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Gasoline, insurance, depreciation, and repairs are all costs of owning a car. Which of these can be considered opportunity costs in the context of each of the following decisions? a. You own a car and are deciding whether to drive 100 miles for a weekend visit to a friend at another university. b. You do not own a car but are considering buying one so that you can get a part-time job located 5 miles from where you live. In general, why does the context in which you decide to do something affect the opportunity cost of doing it?
Explain the facts or economics rate Boom: The period leading up to the peak of the cycle when an overheating economy is experiencing high GDP growth and inflationary pressures
Explain why a perfectly competitive firm does not expand its sales without limit if its horizontal demand curve indicates that it can sell as much as desires at the current market
Derive the following equilibrium for the IS-LM model:
INDEX NUMBERS OF PRODUCTION Among the commonly used economic indicators to monitor current trends in the economy are indices of production. The main aggregative indices used t
Determine the current productivity results for the non-farming business sector and the manufacturing sector. Discuss recent productivity and cost trends and make predictions for th
You are the manager of a firm that receives revenues of $40,000 per year from product X and $90,000 per year from product Y. The own price elasticity of demand for product X is -1.
It refers to the study of feasibility of a project in terms of its total economic cost and total economic advantages. It means to compare total cost with total advantage if we
A sample of 60 mutual funds was taken and the mean return in the sample was 13% with a standard deviation of 6.9%. The return on a particular index of stocks (against which the mut
what measures should be taken to raise the productivity of the workers?
Assume two individuals, A and B, are considering marriage, and each face the same amount of hours a week to be split between market-labor and home-labor. Assume that A can make $2
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