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News reports from the western United States occasionally report incidents of cattle ranchers slaughtering many newborn calves and burying them in mass graves rather than transporting them to markets. Assuming that this is rational behavior by profit-maximizing "firms," explain what economic factors may influence such behavior. Justify your answer.
1) What is the economizing problem? 2) What is subjective valuation?
The mean was $129,000 and the standard deviation $8,612. Compare the means and dispersions in the two firms.
Suppose John has an income of $120 per period and faces prices Px=2 and Pz=3. His goal is to maximize his utility, described by the function U = 10x^0.5 * Z^0.5. Calculate the utility maximizing bundle (X*,Z*) using the Langrangian method. Derive the..
Many programmers think object-oriented programming is a superior approach to procedural programming.
A piece of construction machinery costs $5000 and has an anticipated $1000 salvage value at the end of its five year depreciable life. Compute the depreciation schedule for the machine by: MACRS;
Economic laws studied in this unit tell us that as the price of some good rises
Discuss within your Learning Team how and why the U.S.’s deficit, surplus and debt have an effect on the following:
How to analyze: Adjusted for inflation, the price of oil increased from about $30 a barrel in 2002 to about $100 a barrel in 2008
If the family buys the 4-day pass and uses 2 days on this visit and 2 days on the next visit, what IRR is earned? (Answer: 35.7%)
You use money just about every day. What is money and what functions does it perform? How is the supply of money measured? Who influences how much liquidity is created or reduced in the U.S. economy?
An individual has an income of $1000 per month with which they buy the composite good with a price of $1 and food with a price of $2/unit of food. Draw the budget constraint for the individual with the composite good on the y-axis and food on the x-a..
The average total cost of operating a surgical room is $700 per case if the volume is 100 cases, and $690 per case if the volume is 110 cases. What is total cost at each of these two volumes? What is the marginal cost of another case within this rang..
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