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Jamal has a very flexible summer job. He works every day but is allowed to take a day off anytime he wants. His friend Don suggests they take off work on Tuesday to go to the amusement park. The admission charge for the amusement park is $15 per person, and it will cost them $5 each for gas and parking. Jamal loves amusement parks and a day at the park is worth $40 to him. However, Jamal also enjoys his job so much that he would actually be willing to pay $5 per day maximum to do it.
If Jamal earns $20 if he works, what is the cost and benefit of going to the park? Should he go to the amusement park?
Suppose a decision makers utility function can be described by U(w)=w^0.5. What is the expected utility of this investment?
Could each firm face a demand curve that is not perfectly elastic? How profitable do you expect coffee shops and gasoline stations to be in the long run?
To maximize profit in the face of uncertainty, firms should produce the output where:
A student makes the following argument: A price floor reduces the amount of a product that consumers buy because it keeps the price above the competitive.
Where do buyers look for your product or service? What do you competitors do, and how can you learn from that and/or differentiate?
dr. fine and dr. feelgood are the only two medical doctors offering immediate walk-in medical services in the town of
Fora sample of 12 trees, the volume of lumber (in m3 ) and the diameter (in cm) at a fixed height above ground level was measured. Compute the fitted value and the residual for each point.
Assume that a firm's analysis of its balance condition shows the following: PL = $10, PK= $100, MPL = 30, and MPK = 290. As a decision maker in this firm.
Discuss within your Learning Team, if you want, but this is still an individual paper, how and why the U.S.'s deficit, surplus and debt have an effect on the following: Tax payers Future Social Security and Medicare users
Could they have done anything differently? How did their work fit into the existing framework of understanding in their field, and how did it advance further understanding of the field?
Find the change in the equilibrium level of output when there is a $10 increase in net export spending and the MPC =0.50, 0.75, and 0.80.
Calculate ROE as Return on Business Assets + Financial leverage gain to ensure your calculations are correct. This serves as a useful checking mechanism.
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