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The cost of attending a private college for one year is $6,000 for tuition, $2,000 for room, $1,500 for meal, and $500 for books and supplies. The student could also have earned $15,000 by getting a job instead of attending college and 10 percent interest on expenses he or she incurs at the beginning of the year. Calculate the explicit, implicit, and the total economic costs of attending college.
Damage to the parked car was $5,400, and damage to the store was $12,650. What amount will the insurance company pay for the damages. What amount will Kurt have to pay?
Tucker's industrial engineers have informed management that hiring one additional worker will increase output by five units every hour
Compute point elasticities at prices of 5 and 9. Is the demand curve elastic or inelastic at these points.
llustrate what is maximum amount it would be worth to shareholders to elicit high CEO effort all time rather than low CEO effort all time.
Assume that over the last twenty-five years a country's nominal GDP grew to three times its former size.
Illustrate what would be the price also output. Illustrate what would be the firm's profit or loss.
If you were a manager at PepsiCo, would you try to convince your colleagues that introducing the new soft drink is the most profitable strategy.
Which curve shifts, if any, and in which direction. Elucidate the effect on equilibrium price and quantity for minivans.
He plans to marry at about the end of year 6 and will skip the investment contribution that year. How far below or above his $300,000 goal will he be?
In some states, mining for coal leaves large amounts of rubble, which poses flooding problems; causes land damage also is unsightly.
Calculate the profit maximizing labor demand and the resulting wage paid for the monopsonistic firm. Calculate the welfare loss compared to the competitive outcome.
Give a detailed explanation about how the engineer's income generation as described above affects GDP and GNP of U.S.
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