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Question: Define marginal cost and marginal benefit In New State, the bottling law requires that people get a refund of five cents when they return an empty bottle or can. Why does the state pay people to return bottles? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.
What is his total opportunity-cost - Show your calculations. Is he making a good decision starting his restaurant? Why or why not?
Zimbabwe devalued its currency in mid-2006 essentially turning a $20,000 Zimbabwe bill into a $20 bill. People were permitted only 3 weeks to turn.
If the marginal rate of technical substitution for a cost minimizing firm is 10, and wage rate for labour is $5, what is the rental rate for capital in dollars?
Suppose the price level is fixed, the MPC is .5, and the GDP gap is a negative $100 billion. To achieve full-employment output (exactly), government should:
When Judy's income increased from $130 to $170 a week, she increased her demand for concert tickets by 15 percent and decreased her demand for bus rides.
Plot the bakery's marginal revenue product curve (remember that marginal values are plotted at the mid-points of the respective intervals). Plot the bakery's marginal factor cost curve on the same graph
Why that is the pre-trade production points have a bearing on comparative costs under increasing cost conditions but not under conditions of constant costs?
Among the cast aluminum parts manufactured on a certain day, 80% were flawless, 15% had only minor flaws, and 5% had major flaws. Find the probability that a randomly chosen part has a flaw (major or minor).
Two automatic systems for dispensing maps are being compared by the state highway department. The accompanying breakeven chart of the comparison of these systems (System I vs. System II) shows total yearly costs for the number of maps dispensed pe..
What is Gross Domestic Product, and why is it important for national economies?
Total real rate of return
Suppose that the money market is initially in equilibrium for an economy. Describe with the aid of a diagram how market adjusts to an increase in money supply, an increase in real GDP
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