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Question
Professor VanBo makes $400 per day, or $2,000 per week, teaching economics at a college ??in New York. After equilibrating the benefits and costs at the margin, he decides to take ?three consecutive teaching days off without pay to fly to Atlanta to attend a concert of his ?favorite band, De Mand and the ?Shifters. The cost of transportation and lodging for the trip ?is $2,500. The cost of a concert ticket is $300.
??The opportunity cost of the professor's decision to attend the concert is $ ____________.
Tracy the manager at Ruby Red movie theater is extremely worried about concession stand area and how many concession stand items should be sold per day.
Define the Golden Rule level of capital. Find the Golden Rule level of capital per worker, output per worker, consumption per worker, and investment per worker.
How does collecting regular feedback on the performance of team members, from relevant sources, assist managers with regard to team development?
Determine the prime rate, the discount rate, and the federal funds rate and who controls these rates? What would you expect to happen in the general economy if these rates are all increased or Decreased?
SAR Publisher is a monopolist in publishing a textbook on Hong Kong economy. Besides the Hong Kong market, SAR Publisher also sells this textbook in United State.
Explain what would happen to the slope or position of the AD curve in the following circumstances.
In a market demand and supply equations are: The demand curve is given as: P = 68 - 2Q The supply curve is given as: P = 20 + 2Q. Assuming a perfectly competitive market, (Please show all your work):
1. Derive the aggregate expenditure function. 2. What is the spending multiplier in this economy?
Suppose the city decides to sell the permits and we are still in the short run equilibrium where the price is $2. What is the highest price a vendor would pay
Describe the point price elasticity of demand. What is the new point price elasticity if price is raised.
In 2008, the box industry was perfectly competitive. The lowest point on the long run average cost curve of each of the identical box produces was $4,
Please provide a thorough definition for each theory and explain all the components and fundamental conclusions of each!
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