it is willing to bribe an inspector to allow it to use another unit of input 1.
You have been asked by your supervisor to evaluate a new proposal designed to cut costs. Under the plan, workers would be paid a fixed wage of $8 per hour.
Suppose that the bus schedule is changed so that buses are 10 percent more frequent and that rider-ship subsequently rises to the level that existed before the fare increase. In other words, the fare increase has a negative impact on rider-ship, but ..
Once upon a time there was a sacred temple hidden in the deep mountains, in which believers gathered to exercise meditation to become saints. The believers sat in a circle facing each other while meditating during the day, and retired to their separa..
Today, most of our monetary transactions are done with plastic or via bank apps, all of which are easily tracked. Even craft vendors at small town festivals use apps on their smart phones and tablets to accept cashless payments. What behaviors would ..
Use the income statement below to find the financial ratios for (a) cost of goods sold, (b) gross profit, (c) operating expense, and (d) net income before taxes.
Suppose labor productivity differences are the only determinants of comparative advantage, and Brazil and Chile both produce only coffee and sugar. In Chile, either 5 units of coffee or 2 units of sugar can be produced in one day. In Brazil, a day of..
Consider an economy with the production function Y = L ^(1/3). calculate the equilibrium levels of real wage, labor and output. What is the equation of the aggregate demand curve for this example? What is the price level? What is the nominal wage lev..
Why doesn't the U.S. simply restrict all goods coming in from China? Why can't the U.S. just minimize the amount of imports coming in from all other countries?
For every of the subsequent goods, indicate whether you expect demand to be inelastic or elastic also explain your reasoning
The number of people employed in a city were 128,000. The adult population was 201, 000 and the labor force participation rate was 67%. Based on the figures listed above, what is (1) the unemployment rate, (2)labor force participation rate, (3) numbe..
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