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Lindsay is a wedding planner. She earns her money by paying for all of the event costs up front and then charging the wedding couple a set amount per guest.
FIXED COSTS
Gaudy banquet hall rental - $10,000
Tacky flowers - $5,500
Cheesy DJ - $2,500
Outdated limo - $2,000
VARIABLE COSTS
Overcooked dinner - $10 per person
Watery drinks - $5 per person
Insincere thank-you cards - $5 per person
What is the total variable cost with 200 guests?
If a person needs to have their small intestine removed, how might this affect digestion?
In 2010 the country of Ikonomia has a current account deficit of $1 billion and a nonreserve financial account surplus of $750 million.
What functions of money are served by bitcoins? For you as an individual, what are the drawbacks or risks of bitcoins, as compared to using the U.S. dollar? Do you think that bitcoins can be useful for an economy, such as the U.S. economy?
a) Define elasticity of supply and briefly explain any five factors that influence the elasticity of supply. b) Explain why elasticity of supply for agricultural commodities is low.
Use the S-I model/diagram to analyze the impact of a rise in G. Answer the following questions:
The Baypoint Group (TBG) needs your help with a presentation for Academic Computing Services (ACS), a nationwide organization that assists colleges and universities with technology issues. ACS needs more information about the differences between t..
Based on your knowledge of the price elasticity of demand, do you think the deadweight loss of a soda/junk-food tax would be relatively large or relatively small? Why? Do you think taxing junk food would be a good idea? Based on your analysis, wou..
Explore Thomas Paine's theory (in "Common Sense") concerning the idea that mankind is naturally equal and that government should reflect this state of equality. How strong is Paine's argument? Is this a reasonable idea that can be applied in the..
Discuss on social diversity and business ethics and how has a more diversified labor force affected the corporate structure and economy?
What are some reasons that business outputs vary? For example why does production output vary? Explain the difference between common causes of variation and special causes of variation.
Is it price discrimination when a professional football team charges say,$150 per ticket for 50-yard-line tickets in the lower deck and $50 per ticket for upper-deck tickets overlooking the end zone?
In "The Consequences of Mr. Keynes," James Buchanan and Richard Wagner argue that the "unwritten fiscal constitution" of an annual government balanced budget helped restrain the growth in government, but the Keynesian argument for a balanced budge..
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