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what is an opportunity cost? How does the idea relate to the definition of economics? which of the following decisions would entail the greater opportunity cost : Allocating a square block in the heart of New York City for a surface parking lot or allocating a square block at the edge of a typical suburb for such a lot?
What is the maximum quantity of quarks it can produce and what is the opportunity cost of producing the first 600 quarks?
Principles of Microeconomics - There are 2 brands of cell phones that are almost identical except for some minor features: the A-Phone and the Pomegranate.
What are the efficient quantities for each of the two periods? What are the correspondingprices and MUCs?
Discuss why is it important to think that the holistic view of a student in terms of standardized assessment and how would the results of your interpretation effect educational decisions for the student?
Will Truman and Associates, LLC is a successful Manhattan based law company. Worker productivity at company is examined in billable hours, which vary in partners and associates.
Who has a comparative advantage in producing wine and who has a comparative advantage in producing schnitzel?
Suppose the demand for a product is given by P = 60 - 2Q. The supply is given by P = 10 + 3Q. If a $10 per unit excise tax is levied on the buyers of a good, what will be the deadweight loss created by this tax.
Calculate point elasticities at prices of 5 and 9. Is the demand curve elastic or inelastic at these points?
Does an increase in the average annual labour income imply that the individual worker's labour income has increased and
What is the profit maximizing output if the price and What is the maximum profit that can be achieved - What is the marginal product of the 3rd worker
If some auction participants for crude oil field leases have estimates that the oil in the ground is worth $1.2 million, $1.3 million, or $1.5 million with certainty; and other auction participants have estimates that the same oil f..
In what ways does economics class relates to the real world? How does knowledge gained from economics teaching been valuable in helping somone understand or evaluate events or policies?
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