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total hours hourstudying GPA hours working Income60 60 4.0 0 060 40 3.0 20 $10060 30 2.0 30 $15060 10 1.0 50 $25060 0 0.0 60 $300A. Calculate the opportunity cost of an increase in the numberof hours spent studying in order to earn a 3.0 grade poingaverage(GPA) rather than a 2.0 GPA.B. Is the opportunity cost the same for a move from a 0.0 to a1.0 GPA as it is from a 1.0 GPA to a 2.0 GPA?C. what is the opportunity cost of an increase in income from$100 to $150?
ASSUME THAT THE CONSUMPTION SCHEDULE FOR A PRIVATE OPEN ECONOMY IS SUCH THAT CONSUMPTION C = 50 + 0.8Y. ASSUME FURTHER THAT PLANNED INVESTMENT Ig AND NET EXPROTS Xn ARE INDEPENDENT OF THE LEVEL OF REAL GDP AND CONSTANT AT Ig = 30 AND Xn = 10.
A firm has standard shaped costs where the minimum of AVC is $15 at a quantity of 9 and the minimum of ATC is $45 at a quantity of 15. The fixed cost is $345. Draw a picture of the MC, ATC, and AVC for this firm specifically labeling the values for..
The best level of output for a monopolist in the short run is 500 units and is MR=MC. At this point Q=500, P= $11 and ATC= $8, so that the monopolist earns a profit of $3/per unit and a total profit of $1,500. Suppose that the AFC of the monopolis..
Suppose the number of employed people in an economy is 121,166,640. The unemployment rate in this economy is 10.4 percent, or .104, and the labor force participation rate is 72.5 percent, or .725. a. What is the size of the labor force
Suppose that a = 2, g = 0.02, the inflation rate is expected to be steady at pi = 0.03, and the tax rate is .40. What are the values of the equilibrium nominal interest rate and the before-tax expected real interest rate. what are the new values o..
calculate the exact elasticity of demand in the following examples: Then tell if, in each case, demand is elastic, inelastic, or unitary elastic. (a) When the price of a deluxe car wash rises from $10.00 to $11.00, the number of daily customers fa..
Using a combined interest rate per interest period (d) for computing present worth values (PW). What is the present worth of the $1,000,000.00. if the formula for d is d = i + f + (i × f) and the inflation rate (f)=2.3% and the interest rate (i) i..
If the price of good x fell to $1, what is the new optimal choice Explain what happens to the optimal choice as income increases. What is fundamentally different about the optimal choice when income is below $18(and Px=2) then when income is great..
The average consumer at a firm with market power has an inverse demand function of P = 10 - Q. The firm's cost function is C = 2Q. If the firm engages in two part pricing, what is the optimal fixed fee to charge each consumer
David Ding advertises on a local radio station. For the past six week, the manager has kept records of the humber of minutes of advertising that were purchased, and the sales for that week. Week 1, 2 minutes of advertising with $1,400 in sales.
Determine the effect of mandated health insurance profits be on the labor if the employees do not place any value on the benefits? What if they do place value on the profits?
Suppose that a state provides subsidies for a company to build plants that contribute to air pollution. Cleaning up this pollution causes the marginal cost of air cleanliness to rise by $210,000 at each degree of air cleanliness. What is the optim..
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