Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Juanita is deciding whether to buy a skirt that she wants, as well as where to buy it. Three stores carry the same skirt, but it is more convenient for Juanita to get to some stores than others. For example, she can go to her local store, located 15 minutes away from where she works, and pay a marked-up price of $112 for the skirt: Store Travel Time Each Way Price of a Skirt (Minutes) (Dollars per skirt) Local Department Store 15 112 Across Town 30 89 Neighboring City 60 70 Juanita makes $26 an hour at work. She has to take time off work to purchase her skirt, so each hour away from work costs her $26 in lost income. Assume that returning to work takes Juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. As you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling. Complete the following table by computing the opportunity cost of Juanita's time and the total cost of shopping at each location. Store Opportunity Cost of Time Price of a Skirt Total Cost (Dollars) (Dollars per skirt) (Dollars) Local Department Store 112 Across Town 89 Neighboring City 70 Assume that Juanita takes opportunity costs and the price of the skirt into consideration when she shops. Juanita will minimize the cost of the skirt if she buys it from the.
Elucidate problem which is posed by any comparison over time of the market values of various total outputs? How is this problem resolved.
Explain what is happening to both marginal productivity of each additional worker and the marginal cost of each additional unit of output.
A physical therapy clinic faces a demand equation of Q = 200 – 1.5 × P,
When economists attempt to predict the spending patterns of U.S. households, they will typically view the ____________ as a primary determining factor that influences the individual consumption choices that each will make. The step-by-step process of..
Assume an economy without government and without trade. Suppose the Consumption function is given by C=100+0.8Y, whereas I=50. What is the equilibrium level of income in this case? What is the level of saving in equilibrium?
Illustrate what would be the best advice to give him knowing which this is his only source of income.
q.representative consumers have the utility function ucls lnc ln1- lsrepresentative consumers have labor endowment of
q.what are the informing factors of global interdependence including the economic factors political dynamics and
The unintended consequences of raising minimum wage from $8 to $12 per hour will create more unskilled unemployment in the economy. True or False, explain. The unintended consequences of raising minimum wage from $8 to $12 per hour will create more u..
Calculate the percentage change in nominal gdp, real gdp and the gdp deflator in 2008 and 2009 from the preceding year. for each year identify the variable that does not change. explain in words why your answer make sense.
A small country imports industrial goods and exports agricultural goods. Both industry and agricultural are perfectly competitive. A new minimum wage law raises wages in industry but not in agriculture. However, all workers displaced from industry as..
Suppose a society consists of three cities (A, B , C. ) with populations of 99,000 , 51,000 , 6,000 people respectively. Suppose that the society has 15 doctors total. What cities will have how many doctors? If the number of doctors doubles to 30. Ho..
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd