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Should the club cover explicit and implicit costs? Imagine that you are asked to consult with a drama club that puts on a play every year. The club asks you: How much should we charge for tickets if we want to cover our costs? You begin by listing the club's explicit costs and implicit costs and then make a recommendation whether ticket prices should cover the explicit costs, the implicit costs, or both explicit and implicit costs. Give the club three examples of each type of cost. What is your recommendation for ticket pricing: should they cover explicit costs, implicit costs, or both? Why?
Suppose that the economy is currentlyat potential output. Also suppose that you are an economicpolicy maker and that a college economics student asks youto rank, if possible, your most preferred to least preferred type of shock
Draw linear PFF representing the tradeoff between hot dogs and buns with 120 million workers available.
The firm produced 800 units per day, it total cost will be $300, and it it produced 500 units per day, it total cost will be $275.what are the firm's ATC per unit at these three levels of production.
1. the demand function for a cola-type soft drink in general is q 20 - 2p where q stands for quantity and p stands for
Neilsen Media Research wishes to pretest a questionnaire to be mailed to many thousand spectators. One question involves the ranking of male and female college students
suppose a women marries her butler. after they are married, her husband continues to wait on her as before, and she conitues to support him as before ( but as husband rather than as an employee). how does the marriage affect GDP
There are three primary methods of inducing firms to emit the optimal level of pollution: standards, taxes and transferable permits. Compare and contrast these three techniques: describe each and explain its strengths and weaknesses.
monopsony1. briefly describe the conditions for monopsony.2. show that l quantity of labor is lower and pl is higher
Some airline executives have called for reregulation. Why might an executive of an airline prefer to operate in a regulated environment?
What is a government budget deficit How does a federal budget deficit affect the economy Howdoes it affect the level of investment and interest rates How doesit affect the individual consumer
The forecasted demand for fudge for the next four months is 140, 160, 90, and 70 pounds. What is the recommended production rate if the level strategy is adopted with no back orders or stockouts
draw a supplydemand diagram of the market for loanable funds in the u.s. use the interest rate as the price of loanable
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