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An Industrial Technology department just purchased new SPSS and Minitab software for $3000 now and annual payments of $500 per year for 6 years starting 3 years from now for annual upgrades. What is the present worth of the payments if the interest rate is 8% per year?
Dansby-Willig Performance Index, horizontal merger, Herfindahl-Hirschman Index (HHI), Perfect competition, brand myopic, diseconomies of scale.
If the government were to increase taxes on gasoline, what will happen to the total government revenue? Why? What are you assuming about the elasticity of the demand curve of gasoline? What is the formula for elasticity? Would the government make mor..
Beef has a positive income elasticity in Algeria. What would happen in the Algerian beef market if an economic recovery increased incomes?
Computer Colleagues, Inc. wants its name on the new computer engineering building planned for Somewhere University. For naming rights, the university requires that 60% of the first cost of the building and 20% of the maintenance costs be covered by a..
Gross Domestic Product involves a calculation of the total value of the goods and services generated within an economy in a stated or identified time period. The main difference between real GDP and nominal GDP is that nominal GDP does not consider h..
You gather data on US workers aged 22 to 55 from the Current Population Survey. You define the Average Hourly Wage as self-reported total annual labor income divided by self-reported total annual work hours. Describe in words how to interpret the coe..
Which of the following items are not considered resource costs even though they are counted as income paid to persons?
Now suppose that the interest rate falls to 50 percent, and the household decide not to borrow or lend at all. Is the household better off or worse off with the higher interest rate?
For a firm to minimize its costs with more than one factor of production, for every factor, the
The rule for maximization set forth in the text contradicts some honored traditional principles such as 'never give up' . Anything worth doing is worth doing well, or waste not, want not' explain the contradiction for each of these rules.
Suppose a war breaks out in the Middle East, which raised the price of gasoline in the United States. How would this impact the supply and demand for gasoline in the Unites States? Please illustrate using a graph and explain in words.
When quantity supplied increases at every possible price, we know that the supply curve has
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