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Peter can produce either a combination of 20 bow ties and 30 neckties or a combination of 35 bow ties and 15 neckties. If he now produces 35 bow ties and 15 neckties, what is the opportunity cost of producing an additional 15 neckties?
Cell phone data plans are most useful when used with a smartphone, and smartphones are most useful when used with a data plan. As the price of data plans falls, the demand for smartphones will:
One of the explanations of this change in the natural rate of unemployment is based on the demographic pattern in the U.S. How does the demographic pattern affect the natural rate of unemployment?
Where Q is the production and V is the number of employees working 8 hours a day
suppose that an economy consumes all salary income and saves all capital income. Describe if the factors of production earn their marginal product.
What are the costs and benefits of outsourcing? Can outsourcing be used to avoid tariffs and other trade restrictions? Provide 2 real-world examples of outsourcing by a firm(s) which competes globally. Need citations
There are about 34,000 full service restaurants in Miami-Dade County, Florida with a population of about 2.5 million. What type of market structure is the restaurant business in Miami-Dade County? Are there submarkets with distinct characteristics? E..
Contingency Plan 1 is a new process introduced by an international health team that guarantees the removal of pathogenic microorganisms in the town’s water system. Evidence has revealed that Contingency Plan 1 will lower the influenza rate to four ne..
What are the costs and benefits of achieving price stability relative to output stability?
Bel's Bakery (BB) is a family owned business. In 2010 it recorded a $3 million operating loss. Apparently, 50% of the losses stemmed from a failed acquisition. With short term interest rates at 5%, the manager (John) convinced the owners to expand it..
With the help of a diagram, discuss the effect of price ceiling imposed by the government on the welfare to the society (consumers' and producers' surplus) If the ceiling price were set below the equilibrium price.
Prestige pricing objectives emphasize
Sources of inputs into the microeconomics in context model include:
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