Question: A house was bought for $200,000 using a 20 year mortgage at 12% interest rate. After the 120th payment it was refinanced with 6% interest rate mortgage for 10 years. What is the reduction in monthly payments? T ...
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Question: The National Park Service charges visitors to a certain monument a $5 per car admission fee and an additional fee of $5 per camera. Is this necessarily price discrimination or might it be based on costs? If it ...
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Question - Paula Deen runs a seafood restaurant in Savannah, Georgia. Her total revenue last year was $150,000. The rent on her restaurant was $48,000, her labor costs were $42,000, and her materials, food, and other var ...
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Question: A group of 10 people have the following annual incomes: $55,000, $30,000, $15,000, $20,000, $35,000, $80,000, $40,000, $45,000, $30,000, $50,000. Calculate the share of total income received by each quintile of ...
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Question: Markets are where people exchange information about potential transactions. If so, can advertising create economic value? Explain. Identify some other institutions whose effects on lowering information costs ar ...
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Question: The American Recovery and Reinvestment Act of 2009 (ARRA) was passed by President Obama and Congress in response to the recession of 2007-2009. The primary components of this bill included tax cuts and increase ...
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Question: It is hot day, and Bert is thirsty, here is the value he places on a bottle of water: Value of first bottle $7 Value of second bottle $5 Value of third bottle $3 Value of fourth bottle $1 a) From this informati ...
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Question: As advances in technology make the self-registration of guests more easily achievable, some hotel companies have moved aggressively tom implement such technologies. Those who have not done so , however, point o ...
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Question: Bowen is a manufacturer of golf carts in Minneapolis servicing Minnesota and several nearby states. Over the past several years, a number of other golf cart companies have established operations in Bowen's mar ...
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Question: A. There are some "status goods," like Rolex watches, that people want to own because they are expensive. In contradiction to the law of demand, if Rolex watches were less expensive, few "status-seeking" consum ...
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