Opportunity Cost‚ Supply and Demand 1. The following table shows output per hour for Martha and Stewart who make gift baskets and potholders: (a) What is the opportunity cost of a gift basket for Martha? What is the opportunity cost of a gift basket for Stewart? Who has a comparative advantage in producing gift baskets? How can you tell? (b) What is the opportunity cost of a potholder for Martha? What is the opportunity cost of a potholder for Stewart? Who
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Appalachian Coal Mining believes that it can increase labor productivity and‚ there- fore‚ net revenue by reducing air pollution in its mines. It estimates that the marginal cost function for reducing pollution by installing additional capital equipment is MC = 40P where P represents a reduction of one unit of pollution in the mines. It also feels that for every unit of pollution reduction the marginal increase in revenue (MR) is MR =1‚000 =10P. How much pollution reduction should Appalachian Coal
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Through my whole life‚ I had dreamt of helping people especially those who deserve justice. For this reason‚ my goal is to graduate from university and become a lawyer. Therefore‚ I need to find resources that could help me to achieve my goals. There are many ways in which this scholarship will facilitates me. First of all‚ this scholarship will make it easier for me to function well in my education goals. It gives me an opportunity to further my education at University of Malaya in the field of
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bkjblkb‚.nn;n;lkn;n;ln;n; ;ln;ln bpjpo pn pon o opnpon po pon po npo nn pon po n opn pon pon pon pon pon pon pon pon ponp onp on pon pon pon pon po npDreamliner 787 case study Tara Lentini Week 3 Case Assignment Boeing: Dreamliner 787 Discuss the nature of the market structure and demand for the Dreamliner. What are the implications for Boeing and its customers? The market structure for the Dreamliner is that of an oligopolistic nature which means there are few air Premium1632 Words7 Pages Boeing
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Chapter 1 (2 & 6 p. 27) 2. What is the maximum amount you would pay for an asset that generates an income of $150‚000 at the end of each of five years if the opportunity cost of using funds is 9 percent? To find the maximum amount‚ we must determine the Present Value (PV) of the $150‚000 over the 5 years. PV=(150000/1.09^1)+(150000/1.09^2)+(150000/1.09^3)+(150000/1.09^4)+ (150000/1.09^5) = $583‚447.69 So‚ if costs exceeded $583‚447.69‚ then the asset would not be worth the price
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The purpose of this paper is to prepare a speech that will be provided to a number of reporters that are not well versed with economics. In this paper I will put emphasis on international trade and foreign exchange rates and how those affect the GDP‚ domestic markets‚ and students. I will also outline some of the benefits on goods and services that are imported from other countries and how those contribute to our economy in the United States. What happens when the dollar-value of goods and services
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UNIVERSITY OF BOTSWANA FACULTY OF SOCIAL SCIENCES DEPARTMENT OF ECONOMICS (2013/14) ECO 111 - BASIC MICROECONOMICS GROUP | LECTURER | OFFICE | LECTURE HOURS | LECTURE ROOM | A | Prof. N. Narayana | 240/113 | M‚ W & F 0800 | 252/LT-1 | B | Dr. J.B. Tlhalefang | 240/258 | M‚ W & F 1200 | 252/LT-2 | C | Ms. M. Seemule | 230/209 | M‚ W & F 0900 | 240/002 | D | Prof. N.P. Sinha | 240/105 | M‚ W & F 0900 |
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Business and Economic Environment Assignment Brief Assessment Activity Front Sheet This front sheet must be completed by the learner and included with the work submitted for assessment. Programme Advanced Diploma in Contemporary Contexts Unit Module Business and Economic Environment Learner Name Assessor Name Lilian Onuegbu Date Issued 21 February 2014 Hand in Date 16 May 2014 Submitted on Internal Verification Yes
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I do not own any rights. This is from my school book. Chapter 1 – What Is Economics? A Definition of Economics Our inability to satisfy all our wants is called scarcity. The choices that we make depend on the incentives that we face. An incentive is a reward that encourages or a penalty that discourages an action. Economics is the social science that studies the choices that individuals‚ businesses‚ governments and entire societies make as they cope with scarcity and the incentives that
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w w w e tr .X m eP UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS GCE Advanced Subsidiary Level and GCE Advanced Level e ap .c rs om MARK SCHEME for the October/November 2009 question paper for the guidance of teachers 9708 ECONOMICS 9708/22 Paper 22 (Data Response and Essay – Core)‚ maximum raw mark 40 This mark scheme is published as an aid to teachers and candidates‚ to indicate the requirements of the examination. It shows the basis on which Examiners were instructed to award
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