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Q1. You bought two new CDs with the last $30 in your checking account, and your next payday is on Monday. What is the opportunity cost of these CDs? The difference between the cost to produce the CDs and the price you paid for them spending $30 on two new CDs spending $30 on dinner and a movie with your friends this Saturday night knowing you are the first of your friends to have these CDs.
Q2. When a country allows free trade, the before-trade domestic price of pineapple in the United States is $500 per ton. The world price of pineapple is $600 per ton. The United States is a price-taker in the pineapple market.
Do protectionist policies benefit producers, consumers, workers, or the government
Disposable personal income equals personal income and two factors are the keys to determining labour productivity
Profits associated with polluting for Friedman Inc. are π = 40Q - 2Q2, where Q = pollution emitted (in tons), and profits are measured in dollars.
Calculate whole expected convenience from each restaurant option and also compare?
there is an incumbent monopoly in a market. A potential entrant may enter. Draw the game tree describing the situation?
Describe the difference between Economic contraction and Economic expansion
School tries to discourage Twinkie consumption by raising the price to $.40, by how much will Matt's mother have to increase his lunch allowance to provide him.
Consider a small economy in which consumers buy only two goods pies and tarts. In order to compute the consumer price index for this economy for two or more consecutive years.
If most businesses in an industry are earning a 13 percent rate of return on their assets, but your firm is earning 23 percent what is your rate of economic profit
Solve for the equilibrium interest rate. Solve for equilibrium value of consumption and investment.
What is the average fixed cost of producing 4 units of output and What is the marginal cost of producing the third unit of output.
A farmer has a production function f(L) where the input is capital (L). The cost of this loan is L(1+i). The farmer also has an outside option (loan from family member) which generates a profit of A.
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