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If Robinson Crusoe can, either shoot 5-wild geese or catch 15-fish, on average, for every hour of labour effort. i.e. the opportunity cost of shooting one wild goose is three fish.Since he lives by himself, the frontier limits his consumption of fish and geese. Apart from trade with natives, can you think of one factor that can change the opportunity cost? Please explain.
Use the midpoint method to compute your price elastcityof demand as the price of compact discs increases. Compute your income elasticity of demand as your income increases.
Opponents of NAFTA point out that pollution is largely a free good in Mexico also that being free to pollute gives industries in Mexico an economic advantage over those in the U.S. also Canada.
Little Kona is a small coffee company that is considering entering a marketplace dominated by Big Brew.
If we accept the conclusion that librarians are more vital to the country than professional football players, explain why are librarians so poorly paid in comparison.
Without further use of Excel, illustrate what is the probability (in %) that a randomly selected orange will contain less than 4.2 ounces of juices?
Explain how the short-run Phillips curve, the long-run Phillips curve, the short-run aggregate supply curve, the long-run aggregate supply curve, and the natural rate hypothesis are all related.
All costs of exhibiting movies are fixed except for the $3.50 royalty payment you must make to the film distributor for each ticket sold.
Supply is the world supply. Elucidate the consumer surplus at the equilibrium price. What is the producer surplus.
explain how many smoothest sold by each firm, and illustrate what is the profit made by each firm.
All farmers in Trivialand are self - employed and sell all of their wares to Super Duper. Elucidate the costs incurred by all of Trivialand's busines.
Illustrate what is the dollar value of the deadweight loss when output level is produced? Illustrate what is the dollar value of the total surplus when output level is produced
Find a current article about one or more of the macro variables for a nation of your choosing, such as GDP, employment, inflation, or international trade.
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