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Opportunity Cost
Please explain “opportunity cost” and give three examples from your own life. Please include and identify both “explicit” and “implicit” costs in your examples.
(Price Posting) A monopolist supplies to a market with (inverse) demand given by D(Q) = 100 ? Q. The monopolist has constant marginal cost c = 2. Compute the monopolists profit-maximizing supply choice and the corresponding mark-up over marginal cost..
How does the price faced by a profit-maximizing competitive firm compare to its marginal cost? Explain. When does a profit-maximizing competitive firm decide to shut down? When does a profit-maximizing competitive firm decide to exit a market?
Limited partnership arrangements alleviate which traditional problem associated with real estate investments.
Sketch a well labeled graph showing the impact of the tax. On whom does the tax burden fall-the team's, owners, the fans, or both.
Trace the evolution of work on the laissez-faire doctrine through two arcs. First those theorists who are trying to prove that the system is stable.
Compare and contrast Francis Edgeworth’s contributions to John Bates Clark’s contributions. Who do you feel made more significant contributions to modern economic theory?
Briefly describe how these firms would price discriminate: department stores, airlines, movie theatres
What characteristics do you generally see with firms in a perfectly competitive market? When will new firms enter the market under perfect competition? When will they choose to exit?
Assess the role of the Federal Reserve in mitigating the negative impact of the 2008 financial meltdown on the economy.
The probability of accepting the next wage offer is: Which of the following would be considered a real (as opposed to pecuniary) externality associated with migration? The longer the expected length of tenure on the job:
Illustrate what metrics would you propose to help in making the determination. Elucidate what historical data might be useful.
Homemakers are not included in the employment or labor force totals compiled by the Bureau of Labor Statistics household survey. They are included in the working-age population totals. Suppose that homemakers were counted as employed and included in ..
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