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Problem - Opportunity cost is the value of the next best alternative in a decision. Imagine that you have $150 to see a concert. You can either see "Hot Stuff" or you can see "Good Times Band." Assume that you value Hot Stuff's concert at $225 and Good Times' concert at $150. Both concerts cost $150 per ticket, but it would take you a couple of hours to drive to Hot Stuff's concert and you have to be in school (the next) morning for an exam. Good Times' concert is right here in town. Explain how you would assess the opportunity cost of seeing Good Times in concert. What is the opportunity cost of going to Good Times' concert?
Develop a response that includes examples and evidence to support your ideas, and which clearly communicates the required message to your audience.
In reviewing what you have learned in this course to date about persuasion, do you think Williams's opinion about culture in contemporary society would be the same today? Would you agree with the opinion that you think Williams would have today?
Compute the consumer surplus, producer surplus, DWL, and profits for the monopolist. Will the University continue to sell Badger Soccer tickets in the long run
Presume you make an annual contribution of $10,000 to your savings account at the end of each year for 8 years. If the account earns 6 percent interest annually, how much can be withdrawn at the end of 8 years?
Recently, there has been a lot of press about high lead content in toys made in China. This negative press can affect the foreign exchange rate in the United States dollar and Chinese yuan.
With that as a background, discuss compensation and benefit issues associated with the following workers: part time, temporary, independent, and flexible/telecommuting.
How does a successful IPO affect WHAT, HOW, and FOR WHOM the economy produces?
Compute how much more output there is in this economy immediately thanks to this improvement in technology.
Why are cigarettes and alcohol the most heavily taxed items in the US? Now, if the government increases the price of these items by 10%, how does this affect the stores that sell them?
Barry, a recent engineering graduate, never took engineering economics. When he graduated, he was hired by a prominent architectural firm. The earnings from this job allowed him to deposit $750 each quarter into a savings account.
Describe the business and its likely main competitors - How would you structure your advertising and customer service to differentiate your product/service and How easy would it be for new competitors to enter your market and erode your customer base..
Do you think consumers should be concerned? In your opinion, do the potential marketing benefits of CRM* databases exceed the potential downsides - or not?
the bioecological model of human development. the bioecological model of human development has four basic systems.
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