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It takes Betty 4 h to bake a cake and 2 h to knit a sweater. What is her opportunity cost of 1 cake in terms of knitted sweaters? (Enter the number only and express it in decimal form by rounding to the second decimal place.)
Phil realized a total return of 13.2 percent which is less than his expected return of 14.4 percent. What is the amount of his unexpected return? A portfolio is comprised of two stocks. Stock A comprises 65 percent of the portfolio and has a beta of ..
The behavioral economist Robert Frank speaks of the bounded nature of rationality in his 2008 interview (Challenge 2008) and discusses the axiom of the independence of irrelevant alternatives in rational choice theory.
The backward-bending labor supply curve includes each of these variables except
Hong Kong dollar, and the one-year forward exchange rate is 9 yen per dollar. Determine whether or not there is an arbitrage opportunity and, if possible.
Suppose the price of pork, an input in the production of hot dogs, increases. Which of the following accurately describes how the hotdog market is affected?
Consider a representative firm that produces using capital (K) and labor (N), but that owns no capital. The firm can hire workers in the labor market at a wage w and can rent capital market at a rental rate r. Find the firm’s optimal profits. Find th..
Explain how would each of these traps impact the production possibilities frontier.
Using the bond supply/bond demand model, graphically illustrate and explain the impact on i and q if the government were to simultaneously increase
What is the difference between laissez-faire capitalism, the command system, and the market system?
Consider the following demand and supply equations: Qd= 200-5p Qs = -100+10p. What is the price and quantity in equilibrium? What is the value of consumer surplus? What is the value of producer surplus?
In which direction will the scale effect change the firm’s employment of labor? c. Can you say conclusively whether the firm will use more or less labor? More or less capital?
Which of the following goods are likely to be classified as normal goods or services? Inferior? Defend your answer. Beans Tuxedos Used cars Used clothing Computers Books reviewed in The New York Times Macaroni and cheese Calculators Cigarettes Caviar..
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