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You can either spend spring break working at home in Alabama for $200 per day for 5-days, or you can spend the week in Costa Rica where travel expenses will total $700 (food, hotel, and a plane ticket.) What is the opportunity cost of the trip to Costa Rica? Explain how you determined your answer.
A New Hampshire resort offers year-round activities: in winter, skiing and other cold-weather activities; in the golf, tennis, summer, and hiking.
Determine what are voluntary export restraint contracts and explain why do some governments force foreign exporters into them instead of just using quotas or tariffs to restrict imports by the same amounts?
The Quik Service Walk In Clinic always has three M.D. and 8 R.N.s working at its 24 hour clinic, which serves consumers with minor emergencies and ailments.
The organization and coordination of the activities of a business in order to achieve defined objectives.
Explain whether the firm will make economic profit, In the short run and In the long run.
Assume the external marginal cost of pollution is MCext=5Q and internal marginal cost is MCint=10Q. Further, suppose the inverse demand for the product, Q, is given by P = 90-Q.
You are given the following information on long run cost function, Compute the long run average cost and marginal cost.
Suppose you are the manager of a company that produces output in two plants. The demand for your company's product is P = 78 - 15Q, where Q = Q1 + Q2.
During the last ten-years, sales revenue has increased from 25 million to 65 million. Estimate the company's growth rate in sales using the constant growth model with annual compounding.
Coca-Cola and PepsiCo are leading competitors in market for cola products. In 1960 Coca-Cola introduced Sprite, which today is the worldwide leader in lemon lime soft drink market and ranks fourth among all soft drinks worldwide.
Assume that the manager of a company operating in competitive market has estimated the company's average variable cost function to be AVC=4000-5Q+0.002Q^2
The Zinger Corporation manufactures and sells a line of sewing machines. Demand per period for a particular model is given by the following relationship:
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