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Residents of a town take turns driving a water truck to a fire hydrant in a nearby town. They fill the truck with water and then haul it to a storage tank. Last year truck fuel and maintenance cost $3180. This year the residents are seriously considering spending $100,000 to install a pipeline from the nearby town to their storage tank. What rate of return would the residents receive on thir new water supply pipleline if the pipeline is considered to last,
Suppose that you are in the business of providing cat grooming services and you are a member of an association who has proposed legislation anybody wanting to offer cat grooming services would have to pay for extensive training and pass a series o..
As more potentially life-saving, but expensive drugs come to market, patients and insurance companies have difficult decisions to make. While in theory people would pay anything to save their own life or that of a family member, the efficacy of so..
The existence of only three big U.S. auto manufacturers is evidence that the market structure is anti-competitive and that antitrust laws are being broken. Measure this assertion.
Which of the following best describes what happens when consumer income increases? Which of the following best describes what happens when the price of oranges increases?If the government gives each consumer a tax reduction equal to $600 (i.e. increa..
In the early 1980's just as serious health effects were being noted regarding sugar consumption, Kellogg's changed the name of Sugar Pops to Corn Pops (the sugar content didn't change) and the name of Sugar Flakes to Frosted Flakes (still sugar co..
The council decides to allow a boat to fish in the lake only if its owner buys a fishing licence. To maximize total profit (of citizens and council), how many groschens should the council charge for a licence?
Describe why the following is an example of monopolistic competition: There are a number of fast-food restaurants in town, and they compete fiercely.
What are the main differences between microeconomics and macroeconomics? Provide an example of a microeconomic and macroeconomic phenomenon.
According to the computer industry what are positive and negative effects of either a sudden increase or decrease in the number of competitors on prices in long run.
Managerial decisions are affected primarily by microeconomic forces. By and large, managerial decisions are not affected by either microeconomic or macroeconomic forces.
Suppose the demand for total snuffbox production is given by Q = 1,100 – 50P. What will be the equilibrium in this marketplace.What will each firm’s total short – run profits be.
People expected that a tax cut was temporary, then this fiscal policy's effect on the economy will tend to be and the economy is at equilibrium at Point B. What would expansionary fiscal policy do
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