How do the different economic systems capitalism and social

Reference no: EM13242213

1. Josephine makes $100 a day as a flower shop attendant. She takes off two days of work without pay to travel to another city to attend her sister's wedding. The cost of transportation for the trip is $180 round trip. The cost of her hotel stay is $99 per night and she stays for 2 nights. What is the opportunity cost of Josephine's trip to the wedding? Show your calculations.

2. How do the different economic systems (capitalism and socialism) differ in the way they answer these three questions - What to Produce? How to Produce? and For Whom to Produce?

Reference no: EM13242213

Questions Cloud

Open the statcrunch file housing_prices_categorical_factors : open the StatCrunch file Housing_Prices_Categorical_ Factors. The varia bles in the file are explained in the file description in StatCrunch. Look at the description of the variables in the file and the variables themselves and develop a "research q..

What theory of profit best reflects the performance of the : The flat-screen plasma TVs are selling extremely well. The originators of this technology are earning higher profits. What theory of profit best reflects the performance of the plasma screen makers?

Compute the magnitude and direction of the protons velocity : A cosmic ray proton streaks through the lab with velocity 0.80c at an angle of 49° with the +x direction, Compute the magnitude and direction of the proton's velocity when viewed from frame S'

How big will each firms accounting profit per unit be : A firm in a purely competitive industry is currently producing 1000 units per day at a total cost of $450. If the firm produced 800 units per day; its total cost would be $300, and if it produced 500 units per day

How do the different economic systems capitalism and social : How do the different economic systems (capitalism and socialism) differ in the way they answer these three questions - What to Produce? How to Produce? and For Whom to Produce?

Why the evidence did not improve the balance of trade : In the floating rate model, a change in the exchange rate is supposed to adjust NX(net exports), until the economy reaches an equilibrium state. However, evidence shows that the exchange rate adjustment process takes years.

Over the last year your boss has noticed that it would be : Over the last year your boss has noticed that it would be useful for your firm to understand how consumers behave when variables in the market change and how these changes affect the total revenue for your product. You have been asked to do an analys..

How much would willing to bribe rival not to advertisement : In a one-shot game, if you advertise and your rival advertises, you will each earn $5 million in profits. If neither of you advertise, your rival will make $4 million and you will make $2 million.

Calculate the work done on system : If the internal energy of a system increases as the result of an adiabatic process, Calculate the work done on or by the system in part (a) if its internal energy increases by 700J

User Account

All Pages