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If, for a specific project alternative, the discount rate equals the Internal Rate of Return, then the (discounted) Benefit Cost Ratio will equal unity (i.e., BCR=1.0). Define I
what are the tools for decision making
a firm has fixed costs of $60 and variable costs as indicated at the bottom of this page. complete the table and check your calculations
Define the Production Possibilities Curve and explain the basic economics concepts using the PPC. Explain the factors tht shift the PPC outwards
The marginal benefit of a refrigerant in a production process (the producer's willingness to pay for its use) is 100-5Q. The marginal damage from the use of the refrigerant on the
how might opportunity cost help to explain the pattern of international trade?
discuss whether marginal utility is a realistic piece of economy analysis in a consumer demand
You have decided to sell some goods at a local music festival. You have hired a sales stand for $500. Your cost per item is $3 and you will sell each item for $5. When you did your
What is return on investment? Return on investment is the profit earned by investing in some business or some project, for instance investment in stock exchange. Profit earned
What is meant by minimum wage? The minimum wage is the minimum rate a worker can legally be paid (usually per hour) as opposed to wages that are examined by the forces of sup
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