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Suppose one were asked to recommend a price for the output of a proposed downtown parking garage, so that the project would have as large a Net Present Value as possible. In this case, the optimal parking price or rate is the one for which the last person's willingness to pay for parking will exactly equal that person's marginal cost of parking, including the opportunity cost of that person's time.
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Describe Willingness to Pay?
marginal utility is applied on money or not
Problem 1: i) Differentiate between the short and the long run. ii) How is production characterised the short run? Explain the fully using numerical and diagrammatic illustr
If a minimum wage were imposed below the competitive equilibrium what would we expect to observe in the effected labor markets?
Policy: Post-Communism Demolition of the Berlin Wall and take-down of the Iron Curtain hasn't significantly improved the situation in what are optimistically and euphemisticall
Q. Show the method of applying a discount? The method of applying a discount rate to convert future monetary amounts to their equivalent value in today's terms, based on the pr
define perspective of managerial economics.
equilibrium of production
If a large amount of skilled labor immigrated into the country, which allows the available resources to produce more of goods X and Y, which of the following will occur? A.the y-i
Question 1: a. What is the supposed rationale for subsidising higher education in various developing countries? b. Do you think there is a legitimate rationale to the abov
A firms total cost function is TC=0.0006*X^3-0.086*X^2+4.8*X+25 and its total revenue function is TR=2.5*X find its profit function
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