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Master Card has a series of cute commercials that list a series of accounting items and costs leading to a priceless product. Cell phones are often advertised as being free. In economics, it is said that nothing of value is either free or priceless, everything has a price. Take something from your experience, that is allegedly free or priceless and use the concepts of accounting costs, economic costs, explicit costs, implicit costs, opportunity costs and sunk costs to explain why it is neither priceless nor free. Respond to at least two of your fellow students' postings.
What interest rate does she need to get to be able to retired as desired and compounded semi-annually, how much should be deposited now?
Derive the equation for the sort-run aggregate supply curve, given that the nominal wage rate equals 50. Compute the amount of short-run aggregate supply when the price level equals 2.0, 1.25, 1.0, 0.8, and 0.5. graph the short-run aggregate suppl..
If consumption increases by $12 billion when real disposable income increases by $15 billion, what is the value of the MPC What is the relationship between the MPC and the MPS If the MPC increases, what must happen to the MPS
Examine the extent of internal rivalry, entry, substitutes, buyer power, and supplier power within your industry, indicating whether each of these forces represents a high, medium, or low threat to profits.
Given the following information for November 2010, calculate the amounts of M1 and M2 in November 2010. The amounts are in billions of dollars. Currency $..
What is the question you want to use the dataset to try and answer? What is your key independent variable(s)?
(a) What marketing research did Vivian Callaway execute (b) What were the critical questions that she sought research and expert advice to get answers to (c) How did this affect the products marketing mix price, promotion, packaging, and distributi..
1. Why do you suppose that firms in Artic nations are already developing specialized tanker ships and platforms for use in privately accessible Artic areas 2. What are possible opportunity cost of opening Artic lands to private extracti..
Through what channels does monetary policy affect the economy? That is, what are the monetary policy transmission mechanisms? List first them, then clearly describe two of these channels.
In the 1992 presidential elections, Ross Perot was speaking of NAFTA, which both of the other candidates (George H.W. Bush and Bill Clinton) supported. He made the statement about NAFTA ‘that giant sucking sound you hear will be your jobs being se..
A small open economy produces two goods: Manufacturing (m) and Agriculture (a). Production of manufacturing uses capital (K) and labor (L) while production of agriculture uses land (T) and labor (L), i.e. capital is a factor of production specific..
Which one, shirts or sweaters, has a demand elasticity that will allow you to increase the price, sell fewer units BUT still increase your revenues?
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