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Home has 1200 units of labor available. It can produce two goods: indigo and tobacco. The unit labor requirement of indigo is 3, while in tobacco production the unit labor requirement is 2.
What is Home's opportunity cost of producing indigo?
In the absence of trade, what would the price of indigo in terms of tobacco be?
Under the UCC, if no price is stated in an offer but the parties express an objective intent to contract, there is reasonably certain basis for providing a remedy in case of a breach, and a quantity term is included in the offer:
You were able to purchase two tickets to an up-coming concert for $100 apiece when the concert was first announced three months ago. Recently, you saw that StubHub was listing similar seats for $225 apiece. What does it cost you to attend the concert..
Terry has a demand function for oysters given by the equation q=.02m-2p, where m is income and p is price. Terry's income is $8,000 and he initially has to pay a price of $40 per oyster. Assume the price of oysters rises to $80. Calculate the substit..
Assume that you have a budget of $30 to spend on milk and cereal only. Graph the budget constraint. Be sure to put the quantity of (Qm) on the horizontal axis. What is the most you can purchase of cereal? What is the opportunity cost of three units o..
Income redistribution in the United States results in the income share of the____ rising and the income share of the___falling.
NAFTA has now been around for over a decade. Many jobs have been created through NAFTA, and many other jobs have been lost because of NAFTA. Nonetheless, proponents argue that NAFTA is, in the net, good for North America. Find at least one publicatio..
The optimal price for a monopolist facing different demand curves in two separate markets will be. People sometimes point to similar gas prices at competing gas stations as evidence of collusion when they could just be selling at market price. if thi..
A large Corporation constructed a small office building for their firm approximately 5 years ago. They financed it with a bank loan for $450,000 over 15 years at 6% interest with quarterly payments and quarterly compounding. The loan can be repaid at..
1. if the 4 firm concentration ratio of an industry is 75 what does it mean?2. explain in game theory how payoff
Identify and describe (5) key characteristics of a monopolistic competition market. Define a cartel. Give 3 examples of a cartel in the business world.
A hospital anticipates that spending $100,000 on an advertising campaign will increase bed days by 1,000. The marketing department anticipates that each additional bed day will yield $2,000 in additional revenue and will increase costs by $1,200. Sho..
Hunt Taxidermy, Inc., is concerned about the taxes paid by the company in 2015. In addition to $43.1 million of taxable income, the firm received $3,035,000 of interest on state-issued bonds and $1,100,000 of dividends on common stock it owns in Oakd..
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