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When you study, how might you know that you are at a point of diminishing returns, or where more study will not benefit you like it did before? Can you identify any of the costs that would help you
Why might a profitable motel shut down in the long run if the land on which it is located becomes extremely valuable due to surrounding economic development? What kinds of costs are involved in maki
What if Brian decides to spend 25 hours, rather than 19, studying? How does the optimal mix change? How does the maximum average grade change?
How do you go about weighing the alternatives? Once you choose a most important use of time, why do you not spend all your time on it? Use the notion of opportunity cost in your answer.
Question 1: Does the PPC illustrate increasing or decreasing opportunity cost? Question 2: What is the opportunity cost for this student for the additional amount of study time on economics required
Determine whether the Justice Department would challenge a merger between two firms in an industry with 10 equalized firms, based on the Herfindhal index guidelines. (No other factor considered)
Use the readings from the background page. In general, do you think the government should intervene in the market?
Which product would tend to have a higher markup in a supermarket, cigarretes or Colombian coffee? Explain. And what about Apple computers and HP computers in an electronics store?
You have been hired to be a consultant on pricing strategies for two different companies. Both of the companies have similar customer bases in that their customers fall into two well defined groups:
You have conducted a detailed financial analysis of this potential business opportunity. You believe that you have good information on the cost of starting and operating the restaurant.
Problem: Evaluate managerial decision-making tools using different ethical theories.
Managers make decisions with the expectation that profits will increase. Illustrate with one example the managerial problem and the rule or logic the manager should do in order to make a decision th
A) Draw the marginal revenue function for this firm. B) What is the profit-maximizing price for this firm? C) On the graph show the area which represents the net loss to society resulting from the m
Which of the following is an important factor that tends to affect the magnitude of the own-price elasticity of demand for a good?
Fast food restaurants tend to cluster together. That is, on one corner, there may be four similar fast-food restaurants. 1) How game theory explain this behavior?
Find the Stackelberg equilibrium and compare it to the Cournot equilibrium.
a. Describe why there might be this difference in demand between the two types of readers. b. How many total copies of the Wall Street Journal should be printed?
Problem. What is the value of real GDP produced in 2014 using 2013 as the base year? Problem. What would be the growth in real GDP? Problem. Why is there unemployment even when the economy is at "full
A two-period project has the following probabilities and cash flows. The discount rate is 7%, and the initial investment is $1,000. How much is the expected NPV of this project?
(1) If you were exporting US made products to Europe, what would happen to prices of your exports? (2) If you were importing to the US products made in Europe, what would happen to the prices of your
Complete the following table for the firm below which is selling its product in a perfectly competitive market and hiring labor in a perfectly competitive labor market. State how many workers the fi
Suppose that Pine furniture were to produce three end tables and three dining room tables. Calculate by hand the amount of pine wood and labor that would be required, as well as the profit generated
Problem: The demand curve for hybrid automobiles is upward sloping. It is a violation of the law of demand. Why?
The following table displays George’s consumption of soda pop and pretzels. The price of each soda pop is $2.00 and the price of each pretzel is $5.00.
This analysis assessment has three parts. It is required to show the formula prior to your complete calculation. Part I. Using the midpoint method, calculate and interpret the price elasticity of dema