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Tammie makes $150 a day as a bank clerk. She takes off two days of work without pay to fly to another city to attend the concert of her favorite music group. The cost of transportation for the trip is $250. The cost of the concert ticket is $50. What is the opportunity cost of Tammie's trip to the concert? Show your calculations.
What is the effect on the price of a recordable CD and the quantity of recordable CDs sold if a. The price of an MP3 download rises? b. The price of an iPod falls? c. The supply of CD players increases?
Discuss, using examples and academic references, the statement that perfect competition gives an optimal allocation of resources but that the existence of scale economies may make perfect competition impossible.
1 suppose that the market for bottled water is perfectly competitive.a. draw the current equilibrium using graphs for
discuss the following situation a from the strictly legal viewpoint b from a moral and ethical viewpoint and c from the
Perform a Google search to find what externalities these proponents claim. Do you believe that these externalities claimed are truly externalities and justify government subsidies of home ownership.
Given the information above solve for the equilibrium output
A firm that emerges as the only seller in an industry with economies of scale is a(n): The profit maximizing rule MR = MC applies to: Suppose that the total cost curve for a firm is given by the equation TC = a + bQ, where 'a' and 'b' are positive nu..
compare and discuss realism orthodox liberal and interventionist liberal perspective. provide empirical support and
This is a self-reflection paper developed based on the classroom discussion around minimum wage. Explain the effect minimum wage has on the economy. List and describe both the pros and cons of the more recent increases in the federal minimum wage...
Why are real wages in the United States higher than in other countries? Is the labor force itself responsible for the higher wages of American workers? Explain.
with technological advances companies can expand their operations effectively and efficiently. international financial
What happens to social welfare (the sum of consumer surplus and producer profit) as a result of the threat of entry in this market? What happens to equilibrium price? What might this imply about the role of potential competition in limiting market..
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