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The concept of opportunity cost:
1. Estimate the opportunity cost of taking this class. Include direct expenditures such as tuition, books, and supplies, as well as indirect expenditures such as the value of the time spent in class. Don't forget to include the opportunity cost of time spent preparing for class and studying for exams2. Compare your opportunity cost calculation with those of a classmate. What factors cause the opportunity costs to vary??
Job A pays $30,000 a year. Job B is completely identical in all aspects except it is located in an area that has a 10% higher cost of living. In order to compete, Job B would need to pay. This is known as a 2. Explain the difference between ..
Consider a market where supply and demand are given Qx^s=-10 +Px and Qx^d= 56-2Px. Suppose the government imposes a price floor of $25, and agrees to purchase any and all units concumers do not buy at the floor price of $235 per unit.
Mark Martinko has been a class A racquetball payer for the last 5-years, and one of his biggest goals is to own and operate a racquetball facility.
If the local government can enforce a rent control law that sets the maximum monthly rent at $1500, will there be a surplus or a shortage, of how many units?
Elucidate how these economic concepts can be used to address the firm's problems and opportunities.
suppose that the disposal firm's state passes a law that limits waste disposal to 50,000 cubic feet per year, as a response to the monopolist's deadweight loss. Please calculate the change in the monopolist's deadweight loss.
In effort to decrease excess end of the model year inventory, Oaktown Ford offered a 1 percent discount off the average price of 4WD Escape gas-electric hybrid SUV's sold during the month of August.
Identify the profit maximizing quantity for the firm (Q M), price (P M), Marginal Revenue (MR), and Marginal Cost (MC) at this profit maximizing quantity. e. Explain in plain English why a smaller quantity than Q M does not maximize profit.
You are asked to propose a strategy tobring the economy out of recession. Your goal is to avoid inflationand yet bring the economy to full employment as rapidly aspossible. What will be your main strategy
Illustrate what are some advantages of a unionized organization. What are some disadvantages.
Explain who are the winners, who are the loosers, we can better evaluate the net impact, if any, on the overall economy.
If firms suddenly become more optimistic about the profitability of investment and planned investment spending rises by $100 billion, while consumers become more pessimistic and autonomous consumer spending falls by $100 billion, what happens to ag..
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