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Tim has purchased a ticket to see a concert in Miami. The ticket cost Dave $600. To attend the concert Tim will have to take 3 days off from work where his daily compensation is $250. In addition Tim expects travel expenses to be $175 and the cost of a hotel for 2 days to be $275. What is the economic cost of Tim attending the concert?
Cory Manciagli is planning to retire in 20 years. Money can be deposited at 6% compounded quarterly. What quarterly deposit must be made at the end of each quarter until Corey retires so that he can make a withdrawal of $40,000 semiannually over t..
What is the short-run marginal cost curve b) What is the equation for average variable cost c) What is the minimum level of average variable cost d) What is the firm's short-run supply curve
Ferdinand Sludge has just written a disgusting new book, The Piggery. His publisher, Graw McSwill, estimates that the demand for this book in the United States is Q1 = 50,000 - 2,000P1, where P1 is the price in the U.S. measured in U.S. dollars.
use the formula present value = (future value)/(1 + r)n, where n is the number of years, and r is the annual interest rate. 3. From the perspective of year 1 /1/2010, the future value on 1/1/2012 is $5,500. If the interest rate in year 2012 is r
The services of a certified psychologist cost $110 per hour, and an extended health plan covers 50 percent of that cost. Under the plan, the clients covered used 625 hours of this service in a typical three-month period. To save money, the extende..
Consider the "Odd Couple" game. Felix and Oscar share an apartment, the state of cleanliness of which is a public good. It takes 12 hours of work per week to make the apartment spotlessly clean, 9 hours to be livable, and anything less leaves the ..
a. Determine the Equivalent Annual Costs of the two alternatives and recommend the economically superior system.b. Determine a Salvage Value for the Beta system such that the Beta system will have an Equivalent Uniform Annual Cost equal to the Alph..
The equation of exchange is MV = PQ, where M is the money supply, V is the velocity of money, P is the price level, and Q is real GDP. The island economy of Monet is rather simple. The only good produced in Monet is "Things," and the island is abl..
Suppose that the country of Bigu has a population of 127 million, of which 83 million are in the working-age population. Of those, 25 million are not in the labor force and 52 million are employed. a Calculate the working-age population as a percen..
Suppose that the demand for Federal funds curve is such that the quantity of funds demanded changes by $120 billion for each 1 percent change in the Federal funds interest rate. Also, assume that the current Federal funds rate is at the 3 percent ..
suppose that the distribution of sales within an industry is as shown in the
Enumerate the various objectives a firm might have and how the price mechanism can be used to realize such goals. While you're at it, calculate the price and quantity to: (a) Maximize TR (b) Maximize total profit
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