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Opportunity cost is one of the cornerstones of managerial economics and the decision making. First, provide your own explanation of dissimilarity between opportunity and accounting cost, and accounting and economic profits. Then, please provide an example from your experience where opportunity cost was ignored and only the accounting (i.e. monetary) cost was considered.
How did this affect the decision made? What were the consequences?
Suppose that firms in the short-run are earning above-normal profits. Describe what will take place to these profits in long-run for the following markets:
An economy begins in long-run equilibrium, and then a change in government regulations allows banks to start paying interest on checking accounts.
mayo destination water park center offers family fun year-round in the northstar state to locals and out-of-state
United States winter wheat production rise dramatically in 1999 after a bumper harvest. The supply curve shifted rightward; as a result, the value reduced and quantity demanded increased
many of the plastic toys that babies and toddlers love to gnaw on are made with chemicals phthalates that are used to
why are trade agreements important for the various countries involved? how is international trade related to the u.s.
If the Social Security retirement system was a private retirement system, it would be declared bankrupt. Discuss why this is so and why the Social Security system can continue to pay benefits despite the fact that it can be considered bankrupt.
6. A certain population of individuals has a mean IQ of 100, but the variance is unknown. In a random sample of 21 individuals, the sample variance was s2 = 204. Calculate the following confidence intervals for σ2
should the federal government cut federal aid to the states to reduce the massive fiscal deficit? by so doing what
spielberg takes 100 out of his piggy bank and deposits it in his hollywood bank checking account. by how much does the
write a two to three 2-3 page paper in which youidentify and discuss three 3 externalities which can either be positive
Give an example of how you would use this information to set the price for your product in the market place and explain one factor in detail about how shifting demand and supply curves makes market demand estimation difficult
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