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Christopher bought a $125 ticket to attend Nickelback concert in Red Rocks. Because it is his favorite rock group, he would be willing to pay up to $200 to attend the concert. However, his friend Keith invites Christopher to go with him to Water World in Denver, but he is only willing to pay up to $100. What is his opportunity cost of going to the Nickelback concert in Red Rocks ?
In the market for tacos, explain the impact on the demand curve, supply curve, or both. If the market started in equilibrium, determine if the new market equilibrium price and quantity are above, below, or indeterminate with respect to the starting e..
For April 2015, the Bureau of Labor Statistics (BLS) estimates that the number of employed workers in the US was 148,523,000. The total number of workers who were not employed but were actively seeking work or waiting to be recalled from layoff was 8..
Julia’s grade in her history class depends on a term paper and a final exam. Her grade will be the minimum of the two scores. She has 1,200 minutes to devote to her history class, and she wants to maximize her grade. Putting the final exam score on t..
Andrew has decided to open an online store that sells home and garden products. After searching around, he chooses the software company Initech to provide the software for his website since their product required the least amount of specialized inves..
Identify two failed products and discuss the reasons that led to the products' failure. Or you may contrast the failed products with two from similar categories that were successful and try to figure out why they were the winners.
The city of Greenville is concerned about rising rent for low-income households. Several policies being considered. Suppose there are a large number of construction companies, In the absence of any government intervention, what will be the long run p..
What exchange is Netflix listed? What are the listing requirements for that exchange and how does Netflix compare to those requirements?
In January 1991 the Consumer price index (CPI) was 134.6. In October 2015 (the November CPI is not yet available, so use the October CPI for this problem) the CPI was 237.8. Using January 1991 as the base period, what was the real (inflation-adjusted..
Suppose there are two firms in a market that each simultaneously chooses a quantity. Firm 1's quantity is q1, and firm 2's quantity is q2. Therefore the market quantity is Q = q1 + q2. The market demand curve is given by P = 160 - 3Q. Also, each firm..
Suppose your employer allows you to use your own smartphone for work purposes but only if the employer can install software to erase the phone's information if it is lost, stolen, or if you leave the company. Describe the possible pros and cons you w..
The Fed along with many other central banks in the world has adopted the policy of inflation targeting. Explain what is inflation targeting. What are the advantages and disadvantages of inflation targeting? What is the main difference between Inflati..
lean's deluxe garment bag sales increased from, 4,800 units to 6,000 units in response to price drop from $30/unit to $20/unit. Calculate arc price elasticity of this product using mid-point formula.
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