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Opportunity cost :sample question
(households production)many households supplements their food budget by cultivating small vegetable gardens.explain how each of the following migth influence this kind of household production:a.both husband and wife are professionals who can earn high saleries.b.the household is located in acity rather than in a rural area.c.the household is located in a region where there is a high sales tax on food.d. the household is located in a region that has has a high property tax rate.
What do you regard as the main weaknesses of the Ricardian or Classical model as an explanation of the trade patterns? Why do you regard them as weaknesses?
Explain why do you think macro-economics applies to your organization. Give at least two examples of macro-economic actions that could affect your organization.
Compute the 10-year growth rate forecast utilizing the constant growth model with annual compounding, and the constant growth model with continuous compounding for each occupation.
Economists are in almost universal agreement that Free Trade is good for all countries. Explain why are they in such universal agreement.
Illustratr what can you infer regarding the own price elasticity of demand for Big G cereal.
You are a manager of a large but privately held online retailer that currently uses 17 unskilled workers and 6 semiskilled workers at its warehouse to box and ship the products it sells online.
Suppose the effects of a change in the money supply in an open economy under a flexible exchange rate system. How are your conclusion affected by the adoption of a fixed exchange rate.
Elucidate the excess of cost over the marginal price at the profit maximizing price-quantity combination?
Utilize the marginal productivity theory of labor demand to predict the impact on the firm's employment level of the following events.
UBS does not respond to its competition explain how much of its sales is it going to lose.
You are the administrator of hospital and situation has been brought to your attention.
Consider the Figure below that represents a perfectly competitive firm
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