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Which one of the following statements is not accurate? In general a production possibilities curve:
A. reveals how much each additional unit of one product will cost in terms of the other product.
B. indicates how much of each goods society should produce.
C. indicates how much of two products a society can produce.
D. indicates that to produce more of one product society must forgo larger and larger amounts of the other product.
When the price of gasoline increased from 3 to 4 dollars per gallon, the demand for gasoline decreased from 100,000 gallons to 90,000 daily. Also, the demand for a $50,000 SUV dropped from 3000 to 2500 cars per month. Estimate the change in the total..
Jeff is a risk-neutral middle-aged American. The data on his computer is worth $2000. If his computer gets a virus, he will have to spend $600 to restore the data. Alternatively, he can purchase Norton Antivirus for $100. If he believes there is a 50..
Suppose Microsoft chooses to produce 80 million copies of software per year and sells copies of software to retailers at $199 per copy. Now consider problem of a retailer like Circuit City or Best Buy.
Taylor, a securities lawyer for a major Wall Street law firm, worked on numerous successful takeover bids of companies listed on the New York Stock Exchange. Rogers and Price defend that they were merely acting on stock market tips received from a pe..
The stockroom will also be adjusting its weekend hours; so beginning on the first of next month, Saturday orders will only be filled between the hours of 8 a.m. and 12 p.m. The stockroom will be closed Saturday afternoons and Sundays.
Your buddy Gabe owns a sports restaurant/bar in St. Louis. On a recent visit, Gabe shared the following information on his annual revenue and costs: Assume that Gabe has a standing offer of $70,000 to manage another bar in St. Louis. Calculate Gabe’s..
______Companies that have flat organizations tend also to have
Consider a large country importing good X in the international market. The country is large enough to influence the international price for good X. Let the initial international price of good X be $100, where the country imports 100 units and produce..
Suppose that, in the course of a regular check-up, a doctor discovers that the patient has a potentially cancerous lesion. Most lesions are benign (non-cancerous), say 99%. The doctor orders an x-ray just in case. How is this mistake an example of re..
Your job – from the available facts, calculate the current year’s spending by category and in total. Then, calculate the expected spending next year assuming no changes are made to the plan.
The foregone value associated with the correct rather than the next best use of a given asset is called" a.) Opportunity cost b.) replacement cost c.) historical cost d.) currect cost What is the correct answer
Calculate the percentage change in nominal GDP, real GDP also the GDP deflator in 2002 also 2003 from the preceding year.
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