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If you receive a free ticket to a concert, what, if anything, is your opportunity cost of attending the concert? How does your opportunity cost change if miserable weather on the night of the concert requires you to leave much earlier for the concert hall and greatly extends the time it takes to get home afterward?
The average total cost of operating a clinic is $800 per patient if the volume is one hundred patients, and $790 each patient if the volume is 110 patients. Find the total cost at each of these two volumes?
The exponent of D in the above equation is +0.75. What does this say about the effect of bus fare on the demand for auto travel? Is the demand for auto with respect to auto travel-time elastic or inelastic? Please explain.
Two partners who own Progressive Business Solutions, which currently operates out of an office in a small town near Boston, just discovered a vacancy in an office building in downtown Boston
One of the partners favors moving downtown because she believes the additional business gained by moving downtown will exceed the higher rent at the downtown location plus the cost of making the move.
People are more likely to clean up waste in their homes than at a community park because people expect the community park to be dirty.
Ellen wants to start a business. She is leaning toward setting up her company as a sole proprietorship, but she is also looking at other possibilities. Ellen has two major goals. First, given her limited personal wealth and eagerness to get starte..
A function of government is to regulate natural monopolies. Describe what is a natural monopoly and why it needs government regulation
The US treasury isn't the only issuer of bonds. Corporations also issue bonds that have future payment structures like U.S. Treasuries. Of course, unlike the federal government, corporations can go bankrupt, leaving their bondholders unable to col..
Explain what is meant by diminishing returns. From these costs curves explain when diminishing return sets in? Why and explain the relationship between ATC, AVC and AFC.
Given this information, what can you say, if anything, about the change in inflation in these two economies? Specifically, what happened to t (relative to t-1) in these two economies? Suppose tA ?t-1B. Given this information, ..
Write a report outlining what firms need to do in order to bring in the most talented people (from anywhere) and make the fullest possible use of their abilities.
What is a market structure? Define and discuss in detail the differences between a monopoly, an oligopoly, perfect competition and monopolistic competition.
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