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Discussion
Identify a personal economic decision that was driven by a behavioral bias rather than by pure rational behavior. Given your understanding of behavioral economics, how would your decision differ today?
An independent trucker has to choose one of the four possible combinations of inputs listed below. The two inputs are drivers and machinery. If he buys expensive machinery, then he can hire fewer drivers to deliver the same output. The input combinat..
Many rich developed countries (like countries of the EU or the US have suffered from inexpensive imports coming from Asia and other emerging countries. As a result, many industries and parts of sectors of our economies have disappeard since the onset..
We annually use 1,200 of a certain spare part that costs $25 for each order and has a $24 annual holding cost. Calculate the total annual cost for order sizes
Last year the US low-cost-carrier Spirit Airlines entered the Dallas-Chicago market. The average ticket price for all airlines servicing the route fell from $200 to $180. After Spirit’s entry, the number of passengers increased from 700 to 800 per da..
A chair manufacturer hires its assembly-line labor for $30 an hour and calculates that the rental cost of its machinery is $15 per hour.
What decisions go into the structuring of an organization? (2) How the organizational structure of a small business may differ from a larger business.
Explain why these points are unique on this indifference curve. Please use at least 3 properties of indifference curves and any of the assumptions regarding utility to justify your response.
Firms can shift their marginal cost curves to the right, resulting in higher outputs at the same or lower maximum-profit prices. This can be done by
A good is not depletable if:
The Fed wants to target a 3 percent inflation rate for the following year. Solve for the appropriate money supply to meet this target inflation rate.
Comment on its growth rates over the period of last ten years about 300 words.
Why are scattered plots necessary when investigating the relationship between quantitative variables?
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