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Question: Scarcity Problems"
Watch this short video: Scarcity: The Basic Economic Problem to help you think about this week's discussion
Start your discussion by responding to these questions:
• What is a scarcity problem you've experienced in your work or home life?
• What system could you use to manage your scarcity problem?
• I live on a very tight budget I chose to use a lot of coupons when I shop for groceries, makeup and toiletries. I set a budget out for myself for a certain amount of money and then I take my time and use my coupons for everything that I buy. When I get to the check out counter sometimes I get money back from using my coupons because the item that I'm buying might be on sale that week and I have a coupon for that same item. It takes a little longer to shop but in the end when I walk out the store with everything I written down on my grocery list and extra cash in my pocket from my savings for that day
cool-aire corporation manufactures a line of room air conditioners. its break-eve sales level is 33000 units. sales are
Describe the method of contingent valuation for measuring the economic impact of crime. What are the advantages and disadvantages of this method relative to trying to measure the cost of crime directly
Analyze the externalities concerning optimal levels of pollution and make at least one recommendation for the most economically viable way to proceed over the next 20 years. Explain your rationale.
Suppose the firms collude to form a cartel. What price will the cartel charge? What quantity will the cartel supply? How much profit will the cartel earn?
Using data you can find at the World Bank website (www.worldbank.org; look under "Data and Research" then "Data by Topic") on the CBR and the CDR.
debbie listens only to frank zappa or weird al yankovic. she currently buys 10 zappa and 20 yankovic downloads per
Crazy hours Construction purchased a new loader for $280,000 using a 25 annual end of year payment plan at 10% interest. At the end of 10 years they decided to refinance the loader with a new company with 15-year loan.
The government dislikes smoking, and likes tax revenue. If they wanted to increase the after-tax price to $10 per pack, what size of excise tax must be placed on sellers? How much revenue will it raise? What will be the Deadweight Loss?
Kelson Electronics a manufacturer of DVRs, estimates the following relation between its marginal cost of production and monthly output: MC=$150+0.005Q A. What does this function imply about the effect of the law diminishing returns on Kelsons short-r..
Discuss whether you are for or against free trade. Start by explaining what it is and who does and does not benefit from it. Use real life examples to explain your case.
If the interest group theory applies to hospitals, explain why does not it also apply to nursing homes? Would a doctor owned, for profit hospital be as attractive to physicians as a nonprofit hospital?
Find the Nash Equilibrium/a in the game below. Citizen's and Santander banks are choosing to keep their interest rate high, or lower it
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