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Suppose that your University charges you separately for tuition and for room and board (10 marks).
a. What is a cost of attending University that is not an opportunity cost?
b. What is an explicit opportunity cost of attending University?
c. What is an implicit opportunity cost of attending University?
According to comparative advantage, in which industries would you recommend the country to specialize? Has the country specialized in your suggested industries? Are there opportunities for industry specialization that you see unfilled?
Elucidate Congress is considering reinstating a 10% investment tax credit in order to stimulate the economy.
The US put a specific tariff of €10 on European widgets. Calculate the new equilibrium quantity and price as well as the new Monopoly's profit.
The Cognitive evaluation theory is contradictory to reinforcement also expectancy theories.
Calculate the firm's optimal output and profits if prices rise to $65 per unit and also calculate equilibrium output, price and profit levels if the firm is typical in its industry.
School tries to discourage Twinkie consumption by raising the price to $.40, by how much will Matt's mother have to increase his lunch allowance to provide him.
Demand curve is d1, what will be the change in her revenue. If her demand curve is d2 what will be the change in her revenue.
Illustrate what would happen to the equilibrium price also quantity of lattés if the cost of producing steamed milk
How would equal educational achievement and equal income.
The developing country uses the $100 bank balance to import $100 worth of food from the United States (US).
A charitable university benefactor has decided to donate a large amount of money for student scholarships.
Illustrate what is the change in quantity of money that will eventually result. Assume that the currency drain in 0.15 and the desired reserve ratio is 0.05, and show your calculations
Who has the comparative advantage in what product. Once they specialize, how much does output increase. What are the terms of trade if the United States trades 1 can of soda for 5 units of clothing.
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