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Sammy Hagar is a popular recording artist and is perhaps most well known for being the former lead singer of the rock band Van Halen. In a recent interview Hagar was asked whether he planned on making new music. Hagar said he refused to do so because of the high cost, saying it would cost about half a million dollars.
After learning about this interview, a commentator wrote:
“Half a million is crazy talk. Are you really going to tell me that Sammy Hagar and his other band mates don't own a recording studio between them? The recording cost would be the cost of a producer, some flights, and some accommodations for a couple of weeks. That doesn't even come close to equaling half a million dollars. Love Sam, but he needs to stop the nonsense and be honest.”
Is the commentator right? Comment from an economic perspective.
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Based on the information on the previous graph, you can tell that ______ (one, two, three, four or five) consumers will buy Blu-ray players at the given market price, and total consumer surplus in this market will be ________ $?
Irene’s Dairy is deciding whether or not to enter the market for ice cream, currently monopolized by Mattie’s Ice-cream. If it enters the market, Mattie’s can either accommodate him and share his 10million in profits equally with Irene or fight him a..
Let’s suppose the situation where the newly formed government act to cut government spending and, by doing so, eliminate the current federal government budget deficit. What happens to private investment as a result of this change in policy? What effe..
How and why can the decision of U.S. citizens to save money cause economic problems for the economy? So, if the economy is in a recession, who is at fault: business, households, or government?
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