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Presume a country can produce a maximum of 5,000 jumbo airliners or 1,000 aircraft carriers.
1. What is the opportunity cost of an aircraft carrier?
2. What is the implied price of the carrier in trade?
3. If another country offers to provide one aircraft carrier in exchange for six planes, should the offer be accepted?
after her great success making pies with johnny depp in sweeney todd your friend helen b. carter has opened a
the widget market is competitive and includes no transaction costs. suppliers are willing to sell five widgets at 30
Two major areas of health care reform involve universal access and containing costs. List the specific options discussed in your text that work toward these reforms.
Explain what the results of such a move are for the graham cracker market
Suppose average movie attendance is 250 million tickets when prices are $7 a ticket and 200 million when prices are $9 a ticket.
Total soft drink demand increased, and Pepsi took a larger share of the demand. Why is the equilibrium of this game different from that of a prisoners' dilemma?
how many workers should Ms. Smith hire? (Ms. Smith should hire workers as long as their marginal revenue product (MRP) exceeds their marginal resource cost
The wage paid to engineers is $4000, while technicians, who are not as skilled as engineers, receive $2000. The firm's budget on a particular project is $28,000. How many engineers and how many technicians should be hired in order to maximize p..
Compute the physical units of production. Compute equivalent units of production for materials and for conversion costs. Determine the unit costs of production.
Explain graphically and verbally what happens to the market in the short run and in the new long run equilibrium if factor prices and demand are assumed to remain the same as before.
the following questions address some of the price and output decisions faced by firms other than those found in pure
A consumer has preferences represented by the utility function
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