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If your tuition is? $20,000 this? semester, your books cost? $1,000, you can only work 20 rather than 40 hours per week during the 15 weeks you are taking classes and you make? $10 per? hour, and your room and board is? $5,000 this? semester, what is your opportunity cost of attending college this? semester? Assume that the board and lodging expenses will remain the same even if you do not go to college.
A. $24,000.
B. $26,000.
C. ?$21,000.
D. ?$29,000.
If a 5 percent change in the price of a good leads to a 10 percent change in the quantity? supplied, then the supply of the good is? ________ and the elasticity of supply is? ________.
A. elastic; 0.5
B. ?inelastic; 2.0
C. ?inelastic; 0.5
D. ?elastic; 2.0
The main reason firms may exit a market is because of:
What is difference between a change in supply and a change in quantity supplied? How the following factors will affect the supply curve? (your answer must be supported by a neat diagram):
The elasticity of demand for a product depends upon the.....- Manufacturers costs- availability of substitutes, -availability of raw materials- amount the manufacturer is willing to produce? WHY?
New York & Co. is considering a limited edition denim jacket. Because it is so special, the first few will sell for a very high price, the next for less, and so on. A curve on a graph is used to estimate the price of each jacket. The manufacturing eq..
q. bud owen operates buds package store in a small college town. bud sells six packs for off-premises consumption. bud
Assuming that budget stays same except for interest on debt for 10 years, what will be accumulated debt? What will size of budget be after 10 years.
At the nonaccelerating inflationary rate of unemployment (NAIRU):
Utilize Managerial Economics to make your case, and remember that the Senator has not had benefit of the course you are taking. demonstrate and document the trends in medical costs
q1. during the late 1980s wool prices increased considerably due in part to increased demand by china and the former
Illustrate what happens to wheat farmers and the market for wheat when university agronomists discovers a new wheta hybrid that is more productive than existing varieties? show graphically.
Sixty percent of the students in an introductory statistics class are female. 70% of the female students in the class are nursing majors, and 30% of the male students are nursing majors. If a student is selected at random from the class, what is the ..
There are only two consumers: Bill and Ted, and two goods: apples and bananas. Bill and Ted like apples and oranges. Bill is always willing to subsitute 1 apple for 3 bananas. Construct an appopriately sized Edgeworth box for them. Find the constrain..
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