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You are considering buying a new car with a part of your student loan dollars as you really do not need the extra cash now. You have two alternatives with the following cost structures.SpeedyInitial cost = $20,000Annual operating cost = $8,000 Useful life = 5 yearsSalvage = $2,000TurboInitial cost = $16,000Annual operating cost = $6,000 Useful life = 4 yearsSalvage = $1,500
You want to evaluate these using only economic criteria. Ignore the impact of taxes and you will pay cash for the car.a. Which criterion should you use and why? What are you assuming about implementing the projects when you use this criterion?b. Given that MARR = 10%, which alternative should you choose?c. Assume that MARR is 10%. If you can get a car loan at 8% per year, would you take the loan or use your cash. Economic arguments only here (no numerical answers will be accepted).
Consider Moe. He only buys apples and bananas with his income. Moe says he considers apples and bananas both inferior goods. Using the concept of income elasticity, precisely explain whether he is reasonably describing his preferences.
3-defective electric toothbrushes were accidentally shipped to a drug store called Clean brush items along with seventeen non-defective ones.
Suppose a random experiment can be represented by 2 sets of events ,Ai and Bj, with each pair of sub events (A1 and A2, and B1, and B2) being mutually exclusive and collectively exhaustive.
As a Plant Manager your plant team informs you that they have found a way to increase the size of the manufacturing run from 10,000 to 18,000 units in increments of 2000 units. The set up cost is 150,000 and defects cost $120 for removal/repair.
This question refers to the estimated regressions in table 1 computed using data for 1988 from the United States Current Population opinion poll.
Write the function for the indifference curve and graph it when U=10 and U = 20. b) Write the function for the budget constraint and graph it.c) What are the utility maximizing amounts of X1 and x2 given the budget constraint? d) Would your answer..
Explain difference between profit maximization and shareholder wealth maximization and determine which of these is a more comprehensive statement of a firm's economic objectives?
The ticket cost Dave $600. To attend the concert Tim will have to take 3 days off from work where his daily compensation is $250. In addition Tim expects travel expenses to be $175 and the cost of a hotel for 2 days to be $275. What is the economi..
What is economics system? What are the types of economics system? Briefly explain each type of economics system by giving examples of nations that are close to each type
What is the profit maximizing (loss minimizing) level of output for Chan in the SR? ii) Calculate the total economic profit (or loss) that Chan. would receive at this particular level of output. You must show all of your work to r..
In general, the marginal cost curve is U-shaped as you learned in lectures and the textbook. However, exception exists. Please provide one particular industry as an example to illustrate that MC is not U-shaped. Explain briefly the shape of MC in ..
Find the Subgame Perfect Nash Equilibrium where rm 1 chooses its quantity in the rst stage, then in the second stage rm 2 makes its quantity choice. Find the equilibrium quantities, price, and prots. Which rm produces more in equilibrium Find the ..
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