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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? Your response must be at least three paragraphs in length and no less than 200 words.
A printer's wage rate is $20, and the price of a printing press is $5,000. The last printer added 20 books to total output, while the last press added 1,000 books to total output.
A gasoline station very near a professional football stadium parks cars on its lot to make money on game days. Last year it charged $4.00 per car and parked 1,000 cars. This year it raised the parking price to $5.00 and parked 850 cars.
in the globalizing economy of the late 20th and early 21st century liberalized trade has been sought by way of regional
Are you concerned that automation may increase unemployment or underemployment in the United States and around the world? Why or why not?
1. Inclusive property rights provide an investor: 2. Lawyer Ayres and economist Levitt considered the net benefits of installing a LoJack from the society's standpoint positive, because the annual installation and service charges on this equipment..
Coffee and cream are complementary goods. An unexpected period of bad weather adversely affects the coffee bean crop. Use a supply and demand graph to illustrate the affect of this bad weather on the price and quantity of coffee.
identify at least five (5) fixed costs and five (5) variable costs OF the NFL (National Football League). If the business or economy slows down, discuss how the industry can control its costs based on the ten (10) costs you identified.
This line is aimed at the low end of the market and isn't constructed on a wheel base. Writing instruments. This line includes mechanical pens and pencils which are sold to the middle-market segment between the low-end products such as Bic and h..
question 1your boss who is the general manager of the pontiac rangers an adequate aa baseball team has heard that you
Draw the consumers budget constraint
What distinguishes Buddhist economics from modern economics in its approach to material wealth? To natural resources? With which approach are you more sympathetic and why?
Discuss and explain the limitations of the United States "supply side" policy in the war on drugs. Can we win the war on drugs? Describe your position on legalization.
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