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Question: Maria can read 20 pages of economics an hour. She can also read 50 pages of sociology in an hour. She spends 5 hours a daystudying.
a. Draw Maria's production possibilities fron8er for readingeconomics and sociology.
b. What is Maria's opportunity cost of reading 100 pages ofsociology.
3. What does it mean to have an absolute advantage vs. a comparative advantage in a particular task?
4. What does it mean for a nation to have the lowest opportunity cost of producing a good
Why the demand curve slopes downward and the supply curve slopes upward. How society manages its benefits from economic interdependence.
Suppose a store sells two brands of disposable cameras and the profit for these is a function of their two selling prices.
A deep-water oil rig has just collapsed into the Gulf of Mexico. Its blowout-preventer system has failed, so thousands of barrels of crude oil each day.
Identify a business decision that has become more data-driven, such as evaluating loan applications or trading stocks
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This problem is aimed at understanding the breakeven selling price for a company. Assume you have started up a company for an initial investment called “Invest”. The return you expect is WACC. The investment can be written off over the length of the ..
Consider a firm with total short-run cost function C=a+b.Q. New legislation means that it should pay an environmental tax which is the fixed sum, independent of whether it produces any output.
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The Kentucky Derby is held the first Saturday in May at Churchill Downs in Louisville, KY. The racing track is one and one-quarter miles. The winners since 1990, their margin of victory, the winning time, and the payoff on a $2 bet.
Construct a graph showing supply and demand in the electronic dog feeder market, using Microsoft Excel. How are the laws of supply and demand illustrated.
1. a poor person who has an income of 1000 receives 100 worth of food stamps. draw the budget constraint if the food
Choose a common myth associated with managed care. Explain to what degree the myth is based on facts, truths, and misunderstandings.
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