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1. Identify a trade-off commonly faced by college students discuss the opportunity costs & benefits associated with it
2. If the demand for the product/service you are selling is inelastic, would you increase the price? Why or why not?
3. What type of consumer are you and how do you maximize your utility or satisfaction?
4. How can business establishments take advantage of the law of diminishing marginal utility?
Explain carefully why it makes better sense to shut down rather than continue to operate or to continue to operate rather than shut down, as the case may be. How do fixed costs play a role in your analysis? What is the difference between shutting ..
Is education provided by the government a public good? Explain your answer. Are the externalities associated with common resources generally positive or negative? Give an example of common resources. Is the free-market use of common resources general..
Suppose the government imposes an excise tax of $10 on a market. Suppose further that the price elasticity of demand for the good is 0.9 and the price elasticity of supply is 0.3. Everything else held constant, the sellers will bear _____ percent of ..
Due to the global economic slowdown, we were benefiting from relatively low oil prices. But because of the instability of the Middle East and the slowing of the global economy we are seeing oil prices fall. But when the global economy fully recovers,..
When I'm A GoldMiner chooses what quantity of gold each of it's mines will produce over the next 12 months, this quantity, along with the prices prevailing in the market for output and inputs, will
The null hypothesis regarding a contingency table with 6 rows and 4 columns should be rejected (at 95% confidence) if the test statistic is greater than
The five dollar Burger Joint gift card that your friend gave you for your birthday expires today. You can either use the gift card to buy yourself dinner at Burger Joint or you can stay home and eat a delicious home-cooked meal. What is the opportuni..
Explain the process of doing a research paper; and how will the research be conducted for a ten page paper on homeland security
Open market operations are the main technique used by central banks to control the size of the monetary base. In Canada, open market operations involve:
What is an example of an experiment or data that has two factors. Provide details (what is being measured and the number of levels) of the levels for factor
What is the four-firm concentration ratio (CR4)? What is the Herfindahl-Hirschman Index (HHI)? How do these two measurements differ? How are they similar? Calculate the CR4 and the HHI for the following two situations:
What are the legal requirements in order to comply with the fair labor standards act with regards to full time employees and those that work 10 to 20 hours
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