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1. What are the differences between variable and fixed costs? Please. Give examples. What are the implications for value-creating decisions?
2. What are the differences between and accounting and economic profits? Give examples. What are the implications for value-creating decisions?
Explain the differences between external costs, private costs, and social costs and how the presence of external costs leads to market failure.
10 consumers, ranked by their value for a network product v = 1...10, are deciding whether to connect to the network. If there are n people on the network, including oneself, then a consumer's willingness to pay equals n x v. What is the highest pric..
Adam Smith favours a policy of laissez faire in managing economic activities. Why? Economics deals with the efficient use of resources? Why? Marginal analysis tends to produce more optimal outcomes when working with scarce resources. How?
Are there any good reasons to have 12 Federal Reserve banks scattered around the country rather than having everything run by the Board of Governors in Washington, D.C.? What are the costs and benefits? Suppose that you thought that someday you would..
Your state is considering purchasing a new snow plow of the options shown below. The state uses an MARR of 10%. What is the Rate of Return for each option? What is the Rate of Return of the additional investment for the more expensive option? Which s..
Does a lump sum tax cause the after tax consumption schedule to be flatter than the before tax consumption schedule.
Research each country, using such resources as the CIA World Fact Book, World Bank data, and World Trade Organization. Research its economic, political, and cultural development.
Explain why is the supply of physicians a major cause of concern. What is the quintity of aprtments demaneded, and what is the quanitity of apartments supplied.
While there are many similarities in the engravings by Henry Pelham and Paul Revere, there are also significant differences. Carefully examine both documents an
When the United States recovers from a recession, this tends to shift Germany's AD curve _________________, which _____________ Germany's price level. Assuming that the increase in the value of the dollar in the foreign exchange market has a greater ..
Suppose that in a week the price of Greek yogurt increases from $5.00/lb to $5.25/lb. At the same time, the quantity of Greek yogurt supplied increases from 100,000 lbs to 125,000 lbs. What is the price elasticity of supply for Greek yogurt?
What challenges are educators facing in the learning environment when dealing with bullying?
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