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The opportunity costs associated with the use of resources owned by a firm are:
a. externalities
b. implicit costs
c. explicit costs
d. sunk costs
What is the study of economics about?
On the day his son was born, a father decided to establish a fund for his son's college education. The father wants the son to be able to withdraw $4000 from the fund on his 18th b
Suppose that a household in a two-period model has income of $30,000 in period 1 and $25,000 in period 2, and the interest rate is 75 percent. Assume that the price of the good is
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applicability of the lewis model in developing countries
Which economic system is the best solution to handling a crisis of epic proportion?
Properties of indifference curve: Property I: Higher indifference curve gives higher utility. Explanation: Since all goods are non-satiated, larger consumpti
Some equipment that costs $1000.00 has a 5-year depreciable life and an estimated $50 salvage value at the end of time. Determine whether to use straight-line or SOYD depreciation.
Gasoline, insurance, depreciation, and repairs are all costs of owning a car. Which of these can be considered opportunity costs in the context of each of the following decisions?
How could utility theory help us understand the difference between a federal income tax and a federal sales tax on consumer consumption patterns?
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