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Carefully review the concept of opportunity cost before replying to one or more of the following questions.
What is the opportunity cost to you of taking this class(Micro Economics) this semester?
Scholars and others have raised the issue of the opportunity costs (to society) of pervasive Internet use (Facebook etc.). What do you think some of those costs are? (Costs in this sense don't necessarily have to be in dollars.)
Must be at least 100 words and if you are going to cite a reference, please provide the reference.
Explain Carver Memorial Hospital's surgeons have a new procedure that they think will decrease the time.
A fund has an alpha of 0.73 percent and a tracking error of 4.9 percent. What is the fund's information ratio?
Technology is viewed by economists as a source of comparative advantage but technological advantage is often transitory. Use the Product Life Cycle (PLC) Theory to explain the role of technological innovation as a key determinant of the trade pattern..
Ken and Daniel always eat miso soup and sushi in exact proportions – one miso per twosushi. They throw away any extra soup or sushi as it would not give them any pleasure. Draw the Edgeworth box for Ken and Daniel. Please put Ken at the origin and Da..
Which of the following factors reduces the need for government involvement in the marketplace?
Eddie's Precision machine shop is insured for $700,000. The present yearly insurance premium is $1.00 per $100 of coverage. A sprinkler system with an estimated life of 20 years and no salvage value can be installed for $20,000. what is the present w..
Two firms compete by advertising. Given the payoff matrix to this advertising game, identify each firm's best response to its rival's possible actions. Does either firm have a dominant strategy? What is the Nash equilibrium?
A hospital bought digital imaging equipment annual payments of $243,000 per year over 8 years. if the interest rate is 13% what will the total amount paid for the equipment be at the end of the eighth year?
Sketch graph a standard short-run production function, and identify on it the points where the average product peaks, the marginal product peaks, and the marginal product reaches zero, and the average and marginal product intersect.
Sketch a perfectly competitive firm operating in short-run equilibrium but making economic losses. Put in all the functions necessary to show that the firm should stay in business in the short-run despite the losses. Shade in the area of loss shown b..
Supply and demand are foundational concepts in understanding economic theory. Whether you are a coffee drinker or not, you have been tasked to examine the impact of supply and demand when dealing with the coffee retail industry. A new health report c..
In the Adirondacks there used to be a number of paper mills, every one of them has closed down. However, a group of entrepreneurs is going to refit one of the old paper mills and reopen it. They are planning on employing 5,000 workers in a town of 10..
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