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Suppose that the marginal cost of mining gold is constant at $300 per ounce and the demand schedule is as follows: a. If the number of suppliers is large, what would be the price and quantity? b. If there is only one supplier, what would be the price and
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Economics
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Whereas most websites and online web services must continually update and improve user design, Craigslist, a classified advertisements website, has remained largely the same since 1996. What phenomenon might explain this? a.) Craigslist’s founder did no
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What is the investment demand curve? Discuss the nature of the investment demand curve.
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Economics
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Kleen Karpet cleaned 65 rugs in October, consuming the following resources: Labor: 520 hours at $13 per hour Solvent: 100 gallons at $5 per gallon Machine rental: 20 days at $50 per day a. What is labor productivity? b. What is multifactor productivity
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Economics
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Maddox, a division of Stanley Enterprises, currently performs computer services for various departments of the firm. One of the services has created a number of operating problems, and management is exploring whether to outsource the service to a consulta
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Economics
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What are some variable costs for an app development?
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Economics
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When a small firm expands the scale of its operations, why does it usually first experience increasing returns to scale? When the same firm grows to be extremely large, why might a further expansion of the scale of operation generate decreasing returns to
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The price of a house in Year 1 was $50,000. If the price index for Year 1 is 101 and for Year 2 is 202, the value of the house in Year 2 is: A. $150,000 B. $55,000 C. $75,000 D. $100,000
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Economics
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Which depreciation method would you generally prefer to use for income tax purposes? Why? a. Double-declining-balance because it gives the most total depreciation over the asset’s life. b. Straight-line because it is simplest. c. Double-declining-balance
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Economics
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Why do gas prices fluctuate?
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Antique Works is owned and operated by a craftsman who makes replicas of historic firearms for museums, sportsmen, and collectors. The cost data are as follows: Price per unit: $720 Variable costs per unit: $470 Fixed costs per month: $8,000 If Antique ex
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A major reason that a public debt cannot bankrupt the Federal government is because: _.
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Uber Inc purchased a car for $43,100. The car has a salvage value of $2,800 and is estimated to be in use for 150,000 miles. What is the accumulated depreciation at the end of Year 2 assuming mileage used in year 1 was 13,310, year 2 was 16,670, and year
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Economics
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QuadPlex Cinema is the only movie theater in Idaho Falls. The nearest rival movie theater, the Cedar Bluff Twin, is 35 miles away in Pocatello. Thus \quadPlex Cinema possesses a degree of market power.
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Should we be concerned about a growing federal debt? a. No, because budget deficits are more impor- tant to worry about than the federal debt. b. No, because federal debt, unlike private debt, does no
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Economics
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Marty’s frozen yogurt shop sells cups of frozen yogurt in a local university town. He owns three frozen yogurt machines. His other inputs are refrigerators, frozen yogurt mix, cups, sprinkles, and wor
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Economics
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Moore Entertainment sells souvenir T-shirts at each rock concert that it sponsors. The shirts cost $6 each. Any excess shirts can be returned to the manufacture for a full refund of the purchase price
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Economics
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Why is it important for marketers to understand consumer behavior theories? – Because they may be able to manipulate consumers into purchasing their products – Because marketers need to develop stra
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A _____ yield curve predicts a future increase in inflation. A) steeply upward sloping B) slight upward sloping C) flat D) downward sloping If a higher inflation is expected, what would you expect to
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In one hour, George can fix four flat tires or type 200 words. What is his opportunity cost of fixing a flat tire? a) 200 Words b) 4 Flat Tires c) 1 Word d) 50 Words e) 800 Words
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Economics
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Boxowitz, Inc., a computer firm, is planning to sell a new graphing calculator. For the first year, the fixed costs for setting up the new production line are $100,000. The variable costs for producing each calculator are estimated at $20. The sales depar
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Economics
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Calvin is a custom picture framer. His total fixed cost is $53 a day, and his average variable cost is $4 a frame. Few people know about Calvin’s Framery, and he is maximizing his profit by selling 16 picture frames a day for $9 a frame. Calvin thinks tha
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Economics
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Why are costing methods used in the service industry different from those used in the manufacturing or merchandising industries?
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The general journal of Kevin Berry Industries included the following entries relating to various expenditures during 20X5. Review this information and prepare corresponding entries to record any necessary straight-line amortization or other impairment for
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Economics
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It is known that the inflation rate over next three years is expected to be 5% in the first year, 10% in the second and 15% in the third. In such a case, average expected annual inflation rate is?It i
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Economics
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Working capital management includes which one of the following- A. Deciding which new projects to accept. B. Deciding whether to purchase a new machine or fix a current machine. C. Determining whic
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Business
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What are the economic cycle as used in business and list three stages the economy undergoes?
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Business
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Suppose that a large number of men who used to work or seek work now no longer do either. Other things the same, this makes: A. the number of people unemployed rise but does not change the labor force. B. the number of people unemployed rise but makes the
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Economics
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Suppose we have the following Treasury bill returns and inflation rates over an eight year period: || Year || Treasury Bills || Inflation 19.4711.32 210.3514.9338.089.284
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Economics
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The average total cost of producing laptop computers in a factory is $500 at the current output level of 100 units per week. If fixed costs equal $10,000,: a) average fixed cost equals $10,000. b) total cost equals $60,000 per week. c) variable cost equal
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Economics
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While at a discount shoe store, a customer asked the clerk, “I see that your shoes are ‘buy one, get one free’ – limit one free pair per customer. Will you sell me one pair for half price?” The clerk answered, “I can’t do that.” When the customer started
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Economics
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Which of the following is not a source of income? a. your annual salary for doing your job b. your monthly student loan payment c. the stipend you receive for doing an internship d. the wages you receive after a work shift
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Business
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Andrew quits his job as an accountant where he earns $60,000 per year to go back to school for two years to get an MBA degree. He attends a school that charges $25,000 per year for tuition and related
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What is inflation and what does it mean? a. a fall in the general level of prices occurs; workers need more money to pay for goods, clothing, and shelter b. a rise in the general level of prices occurs; workers need more money to pay for goods, clothing,
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Economics
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You hold a portfolio with the following scenarios: Security Percent of Portfolio Beta Stock A 23% 1.50 Stock B 48% 1.32 Stock C 29% 1.87 Calculate beta for the portfolio.
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Economics
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A laptop computer is purchased for $1850. After each year, the resale value decreases by 25 % . What will the resale value be after 4 years? (Round your answer to the nearest dollar)
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Economics
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Joanne sells silk-screened T-shirts at community festivals and craft fairs. Her marginal cost to produce one T-shirt is $ 4.50 . Her total cost to produce 80 T-shirts is $ 410 and she sells them for $
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Economics
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Suppose that you invest $5,000 each year for 5 years and that you expect to earn an interest of 5.5%? How much money should you have in 15 years?
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Economics
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Determine the function of money illustrated by the following statement: “This Dell laptop costs $1,200.” a. medium of exchange b. unit of account c. store of value d. standard of deferred payment
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Business
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The market consisting of all the world’s currencies that are banked outside their countries of origin is called the A) Foreign exchange market \ B) Interbank market \C) Euro currency market\ D) Offshore financial center
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