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Me and my friends want to stay at a spa. The spa charges $60 to enter for one day, $100 to stay for 2 days, and $130 to stay all 3 days. Me and my friends want to spend lots of time at this spa, but I don't want to pay a lot of money. But, marginal costs, shows me and my friends that 3 days is probably the best value.
What is the average cost per day for the 3 day spa visit? $_______ per person
What is the marginal cost of later adding the 3rd day extension? $_____ per person
There are 5 friends in my friend group, what would be the marginal cost of switching from the 2 day spa getaway to the three day extension?
Determine his optimal choice of consumption and leisure and calculate the marginal product of each labor type.
Evaluate both the advocates' position and the critics' position. Determine which position you support and defend your position.
Sarah's new utility-maximizing combination of books and movies is five movies and four books. Given information, can we say whether movies are a normal good?
Ryan expects to deposit $1,000 now, $3,000 four years from now, and $1,500 six years from now in an account that is earning 12% per year compounded semi annually through a company-sponsored saving plan. What amount can he withdraw ten years from now?
Discuss some of the drawbacks of morbidity indicators. In what ways do investments in health contribute to economic development?
To what extent is the economic crisis a global phenomenon? What are the main impacts of the economic crisis on the leisure industries?
Despite a recent improvement in EU growth (last year GDP growth was 2.9%) there are concerns over fundamental problems with the EU economy.
Does the principle of “increasing opportunity cost” hold in this nation? Explain briefly. (Hint:What happens to the opportunity cost of bread—measured in number of ovens—as bread production increases?)
The problem is belongs to Economics and it is explain about calculation of wage rate for number of workers being hired by a firm with the above marginal revenue product and average revenue product curves.
What is the direct or indirect connection to the larger U.S. Government case with Indians over tribal trust funds? One to two pgs long.
Then use the questions in #2 and #3 to write Part 2 of your paper. You may also find page 36 helpful in reviewing the key points of what to do and not do when creating urgency for change.
A production function is given by F(K,L) =2L(K)^1/2 (note output q= F(K,L)). In the short run K=25, and r =5, and wages are given by w. Derive the average cost, the marginal costs, and the total cost of this production function. Does it possess the p..
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