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Question: Rosen and Gayer (2014), 10h edition, US and Global editions
A lone shepherd can graze 10 sheep per year in a meadow. Each additional shepherd who uses the meadow reduces the number of sheep that can be maintained by one per shepherd. If a person would rather stay home than graze fewer than four sheep (i.e., the opportunity cost of going to the meadow is four sheep), how many shepherds will lead their flocks to the meadow every year? What is the net gain to society (in number of sheep) of this de facto outcome? What is the efficient number of shepherds at the meadow? What is the net gain to society (in number of sheep) of this efficient outcome? Is the meadow a public good?
Following are observations on the market price and the quantity of good X produced and consumed in three different years: $10 and 100 units, $4 and 57 units, and $8 and 88 units. Can we conclude that the market demand for X slopes upward
Explain how either the Newhouse model or the Physician Workshop model could explain why hospitals might inefficiently over-invest in expensive, new technologies. What drives excessive technology investments in each model
The manager of a department store wants to determine what proportions of people who enter the store use the store’s credit cards for their purchases. What size sample should be taken so that at 99% confidence, the error will not be more that 8%?
A bond has a face value of $1,000 with maturity date 20 years from today. The bond pays interest semiannually at a rate of 8% per year based on the face value.
Estimates of the maximum amounts of output possible with different combinations of two input factors, X and Y.
Explain What jobs do you think have the best mix of salary and other characteristics that individuals care about?
2000 years ago gladiators fought in the coliseums of ancient rome making huge salaries. is this an example of a winner
What is the net present worth of this operation? Would he be better off using a DDB method of depreciation with the same assumptions?
Does the positive value ofXtmake economic sense? What is the underlying economic theory? Suppose we were to redefineXas the ratio of the Canadian CPI to the U.S. CPI. Would that change the sign ofX? Why?
Draw a graph in the income-leisure time space showing a wage increase that leads an individual from one interior solution to another. Identify clearly on your graph the income and substitution effects on hours worked of the wage increase, as well ..
Why do the value choices (entry value, exit v-alue, and historical cost) fall within the domain of accounting theory?
Because L fell from 41 to 31 years, what will happen to the present values of the earnings streams from the two jobs? Why does this happen?
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