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Economic rent represents
a. a loss to society since resource owners do not earn it
b. the difference between marginal revenue product and marginal resource cost
c. a loss to resource owners who earn less than the market value of the resource
d. any resource earnings less than that resource's opportunity cost
e. any resource earnings greater than that resource's opportunity cost
Jerry receives utility from days spent traveling on vacation domestically (D) and days spent traveling in a foreign country (F) as given by the utility U(D,F)=DF. The price of a day spent traveling domestically is $160 and in a foreign country $200. ..
Why would cash transfers typically be preferred by recipients over in-kind transfers? What are the pros and cons of each from a government perspective? Respond to at least two of your classmates.
Does federal revenue as a percent of GDP change with changes in tax rates? Explain with reference to the Laffer Curve concept.
f P falls below AC, what is result for firm? Firm loses money 16. In late-19th century, both firms and markets expanded. How did this impact competition in many markets.
Describe the Product, Price, Place, and Promotion of Porsche. Explain the current situation of the organization in the market (industry, market, and general environment analysis). Describe your recommended organizational structure.
Oil and gasoline prices are a concern in the United States. Why does this economic problem exist from a supply and demand perspective, what can be done to improve resource allocations.
Transactions involving interest include which of these elements?
The price elasticity of demand for Pete's chocolate chip cookies is 1.5. Pete wants to increase his total revenue. Would you recommend that Pete raise his cost or lower his cost of cookies. Explain your answer.
If there is an inflationary gap in the economy, what fiscal policy decisions would you make to bring the economy back to the full employment point? Explain why in each policy that you make.
Mary Carey, a clever 3360 student, has borrowed $125,000 at 8% from her parents. She is asking Dragon Kevin for $75,000 to start her own business. Kevin requires that the business make a 12% rate of return. If they both agree, what is Mary's before-t..
Elucidate why does sex discrimination seem to persist on Wall Street in spite of the negative publicity of lawsuits and monetary costs of settlement.
Why is popcorn so expensive at the movies? Argue both that a high price for popcorn is price discrimination and then argue that it is not price discrimination.
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