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Question: Conduct a simple cost-benefit analysis deciding whether or not you should get a frozen drink and hang out with your friends at a local coffee shop. Make sure to use and define the following terms regarding your choice: scarcity, opportunity cost, cost, benefit, good, service, wants, needs. Identify the four factors of production associated with your local coffee shop by providing examples. Describe the potential positive and negative externalities associated with visiting a local coffee shop, buying a drink, and hanging out with friends.
What is the goal of a firm? What is the difference between revenue and profit? Why do we use the assumption that firms have the goal of maximizing
What are the factors of production? Please list them and share your thoughts and insight on what they entail and how they relate to the opportunity costs of your decisions?
A low-carbon-steel machine part, operating in a corrosive atmosphere, lasts 6 years, and costs $350 installed. If the part is treated for corrosion resistance.
An economy can produce good 1 using labor and capital and good 2 using labor and land. Graph the production functions for good 1 and good 2. Graph the production possibility frontier. Why is it curved?
What is the equilibrium outcome in this duopoly market - What is the maximum number of firms possibly in each market structure - What would be the equilibrium price and quantity if the market were purely competitive?
Compute efficiency costs of a monopolist facing aggregate demand X=100-2p, having a cost function C=2X. Calculate the efficient unit subsidy (that corrects inef
The following two graphs show the ratio of consumption/income and stock prices/income, and the four-quarter percentage changes in consumption.
Compare the work and formulas for computation of Expected Value, Absolute Risk Measurement, and Relative Risk for both projects.
Imagine a world with two individuals, a rich one denoted by R, and a poor one denoted by P. Both individuals consume gas, and their demands are given by QR = 100 - 0.5P and QP = 60-P respectively, where P is the price of gas, and QR and QP are..
Birth of Pixar: The short, happy tale of Pixar began when John Lasseter left Walt Disney studios in 1984 to join Lucasfilm, Ltd.
Your car gets 24 miles per gallon (mpg) at 60 miles per hour (mph) and 20 mpg at 70 mph. At what speed should you make a 500-mile trip.
In 1987, the price of Disney's stock rose to about $20 per share. How much were Eisner's options worth? How much would Eisner's 1985 bonus have been if Disney's net income that year were $100 million? If it were $200 million?
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