Use the concepts of opportunity cost and trade-offs

Assignment Help Business Economics

Reference no: EM13854017

Suppose the U.S. president is attempting to decide whether the federal government should spend more on research to find a cure for lung cancer. He asks you, one of his economic advisors, to prepare a report discussing the relevant factors he should consider. Use the concepts of opportunity cost and trade-offs to discuss some of the main issues you would deal with in your report. Relate your report to three of the principles of economics.

Reference no: EM13854017

Questions Cloud

Demand is inelastic and marginal revenue is negative : If a monopolistic firm (price searcher) can sell 9 units at a price of $100 each but must reduce its price to $80 in order to sell 10 units, then Demand is inelastic and marginal revenue is negative. Marginal revenue is falling but is above price

Resulting equilibrium cause in the market : During 2009, the demand for LCD televisions appeared to be falling. At the same time, some industry observers expected that several smaller television manufacturers might exit the market. Use a demand-and-supply graph to analyze the effects of these ..

Higher or lower than the old equilibrium price : During the last year, the demand for books has been falling. At the same time, some industry observers expected that several smaller book manufacturers might exit the market due to the strong competition imposed by Kindle. Can you tell for certain wh..

What is the total equity in the given problem : The company paid dividends of $378 with a net working capital of $100. Current liabilities are $520 and the net fixed assets are $18,550. What is the total equity?

Use the concepts of opportunity cost and trade-offs : Suppose the U.S. president is attempting to decide whether the federal government should spend more on research to find a cure for lung cancer. He asks you, one of his economic advisors, to prepare a report discussing the relevant factors he should c..

Calculation of interest on discounted and non-discounted : Calculation of interest on discounted and non-discounted notes.

Compatible with an expanding vertical boundary : Explain how a focus on core competency could be compatible with an expanding vertical boundary; with an expanding horizontal boundary

What were the main points learned in doing this lab : Use the the points given and ellaborate. What were the main points learned in doing this lab. Describe any problems you encountered in running the lab and any suggestions you have to deal with these problems

Demand of commodity increases with income : If demand of a commodity increases with income,

User Account

All Pages