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Post-Graduation Tradeoffs
After graduating from college, Jim had three choices, listed in order of preference: (1) move to Florida from Philadelphia, (2) work in a car dealership in Philadelphia, or (3) play soccer for a minor league in Philadelphia. Assuming he can't do any of the three choices simultaneously, his opportunity cost of moving to Florida includes
a. the benefits he could have received from playing soccer.
b. the income he could have earned at the car dealership.
c. both a and b.
d. cannot be determined from the given information.
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The government is contemplating to implement actions to prevent climate change. If no action is taken then climate change will happen with a probability of 20%. There is a probability of 100-20 that there will be no climate change. We will not be abl..
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A firm produces output according to a production function: Q = F(K,L) = min {9K,3L}. a. How much output is produced when K = 2 and L = 3? b. If the wage rate is $60 per hour and the rental rate on capital is $40 per hour, what is the cost-minimizing ..
Suppose the two newspapers merge. Illustrate what is the likely post- merger bargaining outcome.
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