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We have been looking at just the Additional Marginal Opportunity Costs of our choices. What about the total cost? For example, we see and hear ads all the time about different cell phones and cell phone plans. I spoke with a representative of one phone company the other day. She started off with this is the Price of the Plan per month for 2 years and this is what you get for it. Then she said 'but wait. if you add this feature it is only $10 more a month.' That sounded pretty good and the she said 'but wait. if you add this other feature it is only $7 more a month.' What is I had only paid attention to the Marginal Cost and not asked what the Total Cost would be?
If Starbucks's marketing department estimates the income elasticity of demand for its coffee to be 2.9, how will the prospect of an economic bust (expected to decrease consumers' i
1. Consider the following game: a) Does either player have a dominant strategy? b) Does either player have a (pure) prudent strategy? c) Does the game have a saddlepo
Q. Describe about Price level and time? We are hardly interested in the value of price level at a certain point in time. What we are interested in is percentage change in the p
What happens to the extraction path if the choke price falls
THE PRODUCT MARKET Z=C+I+G C=a+bYd I=Io+I1Y-I2i Equilibrium condition, Y=Z, where Y represents output and Z is aggregate spending. THE FINANCIAL MARKET Md=MT+Mp MT=MTo+MT1Y Mp=Mpo
x=40-0.2p where x=x1+x2 c1=50+2x1+0.5x1 c2=100+10x2
distinguish between state and dynamic multiplier and illusrate balanc budget theorm in hindi
Determine on any market the effect of the following. Do each separately (on a separate graph) starting from an initial equilibrium position for each one. 1. increase in income
why is imports subtracted from the expenditure approach
What was Real GDP for 2009? What does GDP tell us? How did GDP change from 2008? What caused these changes? What was GNP for 2009? What is the difference between GDP and GNP?
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