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Comment on the difficulty of calculating opportunity costs (the economic concept) as compared to accounting costs (explicit costs). Do you have any suggestions for making the calculation of implicit costs easier?
Business Economics, Economics
In a health club, research shows that on average, patrons spend an average of 42.5 minutes on the treadmill, with a standard deviation of 4.8 minutes. It is assumed that this is a normally distributed variable. Find the ...
Sobel consumes positive quantities of both jam and juice. The price of jam is 5 cents per unit and the price of juice is 10 cents per unit. Her marginal utility of jam is 10 and her marginal utility of juice is 5. a. Wit ...
In this question you need a Z table and then you can get all answers? You have a normal distribution with a mean of 90 and a standard deviation of 7. If appropriate, calculate the following probabilities: What is: Probab ...
Sam has had the following transactions during the year: Gambling losses $3,000 New suit for work $500 Tax Preparation Fees $1,000 Investment mgmt fee $2,200 Sam's AGI of $110,000 is brok ...
What is the fraction defective if material hardness is normally distributed with a mean of 42 and a standard deviation of 1 and the specification limits for hardness are from 35 to 45? What value for the process mean wil ...
My kids love playing UNO and we just finished up an intense round. Lets say that the deck has 80 cards. 20 red, 20 blue, 20 green and 20 yellow. What is the probability of pulling 3 green cards if the first 2 are replace ...
As noted in Chapter 14 of A&A, distribution of income among various population groups followed roughly the same patterns in the USA, Sweden, and the former Soviet Union, despite the very different forms of economic organ ...
Explain a situation using the supply and demand for skilled labor in which the increased number of college graduates leads to depressed wages. Given the rising cost of going to college, explain why a college education wi ...
If Average Fixed Costs are 9.7 and Average Variable Costs are 9.6 at 3 units of output, what are Average Total Costs? i.e., what are Average Total Costs per unit at 3 units of output?
In defining demand and supply, why do economists focus on price while holding constant other factors that might have an impact on the behavior of buyers and sellers?
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Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate
Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p
Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As
Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int
Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As