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jamal has a flexible job. he can work everyday but is allowed to take a day off anytime he wants. his friend Don suggests they go to the amusement park on tuesday.the admission charge for the park is $15 per person and it will cost them $5 each for gas and parking. Jamal loves amusements parks and a day in the park is worth $45 to him however jamal also enjoys his job so much that he would be willing to pay $10 per day to do it.a- if jamal earns $10 if he works should he go to the amusement park?b-if jamal earns $15...?c-if jamal earns $20...?
please explain how to calculate implicit explcit and opportunity costs.
Compute the upper also lower limits within which marginal cost may vary without affecting the profit maximizing output or the price.
increases the equilibrium GDP also the size of that increase varies directly with the size of the MPC
A new law requires that all construction workers in your area belong to a labor union. Will this shift the labor supply curve, demand curve if both in home construction.
Why do people routinely stuff themselves at all you can eat buffets Explain in terms of both utility also demand theories.
Illustrate what do you think are the defining characters of a science. does the study of the economy have these characteristics.
the average price level is $4 per unit also the quantity of money. Illustrate what happens to velocity if the average price level falls to $2 per unit, the money delivery is $2000 also real GDP is 4,000 units.
a competitive industry is comprised of 15 identical firms, each with a short-run total cost function
Illustrate what amount of profit does the industry fail to pick up by refusing to increase output by one unit
How many workers should the firm hire if the price of the output is $10? Suppose the price of the output falls to $7.50. Illustrate what do you think would be the short-run impact on the firmâ??s production.
How would a downward change in the money supply affect you personally. How would it affect your career. What impact would rational expectations have on your decisions in this situation.
Compare also contrasts the continuous current account deficits of the U.S. with the continuous current account surpluses of Japan.
Is your answer consistent with illustrate what you would expect to find with the liquidity preference framework.
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