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1 the opportunity cost of going to college for a student receiving a scholarshipa is the risk of dropping outb is the
differences in income are most directly related to which of the following economic questionsa what goods and services
1 suppose the equilibrium price of a gallon of milk is 4 if the government imposes a price floor of 5 per gallon of
1 the problem of scarcitya exists because the limited human wants cannot be satisfied with available resourcesb can be
which of the following is not a factor of productiona wilderness areas that have yet to be developedb 175 shares of
1 deadweight loss isa made up of a loss of only producer surplusb not a social lossc made up of a loss of both consumer
you are given the following information the current dollar-pound exchange rate is 2 per pound a us basket that costs
1 it has been said that if government wishes to tax certain goods it should tax goods that have inelastic rather than
a small country imports sugar with free trade at the world price of 010 per pound the countryrsquos national market
line authority is a basic type of authority to carry out tasks and give orders related to the organizations primary
a consider a bivariate case yib0b1xiuiusing the fact that b1 ols is unbiased estimator of b1 show that also b0 ols is
for each group identified in bold type below use the labor-leisure choice model to illustrate graphically and then
use the table that follows to anwser this question treat the country listed as the home country and treat the united
steve slacker is age 25 has an mba degree but is not working instead he is living at a major ski area using the 2000
1 using the midpoint formula calculate the price elasticity of demand if a price rise from 8 to 10 and decreases the
come up with five examples of firms that have used imitation as a way of reducing the risk of entry what aspects of
if the market for a product is broadly defined thena the good has many complementsb there are many substitutes for the
lcd tvs and blu-ray players are complements in consumption suppose the price of lcd tvs falls how will this affect the
the heckscher-ohlin model assumes that there are two countries each of which produces two goods say manufactures and
consider mary an hourly worker who currently earns 30000 per year if marys wage rate is increased by 50a the
1 with the quantity of good x measured on the horizontal axis and the quantity of good y measured on the vertical axis
1 when resources are allocated to their highest valued use is achieved and when goods and services are produced at the
consider a production possibilities frontier ppf that is concave bowed outward from the origin such a ppf displays
according to an article in the wall street journal unlike airlines even elite hotels dont have sophisticated systems