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You are given a free ticket to see the nike mens basketball team play for the league championship. The Spurs are playing on the same night and is your next-best alternative activity. Tickets to see the spurs cost $40. on any given day you would be willing to pay up to $50 to see the Spurs Play. Assume there are no other costs of attending either Game. Based in this information, the opportunity cost of going to the nike mens basketball game is (CHOOSE the BEST ANSWER)
a) $0 b)$10 c) $40 d) 50
Consider again the case of a country that suffers an Ebola epidemic that reduces the population by 20%. (a) Given your answer for problem 8 in problem set 1, draw the Aggregate Demand and Aggregate Supply analysis (in the usual output-inflation graph..
What is the profit-maximizing price and output level? Solve this algebraically for equilibrium P and Q and also plot the MC, D and MR curves and illustrate the equilibrium point.
Based on your own experiences, extend the list of analogies between the human body and the economy as outlined in this chapter. Then, determine which variables in your list are stocks and which are flows.
q1. how short is the short-run production period?enlighten cost advantage of a firm operating at constant returns to
What are the short-run equilibrium values of the price level, expected price level, output, and unemployment rate. Illustrate what are the values of cyclical unemployment and unanticipated inflation.
Conduct original research on an American Economic History event that occurred between 1900 - 1960. (you cannot do the Great Depression or Prohibition) . I chose The Great Mississippi Flood of 1927, but my professor said " Your topic on the Mississipp..
Suppose that the economy that we are interested in modeling is not a small open economy, so that the macro variables that describe the external environment have to be treated as endogenous. What additional types of conditions do you think we would ha..
One of the elements of risk is uncertainty. Which one of the following best describes the type of uncertainty that risk involves? Risk can be classified as pure or speculative. Which one of the following is the best example of a speculative risk? Whi..
Gasoline prices typically rise during the summer, a time of heavy tourist traffic. A “street talk” feature on a radio station sought tourist reaction to higher gasoline prices. Here was one response: “I don’t like ’em [the higher prices] much. I thin..
Suppose there is a permanent increase in a country's saving rate. This increase in the saving rate will cause:
Think about how each scenario would affect the price of khaki pants. draw a demand supply graph and label the axes with the price and quantity of khaki pants. Next, for each scenario, draw the appropriate demand supply curve. Compare the new demand ..
part a instructions read the case study the case of the unequal opportunity by m. c. gentile 1991 julyaugust harvard
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