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a) Explain all opportunity cost that you consider when deciding whether to purchase tickets for and attend a concert for 3 hours in Boston on a Saturday night.
b) How do the opportunity cost change if a friend gives you the tickets free of charge? Do you still incur opportunity costs?
A student bought a $75 used guitar and agreed to pa for it with a single $85 payment at the end of 6 months Assuming semiannual (every 6 months) compounding, what is the nominal annual interest rate? What is the effective interest rate?
In March 2007, the US unemployment rate was 4.4 percent. In August 2008, the unemployment rate was 6.1 percent. Use this information to predict what happened between March 2007 and August 2008 to the numbers of
Price discrimination tends to be more common in the sale of services (e.g., discrimination by income for universities and by age for air transportation services) than in the sale of manufactured goods. Why do you think this is so?
Chris Cook studied the same situation and decided that the solar system will not require the $180 of maintenance every 4 years. Chris believes future replacements of either the conventional electric water heater or the solar water heater system ca..
Determine the economic implications for the United States of the increase of China and India as significant economic powers.
Suppose if the table shows the demand faced by a monopoly firm then what is that firms marginal revenues
Most of the critics argue that America has too many elections, a surplus of elected officials, and unwieldy layers of government.
Assume that initially the goods and services market is in equilibrium at potential of output and that the government budget is balanced,
The Fed should simply raise the money supply at same rate that full employment economy increase, and the government should desist from any stabilizing urges.
a. Calculate the elasticity for each variable at that point and briefly comment on what information this gives you for each variable. b. Should this firm be concerned if macroeconomic forecasters predict a recession
Find out the marketplace value of output and household saving. What is the relationship of saving and investment.
Show your budget constraint between labor and wages, and show your optimum point.b. Suppose that the tax law is changed so that all wages are subject to a 25% tax. Do you now work more or less than 10 hours? Does the government collect more or les..
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