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Define opportunity costs, accounting costs and economics costs. Solve this problem:You must choose between sports training or working full time. If you choose sports training, you will have less of a social life. You will also pay $20,000 per year for training, but you will get a $15,00 grant. Food and rent is $10,000 a year. If you work full time, you wages will be $25,000, and you will have more of a social life. Food and rent wills till be $10,00 per year.What if the economic and opportunity cost of the sports training? Of working?
Read the following text and answer the questions below: Discuss the limitations of this model as an explanation of the effects of government expenditure on GDP.
Keynesian thinking dominated US (and other developed-country) policy-making well into the 1970s, although the "classical" counter-arguments kept up a steady criticism:
Suppose Bank of Canada (BOC) purchases $100 million worth of government bonds from a chartered bank. Assume BOC imposes 5% legal reserve requirement ratio to the banking system.
Assume the graph below represents the market demand for a patented prescription drug together with the marginal cost and average cost functions for producing the drug. Draw the marginal revenue function for this firm.
Explain how might this allocation under allocation get resolved via the means suggested by the coase theorem.
Illustrate what questions would you suggest to the CFO to ask to marketing department and what is your recommendation to the CFO.
how much juice will the costumer purchase in a perticular month. What is the elasticity of demand for juice.
the present market conditions for the Xerox corp by addressing the price elasticity of demand for the company.
Prepare an salary statement for the month utilizing the contribution format and the variable costing method.
Utilizing a separate supply and demand diagram for each part, illustrate the effect of the price of the yen in terms of dollars of each of the following.
If the costs of one of the goods rise by 5 percent, Illustrate what will happen to the demand for the other product, holding constant the effects of all other factors?
A firm that has total fixed costs of $40,000 sells its output for $250 per unit and has an average variable cost of $150. If the firm's cost and revenue curves are linear, explain how much output must the firm produce to break even?
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