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Minimum earnings
Suppose that an engineer is deciding whether or not to move to northern Virginia or remain at his current job in Milwaukee. It costs $10,000 for this person to move from Milwaukee, which includes both actual and "psychic" costs. If she plans on working 2 more periods and will make $110,000 in each in Milwaukee, what is the minimum earnings necessary to induce her to move to northern Virginia? Assume a .10 discount rate.
You have the following information concerning the production of wheat and cloth in the United States and the United Kingdom:
Describe the opportunity cost of good 1 in terms of good 2. Find out the opportunity cost of good 1 at the point where x1=1.
What is the present value of $300 to be paid in two years if the interest rate is 12%? What happens to reserves at Third National Bank if one person withdraws $2,000 of cash and another person deposits $750 of cash?
Use the following data for a pure monopoly to calculate the firm's-its profit-maximizing output level and produce price;
What are some of the positive externalities of education? Why may higher education offer fewer positive externalities than primary or secondary education?
Assume the new leadership in Congress decides to repeal some of the tax breaks granted to large businesses during the past several years.
In 1991, Brazil and Columbia united to form a coffee cartel and reduce coffee output. Suppose total costs for the cartel are: TC = 12 + 5Q + Q 2
How many cases of peaches will be produced per week during the growing season, and what will the selling price per case be if producers ignore the marginal external costs imposed on others?
Prepare a demand schedule for both demand curves and prepare them on an Excel graph. Calculate the marginal revenue for each.
Suppose you tested svereral Firestone tires also recorded their failure times. Decided taht failures are normally distributed.
You are the manager of a small U.S. firm that sells nails in a competitive U.S. market (the nails you sell are a standardized commodity; stores view your mails as identical to those available from hundreds of other firms).
When and why were the inflation and unemployment rates negatively correlated? When and why were the inflation and unemployment rates positively correlated?
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