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Q. Master Card has a series of cute commercials that list a series of accounting items also costs leading to a costless product. Cell phones are often advertised as being free. In economics, it is said that nothing of value is either free or costless, everything has a cost. Take something from your experience, that is allegedly free or costless also use the concepts of accounting costs, economic costs, precise costs, implicit costs, opportunity costs also sunk costs to Elucidate why it is neither costless nor free.
Express Illustrate what will happen also why to the firm's average fixed costs, marginal costs, average costs also profits as the firm makes its choices.
Think of a real-life example of a profit corporation or small business with which you are familiar.
Peggy-sue's cookies are the best in the world, or so I hear. She has been offered a job by Cookie Monster.
A bank manager advises all of his loan officers that the average cost of funds for the bank over the past year
Paul owns a home on the top of a hill and enjoys an unobstructed view of a large wooded area.
Elucidate how much income did this represent for each of the 300 million U.S. citizens. Illustrate what was the largest GDP decline in a postwar U.S. recession.
Find out the aggregate economic effects of the combination of the shock to the economy and the government's response to it.
According to the production function, with 300 labor hours, Illustrate what is this economy's capacity to produce.
After allowing for sleep and personal care, she has 70 free hours each week and must split these hours between work to earn money.
Suppose that the US government determines that cigarette smoking creates social cost not reflected in the current market price an equilibrium quantity of cigarettes.
The opportunity cost of Juan's time is $8 per hour. If Juan receives $2 per pound for his fish, what is the optimal number of hours he should spend fishing.
If Jones sells the equipment today for $180,000 and its tax rate is 35%, what is the after-tax cash flow from selling it.
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