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Your enterprising uncle opens a sandwich shop that employs 7 people. The employees are paid $6 per hour, and a sandwich sell for $3. If your uncle is maximizing his profit, what is the value of the ma
Picture yourself living in the period following the Civil War. Would you support a central banking system? Why or why not?
What annual inflation rate is implied from a market interest rate of 15% per year when the real interest rate is 4% per year?
What market interest rate per quarter would be associated with a quarterly in- flation rate of 5% and a real interest rate of 2% per quarter?
What are some of the issues economists study, and why is economics often called "the science of choice"? What are the foci of inquiry in microeconomics and macroeconomics respectively?
Consider three alternatives, each with a 10-year useful life. If the MARR is 10%, which alternative should be selected? Slove the problem by benefit-cost ration analysis.
If the demand schedule may be written P = 100 - 4Q, and the supply schedule P = 40 + 2Q, then what is the market clearing price and quantity?
Calculate what level of output this monopolistic competitor should produce if he/she wishes to maximize profits.
If price falls from $200 to $150, what is the elasticity of demand over this range?
What is average fixed cost when 150 units of output are produced?
Explain the difference between efficacy and effectiveness from a health care perspective. How does a hospital administrator create a balance between the two?
Tony Soprano borrowed $200,000 from his "Shylock" friend Herb to cover his gambling losses. The "vig" is 1.5 points (%) per week. What are the nominal and effective interest rates?
Jerry and his wife decide this is a good time to buy a house.They have a down payment and need to borrow $250,000.They are offered financing which requires a 2% loan origination fee and monthly paymen
On Thursday nights, a local restaurant has a pasta special. Ari likes the restaurant’s pasta. His willingness to pay for each serving is shown below:
Why are there still poor people in America half a century after the implementation of a system of social welfare programs that were designed to end poverty?
Calculate a perpetual equivalent annual cost (year 1 through infinity) of $5 million in year 0, $2 million in year 10 and $100,000 in year 11 through infinity. Use an interest rate of 10% per year.
Who bears the cost of import barriers protecting a job where the industry employing labor has lost its comparative advantage? Consider the use of tariffs on steel imports into the U.S. during the rece
Suppose you'll have an annual nominal income of $40,000 for each of the next 3 years, and the inflation rate is 4% per year.
Why doesn’t the National Bureau of Economic Research identify the turning points in economic activity until months after they occur?
Estimate the costs of such things as rent, gasoline, food, etc. in your local area and decide how far the amount of money shown in the chart would go in taking care of a family of four.
Discuss the application of true cost pricing to oil. What might the true cost of oil be? At what price of gas would drivers in the U.S. seriously change their driving habits?
Substantiate your response with reasons and references to the textbook, lesson presentation, or Websites on the Internet.
How does the price elasticity of demand for corn oil influence the qauntity-demanded of corn oil and the total revenue earned by sellers of corn oli? Explain using economic terms
What is gross about gross domestic product? Could an economy enjoy a constant or growing GDP while not replacing wornout capital?
Provide an example of economic forces at work. Does this issue affect individual consumers or firms or the economy as a whole?