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Suppose a persona quits a job paying $40,000 per year and starts a business with $100,000 withdrawn from a money-market account earning 8 percent per year. The implicit cost of the business is ____ for the entrepreneurs time plus _____ for the entrepreneurs funds.
What is the law of supply, and what are the factors that cause shifts in supply? What is the law of demand and why is it important?
Discuss the potential risks of using Web 2.0 tools. Provide several examples. What are the benefits of "build-to order" to buyers and sellers? Are there any disadvantages?
Draw the labour supply curve for taxi drivers in New York City based on this estimate. Note: Since you have no data on wage rates and hours of work supplied, you are expected only to provide a rough approximation of the supply curve.
Write down the some real-life examples of monopolistically competitive, oligopoly, and monopoly markets.
Someone claims that the "bargaining" hypothesis appeared in the literature because of a significant flaw in the "comparative advantage" hypothesis. After you briefly explain what these two hypotheses stand for, identify what..
You're the GM of firm that manufactures PC's. Demand for them has dropped 50%, thanks to soft economy. The sales manager has identified only one potential client, who has received many quotes for 10000 new PC's.
Express output per worker (y=Y/L) as a function of capital per worker and the natural rate of unemployment and write an equation that describes the steady state of this economy.
What would happen to each of the following economic varibles if the government increased the money supply by 20% per year: M1, interest rates, inflation and wages What impact does increasing or decreasing the printing of money have on the economy ..
What is the Exy and what does that number mean and what is the relationship between these two goods - What would happen to total revenue with the price reduction
Compute the physical units of production. Compute equivalent units of production for materials and for conversion costs. Determine the unit costs of production.
Find out the total revenue (TR) and total profits in terms of Q. At what level of output (Q) are total profits maximized? What price will be charged? What are total profits at this output level?
Suppose the bottle water industry is competitive. If a bottle of water supplied by the typical firm has an ATC of 20 cents and the market price if 30 cents.
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