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"When the British government tripled university fees for foreign students in Great Britain, about one-half of them left to study in other countries."
What is the implied price elasticity of demand by foreigners for a British education is (in absolute value). Explain.
Westside Plumbing and Heating Company is offered a contract for $100,000 to provide plumbing for a new building. The labor and equipment costs are calculated to be $60,000 for fulfilling the contract.
There are 6 tokens on the table. Two players alternate removing some of the tokens. In each move any player can either remove exactly one or exactly two tokens. Whoever removes the last token is the winner
Explain the difference between accounting profit and economic profit. Include discussion of the distinction between explicit and implicit costs and how they relate to economic cost and opportunity cost.
Discuss the tradeoffs a policymaker faces in choosing between larger fines, longer prison sentences, and greater monitoring in deterring crime. Give at least two reasons discussed in class why deterring crime through longer prison sentences may no..
Because of the change they created for taste and preferences and the higher income market, the gourmet coffee houses had a win-win in a period of falling wholesale prices and increasing retail prices
Assume you are an aid to a government official planning on some recently proposed excise tax on welfare of her constituents.
suppose that lin jun subscribes to the 88 yuan per month plan. (i) how much calling time would she consume? (ii) what would be her total benefit? (iii) what would be her buyer surplus (benefit less charges)?
Discuss how time costs affect health care demand, and speculate on this and possible other reasons for the lower observed per capita demand for health care in the western United States. Suppose a household does not carry health insurance. Can we co..
An asset is to be used in a project that will last 5 years. The MACRS property class for this asset is 3 years. If B = l0, 000 and S=3,000 at the end of year 5, determine the depreciation schedule.
Defenders of Communist economic systems may point out that customers pay lower values for certain goods because government imposes a limit on what manufacturer may charge.
IS THE SAVINGS INTEREST RATE OF INTERNET- ONLY BANKS HIGHER OR LOWER THAN THE RATE OF BANKS IN WHICH YOUR DEPOSITS(OR ANY LOCAL BANKS)?
If the two are generally not competing on price, are there any forms of non-price competition that might emerge? If so, describe them. Or would such other forms of competition also exhibit "kinked type behavior"?
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