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1. What is meant by the term "utility" and how does it relate to purposeful behavior?
2. Cite three examples of recent decisions that you made in which you, at least implicitly, weighed marginal cost and marginal benefit.
3. What are economic resources? What categories do economists use to classify them? Why resources are also called factors of production? Why are they called inputs?
4. Briefly explain the use of graphs as a way to represent economic relationships. What is an inverse relationship? How does it graph? What is a direct relationship? How does it graph.
the state power department argues that a 5 percent discount factor should be used in evaluating the projects, because that is the government's borrowing rate. the human resources department suggests using a 12 percent rate.
Make sure to comprise a history of the company or industry or the market in which it operates.
Illustrate what are the pros and cons of switching to a market for kidneys. Currently, people can volunteer to donate one of their two kidneys, and getting a kidney is dependent upon your need and prognosis and sometimes having a relative who is a..
Suppose someone tells you that, over time, free trade is helping capitalists and harming workers. What fact would you cite to challenge this statement?
A utility-maximising consumer changes their spending for goods X and Y so that:
Early in 2007, a survey of greenhouses indicated that the demand for houseplants was rising sharply. AT the same time, large numbers of low price producers started growing plants for sale. The overall result was a drop in the average price of hou..
What course of action do you recommend for it assuming it wants to raise revenue and total revenue by producing in the inelastic portion of its demand curve
Suppose that American households change their tastes such that they want to save more at every level of income.
Suppose that the economy is short of its full-employment (potential) level of GDP, assumed to be $14,000 billion, by $500 billion.
You purchased a commercial warehouse in March 2010. The cost of property was $200,000 which includes $25,000 for the value of the land. Determine the amount of depreciation that is allowed during the first year of ownership.
1. suppose that a nations production possibilities are as follows possibilitiesfood millions of tons per yeartractors
Determine the trade balance between the U.S. and China for the most recent five year period. Illustrate the trend over this period with a graph of the data
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