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You have a free ticket to see Lady Gaga in concert, this ticket having no resale value. Pink is performing on the same night, which is your second-best alternative. The Pink ticket costs $180, and on any given day you would be willing to pay up to $190 to see Pink.
Assume there are no other costs of seeing either performer.
a. Assuming you could not get the Pink ticket for free what is your opportunity cost of your seeing Lady Gaga?
Suppose that you are on holiday in Russia, when suddenly you are arrested and accused of spying for United States.Your captors tell you that if you confess, you will receive a prison sentence of 2-years,
Write the equation for Total Revenue and write the expression for the market demand function - What is a natural monopoly?
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The private marginal benefit for commodity X is given by 10 - X where X is the number of units consumed. The private marginal cost of producing X is constant at $5. For each unit of X produced, an external cost of $2 is imposed on members of socie..
How would a change in the nominal exchange rate affect competitiveness in the short run when prices are sticky and business executives and policymakers are often concerned about the competitiveness of American industry
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Burger Doodle is the fast-food restaurant that processes average of 680 food orders each day. Evaluate the average product cost
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Government involvement in general scientific research has been justified on the grounds that advances in knowledge are public goods- once produced, information can be shared at virtually no cost.
Intermediate Microeconomics - Budget Constraint: Draw Alan's budget constraint with such promotional campaign.
Electrical power costs at a mine are estimated to be $850,000 in each of the next 12 years. Find out the present value of this expenditure at an interest rate of 11%.
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