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Boone County Commissioners want to construct a road to provide another access to a new development to reduce emergency response time. The cost of the road is $350,000. It is estimated that it will cost $2500 to maintain the road the first year. Maintenance costs will increase by $300 each year after the first year. Every 25 years the County will replace the road with a new, identical system. The County commissioners want to know the Capitalized Costs of the road system if they can get 7% interest on their money.
2.The demand for a luxury good whose purchase would exhaust a big portion of one's income is: a.perfectly price inelastic b.perfectly price elastic c.relatively price inelastic d. relatively price elastic
In what kind of an economy does the government make all the decisions. mixed or laissez-faire or else is.
The demand curve demonstrate that price and quantity are inversely related. Briefly describe two justifications for this relationship. The supply curve demonstrate a positive relationship between price and quantity supplied.
1. Explain why you agree or disagree that Americans seem willing to sell their own privacy cheaply while simultaneously craving private information about one another. 2. Describe what role you think technology has played in these trends towards pri..
The statement best describes the economics of Caribbean South America the people of the region largely survive on subsistence farming while national industries focus on mining and oil drilling.
New York City's banking community served many of the functions of a central bank during large parts of the “displaced 19th century”
explain how rent seeking can lead to a drop in production of goods and services. What role might the underground economy play in lessening the drop in productive activities?
Despite the empirical evidence to the contrary, college decision-makers often believe that their price elasticity of demand is essentially zero. Is that right How important were price considerations in making your college decision Would a change o..
Suppose an airline flying on the Charolette-Chicago route has estimated the demand curves for three different types of customers: business (no advance purchase), leisure (7 day advance purchase), and discount (14 day advance purchase) travellers. ..
Determine the mariginal product. Determine the average product function. Find the value of L that maximizes QFind the value of L at which the marginal product function takes on its maximum value.
Neoclassical economics was 'a crucial stage in the creation of a genuinely scientific unified theory of economic behaviour'. Discuss.
Which of the following is true about profit maximization for a perfectly competitive firm A)Firms continue to increase prices to gain higher profits B)A firm maximizes profit differently in the short run and the long run C)Firms can lower prices to g..
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