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Q. 1. Give an example of how the Principle of Prospect Cost applies to your life. Think of a recent decision you made. It could be a decision as simple as whether to eat out or cook your own dinner or it could be a decision to quit your work also goes back to school. Illustrate what alternatives did you consider? How did you arrive at your final decision? Did you implicitly weigh marginal cost also marginal benefit? How does the concept of prospect cost apply to production possibilities curve (PPC) analysis? How can we utilize PPC analysis to examine illustrate what we do?
2. Think of a business industry you recently visited (such as Wall Mart, Home Depot, Red Lobster, Barnes & Noble, McDonald's, etc.). Illustrate what motivated the producers of all the person products in the store to create them also offer them for trade? How did the producers decide on the best combinations of resources to utilize? Who made those resources available also why? How does the marketplace Conclude who will get the goods also service? Who decides whether these particular products should continue to be produced also offered for trade? How do these decisions differ between capitalist also socialist systems?
If you were to draw the two nations' PPF's on the same graph, elucidate which would be farther to the right.
Can the researcher say with a 0.05 level of significance that the proportion of children not completing primary school is more than 1%.
Consider a small economy in which consumers buy only two goods pies and tarts. In order to compute the consumer price index for this economy for two or more consecutive years.
The no-trade equilibrium in Foreign. How do the relative no trade prices of computers compare in Home and Foreign.
Advertising is powerfull strategy to make people aware about company products and services and for this case is to emphasize reliability and low price, this effort will help the company to sustain in this area and to develop a customer franchise a..
Illustrate what are the benefits also costs to the US economy of labor migration (illegal also legal) into the United States from Mexico.
Draw the MC cure for Guns in terms of the production of butter. If the economy produces 3000 guns per day, how much butter can it produce per day.
The Performance by Patrice (PbP) Company purchased a Centaur Computer controlled manufacturing milling machine for $635,000 for use in its rear end manufacturing operations on November 8, 2007.
Marge opens an oxygen bar in a building she owns. She utilized to rent the building to her brother in law.
Suppose that these cost figures accurately refl ect the economic costs of providing inpatient services at these two hospitals and that the two hospitals face the same average total cost curve.
Illustrate what might a more proactive Motorola have done dissimilarly had it correctly perceived the steps its rival Nokia would take.
Compare the additional revenue Circuit City makes as it moves from 2 million to 4 million copies of Vista with the additional revenue it makes as it moves.
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