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Using the concept of marginal analysis (MC vs. MB) analyze a particular government program and determine if you find its MB to exceed its MC. For example, the MC of a new bike trail may be $5 million of taxpayer dollars. The MB is the enjoyment the people of Springfield get from using the trail. Some may argue that the MC exceeds the MB as there are other places to run or bike. Use the same process to analyze another program or expenditure.
calculate net value added at fcitems and in millions respectively.1 purchase of machinery to be used in production
indifference theory can explain all rational choices and behavior.try the theoryout on this situation. suppose the only
How could the price of labor not fall? answer Buchanan's question: If there is an increase in labor supply, does the equilibrium wage have to fall?
assume that the government imposed a price ceiling on gasoline in order to prevent prices from getting too high. what
Implicit and explicit costs are different in that: implicit costs are opportunity costs; explicit costs are not. explicit costs are opportunity costs; implicit costs are not. the latter refer to non-expenditure costs and the former to monetary pay..
The inflation rate over a 10 year period for an item that now costs $1000 is shown below Year 1, 10% Year 2, 0% Year 3, 10% Year 4, 0% Year 5, 10% Year 6, 0% Year 7, 10% Year 8, 0% Year 9, 10% Year 10, 0% What will be the cost at the end of year 1..
what is the current macroeconomic situation in the u.s. e.g. is the u.s. economy currently concerned about unemployment
What is the new profit maximizing output level and how many workers are hired at this level
Identify a product that could be promoted using a social networking site such as Facebook. In about 100 words, explain why your chosen product would be a good candidate for a social networking-based promotion strategy.
How much substitutability do you suppose exists between inputs in winemaking? How might this factor affect efforts to cut costs?
Corporations such as McDonalds may be partially responsible for health issues such as obesity, but how much of the responsibility goes to the US Dept. of Agriculture, which has subsidized the production of cheap and nutritionally empty foods
to provide access to medical care to Kaiser workers in remote locations where medical services were in short supply,to slow the rate of growth in medical spending for Kaiser employees, as a group model HMO
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