Identify the highest valued alternative courses

Assignment Help Microeconomics
Reference no: EM13223149

One of the lessons of economics is that "there is no such thing as a free lunch."
That means that businesses, consumers and whole societies face tradeoffs whenever they make a decision.
Explain a decision that you have made at work or concerning your career.
Identify and explain the tradeoffs you faced.
List the alternatives, identify the highest valued alternative, and explain the particular course of action you chose.

Reference no: EM13223149

Questions Cloud

Explain how a linear sequence of amino acids : Describe how a linear sequence of amino acids gives rise to the three-dimensional structure of proteins. Detail the significance of this structure, how it may be modified, and the results of such modification
How to maximize revenues from sales of the highlander : you are a division manager at toyota. If your marketing department estimates that the semiannual demand for the highlander is Q=100000-1.25P, what price should you charge in order to maximize revenues from sales of the highlander
Explain liquid water as a product : The higher heating value (HHV) of a fuel is its standard heat of combustion at 25 C with liquid water as a product; the lower heating value (LHV) is for water vapor as product.
What is the workstation cycle time : Balance the line so that only four workstations are required. Use whatever method you feel is appropriate.
Identify the highest valued alternative courses : One of the lessons of economics is that "there is no such thing as a free lunch." That means that businesses, consumers and whole societies face tradeoffs whenever they make a decision. Explain a decision that you have made at work or concerning your..
Explain the rate constant for a certain reaction : The rate constant for a certain reaction is = 2.90×10?3 . If the initial reactant concentration was 0.500, what will the concentration be after 19.0 minutes?
Did martha stewart commit the crime of insider trading : Did Martha Stewart commit the crime of insider trading when she sold her InClone shares on December 27, 2001?
What is michelles opportunity cost of producing potatoes : Suppose that two people, Michelle and James each live alone in an isolated region. They each have the same resources available, and they grow potatoes and raise chickens. If Michelle devotes all her resources to growing potatoes, she can raise 200..
Should same sex marriages be legalized in all fifty states : Should Same Sex Marriages Be Legalized in All Fifty States

Reviews

Write a Review

Microeconomics Questions & Answers

  To calculate the firm''s total revenues change

You are the manager of a firm that receives revenues of $40,000 per year from product X and $90,000 per year from product Y.

  Find a 95% condence interval for the population mean?

Suppose that population standard deviation is 0.56 (instead of 0.45), without doing calculations explain whether a 95% condence interval for the population mean would be wider than, narrower than, or the same widt

  What can the federal reserve bank do to keep output

Suppose that consumers become pessimistic about the future health of the economy. What will happen to aggregate demand, output, and employment in the short run. Use the AD/AS figure to illustrate.iii) Considering the macroeconomic effects of pessi..

  What is average variable cost

Your firm currently uses 69 workers to produce 300 units of output per day. The daily wage (per worker) is $100, and the price of the firm's output is $30. The cost of other variable inputs is 100 per day. Fixed costs are $2100 per day. What is to..

  Can revenue increase by lowering the price of thinks

A plastic surgeon thinks she can make more revenue by lowering the price of cosmetic surgery.If cosmetic surgery is an elastic service, is she correct in her assumption.

  Why do people hold their wealth in the form of money

Why do people hold their wealth in the form of money rather than another asset that will provide a rate of return higher that the rate on return

  Determine possible winner and loser from economic standpoint

Determining who benefits can be tough for negative events, but it's especially important in order to prevent the unscrupulous from recapitalizing on them. Consider the following events and trends, and determine possible winners and losers from an ..

  How are the beliefs reflected visually in the as-ad model

What do economists believe is the relationship between the price level (P) and real output (Y) in the short run and in the long run, and how does this answer differ depending on which time frame is being considered How are these beliefs reflected ..

  Downward-sloping industry demand curves

When a single seller is confronted in a market by many small buyers, monopsony power enables the buyers to obtain lower prices than those that would prevail in a competitive markets.

  What does it mean when the provider is a monopsonist

The provider is assumed to maximize profits. Determine the provider's equilibrium wage and how many nursing units it will hire. The provider is a monopsonist, which means it is the sole purchaser of labor in the market. Nurses are used by the clin..

  Explain rules of maximizing profits and minimizing losses

Why would suppliers be willing to accept prices that cover variable costs, but do not cover total costs? How does the answer depend on whether the decision is a short-run or long-run decision?

  How to identify the part of the business cycle

Identify the part of the business cycle that is characterized by:  The economy is at full employment.  The growth rate of aggregate demand exceeds the growth rate of aggregate supply. Recession. Recovery and non-inflationary growth.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd