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The opportunity cost of a new public highway is the:
money cost of hiring contractors and construction workers for the new highway.
other goods and services that must be sacrificed to construct the new highway.
cost of constructing the new highway in a future year.
increased traffic from the use of the new highway.
Discuss how accounting costs and economic costs differ. Illustrate how total profits change as output expands. Describe how the profit-maximizing rate of output is found.
The manager of the aerospace division of General Aeronautics has estimated the price it can charge for providing satellite launch services to commercial firms.
Human Capital Investments. Suppose that the marginal cost of an additional unit of human capital is given by MC = 400 and the marginal benefit is given by MB = 800 ? 25HC , where HC is the number of units of human capital. Graph MB and MC as a functi..
Describe an example of a real-world industry or market that would be considered by economists to be a natural monopoly. What characteristics of the industry make it a monopoly? What is the impact of the monopoly power on its customers?
A political campaign manager must decide whether to emphasize television advertisements or letters to potential voters in a reelection campaign.
George is going to replace his car in 3 years when he graduates, but now he needs a radiator repair. The local shop has a used radiator, which will be guaranteed for 2 years, or they can install a new one, which is "guaranteed for as long as you own ..
A company hires management trainees for entry level sales positions. Past experience indicates that only 20% will still be employed at the end of nine months. Assume the company recently hired six trainees. What is the standard deviation of the numbe..
Illustrate what are the values of public saving,national saving and private saving.
Explain how global stratification impact local culture and expalin what are the positive does and the negative effects.
The market for DVD rentals in Dallas, Texas, is estimated to be P= 10-0.002Q. Marginal cost (MC) of rental is equal to $2. Where PD is the price (per DVD in $) for DVD QD is quantity of weekly rental. The marginal revenue (MR) for rental is equal to ..
X-Corporation produces a good (Called X) that is a normal good. Its competitor, Y-Corp makes a substitute good that it markets under name "Y." Good Y is an inferior good. How will demand for good X change if consumer incomes increase.
Why are entrepreneurs willing to supply goods and serices for consumers at attractive price - Is it because they care personally about the consumers?
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