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Question: Four methods of completing a tax return and the time taken by each method are with a PC, 1 hour; with a pocket calculator, 12 hours; with a pocket calculator and paper and pencil, 12 hours; and with a pencil and paper, 16 hours. The PC and its software cost $1,000, the pocket calculator costs $10, and the pencil and paper cost $1.
Which method is economically efficient if the wage rate is (i) $5 an hour, (ii) $50 an hour, and (iii) $500 an hour?
If the average shooter aims at someone, he will hit them half of the time. If the drunk aims at someone, then he will hit them only ten percent of the time. Once someone is hit, they are out of the game, with the winner being whoever is the last r..
Give a brief summary of economic costs. Presume a firm is operating at the minimum point of its short-run average total cost curve, so that marginal cost equals average total cost. Under what circumstances would it choose to alter the size of its pla..
Explain how through trade a country can consume at levels beyond the reach of its production possibilities. Why do countries place restrictions on international trade and What is the difference between a tariff and a quota?
The college majors that lead to the highest median earnings for both men and women tend to be those that A) are more quantitative and analytical B) stress verbal skills C) require detailed knowledge of political institutions D) are computer-related E..
1. in 2010 the box industry was perfectly competitive. the lowest point on the long-run average cost curve of each of
What would be the present value of an item that has a salvage value of $25,000 at the end of four years?Assume a discount rate of 3.8% for an end-of-year factor?
At the same time the unemployment rate remained at 8.3%. Use your understanding of the labor market to explain how these two things could happen at the same time.
Calculate the cutoff discount rate, c, such that the dam is a good idea for discount rates and a bad idea for discount rates
In 2013, Sony announced that it had suffered losses selling televisions for the ninth straight year. Given the strong consumer demand for plasma, LCD, and LED television sets, shouldn't Sony have been able to raise prices to earn a profit? Briefly..
Moreover, even students who have never taken Psychology 1 would probably know who Pavlov was, or what we mean by sibling rivalry. Suppose that the exam above was our Psychology 1 exam, where each question had four alternative choices. What woul..
Define the short-run break-even price. What are economic profits at this price? Why would a firm be willing to operate permanently at this price?
Perhaps surprisingly, field experiments have shown that strangers who encounter one another on the street (e.g., to ask directions) are friendlier around 4 a.m.
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