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Consider Bob, he washes his car by hand rather than taking it to the local car wash. When asked why he washes it by hand, Bob explains "you should never pay for something you can do yourself." Evaluate the validity of Bob's statement, especially in terms of absolute andcomparative advantage.
A rise in the price of coffee beans, which is a material for a cup of coffee, is responsible for these observations.
Hypothetically, if Apple and Samsung decided to collude, instead of suing and counter-suing each other, what would the equilibrium prices and quantities be? Assuming each firm keeps the profit from its own market, what are these profits?
A printer's wage rate is $20, and the price of a printing press is $5,000. The last printer added 20 books to total output, while the last press added 1,000 books to total output.
One of United's biggest customer has placed a very large, heavy order. Its warehouse is in a location served by all transport modes, and the customer has directed United to ship the order by the mode with the lowest transport costs. In this situat..
What is the monthly payment if you ?nance the car over 4 years at the following interest rates: 0%, 4%, and 8%?
A monopolist is currently producing a level of output where Price = $110; Marginal Revenue = $10; Quantity = 100; Total Cost = $15,000; Marginal Cost = $10; Total Fixed Cost = $4,000. to maximize profits in the long-run, the monopolist should do.
Major events in our country and around the world tend to have economic advantages for some segments of society and disadvantages for others. Determining who benefits can be tough for negative events
suppose the market interest rate is 10 percent. Would you be willing to lend $10,000 if you were guaranteed to receive $1,000 at the end of each of the next 12 years plus a $5,000 payment 15 years from now? Why or Why not?
Write about the problem or issue as if you are explaining it to someone who has never taken an economics class.
Assume there are two services offered in economy: dance clubs and college education. Both require the use of limited resources, but not all of the resources used in each one can be readily transferred to the other.
Neoclassical economics was 'a crucial stage in the creation of a genuinely scientific unified theory of economic behaviour'. Discuss.
Determine which system, socialist or capitalist, feudalism or mercantilism, works better? Explain your reasoning? Also, which type of business gives the owner highest protection or the most incentive to succeed?
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