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George and Bill are stuck together on a desert island. There are two goods, Coconut (C) and Bananas (B). George has production function 5C+B=40, while Bill has production function C+3B=36. If they could not trade, George would choose to product 6C, while Bill would produce 8B. 1: Figure out George's opportunity cost;2: Figure out Bill's opportunity cost;3: Figure out each party’s comparative advantage;4: Determine which good each party should specialize in, and determine production.
The agreement required the tobacco companies to pay the states $246 billion over twenty- five years. The tobacco companies are going to have raise prices to be able to pay the states.
Suppose Dell computer Company operates in a perfectly competitive market producing 5,000 computers per day. What is total cost to decrease and profits to increase.
A large automobile manufacturing company is considering the installation of a high-tech handling system. The initial cost of the system is $3,000,000 and it is estimated it will save $750,000 per year in manual labor, and will incur $27,500 in operat..
Income elasticity can be either positive or negative depending on an item we are considering?
The discussion centered on Barnett’s pending grievance concerning her recently completed layoff. Green, a nonunion employee, asked Barnett if she had said that Green had not been laid off because she was providing sexual favors to a supervisor. What ..
Suppose the Quick Towing Company purchases a new tow truck. The old truck had a book value of $1,000 and was sold for $1,420. If Quick Towing is in the 34 percent marginal tax bracket, what is the tax liability on the sale of the truck? What is the a..
Suppose that a monopolist's product could be either high quality (H) or low quality (L).
How many acres should John choose to mow in order to maximize profit. Prevailing market price of lawn mowing is $20 per acre.
Economists discuss that there is an efficient amount of pollution abatement. Why is the efficient amount of abatement unlikely to be either zero or 100 percent?
Evaluate the financial performance of the company using the information provided in the scenario. Consider all the key drivers of performance, such as company profit or loss for both the short term and long term and how each factor influences manager..
Illustrate what is the equilibrium to this game.
Where does this short-run aggregate supply curve intersect the long-run aggregate supply curve that you drew? Just need an explanation of what it woudl look like?
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