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What are implicit costs? Do implicit costs contribute to the opportunity cost of production? Should an implicit cost be counted as cost? Give three examples of implicit costs. Does the firm"s accounting statement take implicit costs into account? Why or why not?
Sally is planning opening her own new beauty salon. She anticipates the following expenses per year, Furniture: $20,000 Additionally, Sally is withdrawing $34,000
In general, marginal cost curve is U-shaped as you learned in my lecture and textbook. However, exception exists. Would you please provide one particular industry as an example to illustrate that MC is not U-shaped
An asset is expected to be used in a project that will last 5 years. The MACRS property class for this asset is 3 years. If B = 10,000 and S = 3,000 at the end of year 5, determine the depreciation schedule.
A perfectly competitive market and the perfectly competitive potato producers in Prince Edward island, the market demand curve rot potatoes
The velocity of M1 money has moved erratically in the past several years because which of low and stable rates of inflation of regulatory changes allowing banks to pay interest on checkable deposits interest rates have been stable monetary policy ..
Define world allocative efficiency as it relates to regionalism and multilateralism. Discuss the static effects and dynamic effects of customs unions.
stuck on these an open economys GDP is always given by. 1.Y=C+I+G+T 2.Y=C+1+G+S 3.Y=C+I+G 4.Y=C+I+G+NX other things the same, an increase in the U.S interest rate causes the quanity of loanable funds supplied to 1. rise bc net ccapital outflow and do..
When you were a child living at home, your parents or guardians paid for the food, utilities and clothes that you use. How did this “third-party-payer system” affect your behavior? How did your parents or guardians try to limit these effects?
On average, does an increase in taxes raise or lower real GDP If taxes as a percentage of GDP go up 1 percent, by how much does real GDP change Are the decreases in real DDP caused by tax increases temporary or permanent
in what way the US trucking industry exemplified the capture theory hypothesis of government regulation prior to the passage of the Motor Carrier Act of 1980 and the result of hte passage of the Motor Carrier Act in 1980.Determine whether the Justi..
a pollutoin control agency is considering the following rgulatory policies: (i) taxing the use of one input that increases pollution. (other inputs affect pollution too, both increasing and decreasing it) (ii) taxing the final goods that firms pro..
This innovation could save farmers $1 billion a year in crops now lost to frost damage. If this technology becomes widely used, what will happen to the equilibrium price and quantity in, for example, the potato market?
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