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You have won the lottery. There are two ways which you can receive your prize. You can either have 1 million in cash now, or you can have 1.2 million that is paid out as follows: $300,000 now, $300,000 in one year's time, $300,000 in two years' time, and $300,000 in three time. The intrest rate is 20%. How would you prefer to receive your prize?
Please put the quantity of Good X on the horizontal axis, and the quantity of Good Y on the vertical axis. Be sure to label your graph carefully and accurately. What is the slope of the budget constraint?
Sources used to research this person 4-5 non-web based (Periodical, date, pages, etc. MLA) with works sited on the last page. Do not reference the course text book.
Assume that the price was 5% lower and all other factors do not change. How much more would you buy each year? Using this information, compute the own-price elasticity of your demand.
Examine the models of oligopoly and create at least one recommendation for improvement. Describe your rationale.
A two-year-old child is eating raisins one at a time from a large box. Even though the child doesn't understand formal economic theory, he knows when to stop eating because he is full. Describe how this child has already mastered marginal analysis..
Explain how a firm values the contribution of workers to its profitability. Would a profit-maximizing competitive firm ever stop increasing employment as long as marginal product is rising?
Use Human Capital theory and describe the relationship between skill and unemployment. Naturally, economists and the public at big usually think of skill level having having an inverse relationship with unemployment.
What happens in the market for oranges if there is a hurricane that destroys the orange crop and explain why is strategic interdependence important for market structure of oligopolies?
Compute output, marginal cost, average cost, price, and profit at the average cost-minimizing activity level. Compute these values at the profit-maximizing activity level.
Explain the process for obtaining an annual filing report for a corporation currently registered in California
Canadian firms that buy machinery and equipment from US suppliers c.cross border shoppers from Canada who shop for goods in the US retired Canadians who live in Arizona and Florida during the winter months
Explain and discuss the differences between private goods, public goods, natural monopolies, and open-access goods.
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