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Use references and explain.
Air, preferably clean air, is an absolute necessity of life, yet it commands a zero price.
On the other hand gold jewelry is quite expensive, yet has no intrinsic value beyond its use as an adornment, or in some industrial applications.
How do you explain the price differential of air and gold?
what is the least-cost input-combination of labor and capital and how much output is produced with that set of resources?
Why risk averse consumers pay premium for insurance to convert an uncertain outcome to a certain one?
If he is looking to invest his $100,000 where he can get an inflation adjusted of 12%, what minimum rate of interest investor should shop for?
You are in the market for a new car. Create an economic model modeled after the expectancy model you can use in buying a new car, the expectancy model can be.
Assume that the technology of producing widgets is that every company entering the market has the same total cost curve, as follows; TC=1000+5Q+0.1Q^2
Fix the prices of types .3 and .7 at 3 and 4, respectively. Draw this consumer's demand curve for griffie of type .5 as a function of the price of this type of griffie.
Illustrate the firm's profit-maximizing price and quantity on the graph. What is the profit-maximizing price and quantity for the firm
The pump cost $15,000, but it was used for 2 years before being put on the shelf. The accountants say the pump is worth $6000. The maintenance supervisor says that it will cost an extra $500 to recon?gure the pump for the new use and that he could..
In the discussion of the life-cycle hypothesis in the text, income is assumed to be constant during the period before retirement.
If you go to Florida, the airfare, hotel, food and miscellaneous expenses will total about $700. What's your opportunity cost of going to Florida?
ABC Block Co. may buy a new machine that has a first cost of $10K. It will produce benefits for each of the next 6 years of $3000 while requiring $1400.
Examine STARBUCKS compensation challenges and industry competition. Develop an incentive plan suitable for all participating members that encourages.
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