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Assignment:
Present an important decision you've made in the past five years (e.g. getting married, enlisting in the French Foreign Legion, etc). Then provide for the class the marginal benefits and the marginal costs associated with this decision. Also, provide an example of a sunk cost that was irrelevant to the decision.
This is a question from my general economics class. Can anyone help me with thinking of real-life decisions that are examples of marginal benefits and marginal costs? I am really confused about this. For reference, I am a college student.
Suppose the group announced their next tour was going to be their last. What effect would this likely have on the demand for and price of tickets?
People take some measures to avoid becoming victims of crime. Can the probability of becoming a victim be reduced to (virtually) zero? If so, why don't people eliminate that probability?
General Motors (GM) produces light trucks in several Michigan factories, where its annual fixed costs are $180 million, and its marginal cost per truck is approximately $20,000. Regional demand for the trucks is given by: P = 30,000 - 0.1Q, where ..
Explain what is meant by the terms, vertical equity, horizontal equity and the Ramsey rule. A city is considering imposing excise taxes on the following items to raise revenue to finance the construction of a new stadium for the major league baseball..
Why is it important to explore project possibilities? Define the bargaining power of suppliers. How can a supplier exercise bargaining power over a firm and provide an example of a supplier that would have bargaining power over a firm.
Why is domestic monetary policy ineffective in an open economy under a fixed exchange rate regime? Provide your explanations and definitions in detail.
Describe three key inputs (or factors of production) and fixed and variable costs involved in the production of your chosen product or service.
you have been hired as a consultant by your local mayor to look at the various market structures. your role is to
Under current law, most Social Security recipients do not have to pay federal or state income taxes on their Social Security benefits.
as the lead software engineer for a medium-sized hospital you have been asked to spearhead an effort to improve the
The Federal Reserve had to resort to non-standard methods to try to stimulate the economy the last several years in part because:
cool-aire corporation manufactures a line of room air conditioners. its break-even sales level is 33000 units. sales
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