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Joan can only choose to do one of three options with her spare time. First, she could go to see a movie (which costs $15 for a ticket) but Joan values at $30. Second, she could go to a friends party (which costs nothing) but Joan values at $20. Finally, she could take an extra shift at work where she will earn benefits of $30, but she has to pay $5 for public transport to get there.
What is Joan's opportunity cost of going to the movie? (In this case, you should think of the opportunity cost as including any direct costs incurred, as well as the value of the next-best alternative).
Explain the taxation implications of leasing these assets rather than purchasing them outright.
Dale goes to the opera and ice hockey games. Draw a budget line for Dale. If the government imposes a 25% income tax on her, what happens to her budget line and opportunity set?
What is the implication of the efficiency wage theory for unemployment? In what way are piece rates, commissions, and royalties, profit sharing, and stock options substitutes for efficiency wages?
What was the role of the oil industry in the economy both before and after the 1979 Islamic revolution in Iran?
In case your new more permanent shelter gets over run by zombies, or in case your band of survivors gets larger, you want to have a second location. Your team o
Based on the information on the previous graph, you can tell that ______ (one, two, three, four or five) consumers will buy Blu-ray players at the given market price, and total consumer surplus in this market will be ________ $?
Kennywood Amusement Park spends $75,000 each year in consulting services for ride inspection and maintenance recommendations. New actuator element technology enables engineers to simulate complex computer- controlled movements in any direction. Assum..
Describe possible government programs that are available for individuals falling under the poverty leve.
In 900 words or more needs to be general in nature and should reflect your beliefs, and not necessarily a statement of fact. Are your values based on family, health, achievements, wealth, job success, happiness, faith, love, or anything else that you..
One estimate of the price elasticity of demand for cigarettes puts it at 0.4: A 10 percent increase in the price of cigarettes
If a bank fails, what are the risks for the macroeconomy that do not exist for other businesses?
Show how the relative supply/relative demand (RS-RD) curve diagram may be used to illustrate international equilibrium in the Ricardian model. How would equilibrium change if the size of one of the countries doubled but labor productivity halved?
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