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Define the opportunity cost of getting your degree by analyzing what steps and economic factors a potential student must make when choosing to pursue an education. Given your answer, is getting a formal college education worth your opportunity costs? Why?
Camille's Creations and Julia's Jewels both sell beads in a competitive market. If at the market price of $5, both are running out of beads to sell (they can't keep up with the quantity demanded at that price), then we would expect both Camille's and..
What is the price of an hour of leisure? An hour of nonmarket work? What does it mean to say that leisure is a normal good? Why doesn't the market supply curve for labor bend backward?
You recently hired an economist to work with engineering also operations experts to estimate the production function for a particular line of office chairs.
Among which of the following U.S. policies and institutions may negatively influence U.S. long-run economic growth.
Explain why the total profit (from all sales) is still likely to lower with this pricing scheme than with perfect price descrimination despite fixed fee equal to the entire consumer surplus of a typical customer.
Offer one good or service that you think would be considered highly price elastic ,one that you think is highly inelastic and Elucidate why.
Compare the additional income Microsoft makes as it moves from 20 million to 40 million copies of Vista with the additional income it makes as it moves from 40 million to 60 million copies of Vista.
Now allow Foreign and Home to trade with each other, at zero transportation cost. Find out and draw a graph of equilibrium under free trade.
What will happen to price of old car taken as an inferior goods whose substitute is new car if income of the people rises.
q1. assume you are the chief economic advisor to the president of the united states and the president has asked you to
This deviation from the classical dichotomy and the Fisher effect is called the Mundell-Tobin effect. Explain how might you decide whether the Mundell-Tobin effect is important in practice.
Combinations of goods on the production possibilities frontier
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