econ 522 hw 6 solutions S2024

Buying and selling textbooks are two separate decisions made at the margin. Textbooks create value both when they are bought and when they are sold. Think about your decision to buy the textbook for this course. You paid $225 for the book, but you would have been willing to pay $500 to use the book for the semester. Suppose that at the end of the semester you could keep your textbook or sell it back to the bookstore. Once you have completed the course, the book is worth only $50 to you. The bookstore will pay you 50% of the original $225. How much total value have you gained? $

Buying and selling textbooks are two separate decisions made at the margin. Textbooks create value both when they are bought and when they are sold. Think about your decision to buy the textbook for this course. You paid $200 for the book, but you would have been willing to pay $450 to use the book for the semester. Suppose that at the end of the semester you could keep your textbook or sell it back to the bookstore. Once you have completed the course, the book is worth only $70 to you. The bookstore will pay you 50% of the original $200.

Buying and selling textbooks are two separate decisions made at the margin. Textbooks create value both when they are bought and when they are sold.Think about your decision to buy the textbook for this course. You paid $200 for the book, but you would have been willing to pay $450 to use the book for the semester. Suppose that at the end of the semester you could keep your textbook or sell it back to the bookstore. Once you have completed the course, the book is worth only $70 to you. The bookstore will pay you 50% of the original $200.How much total value have you gained? $

A market's deadweight loss is calculated as: O the economic loss that a firm has when it is not producing its profit-maximizing output. O the price at equilibrium minus the price at actual quantity. the loss to consumers when a product malfunctions or fails to meet expectations. O the total economic surplus at the efficient quantity minus the total economic surplus at the actual quantity.

Henry and Harper decide to open a concession stand next to a city park that has a number of sports fields. They each contribute $1,000 and rent a small food trailer and buy supplies. They anticipate being busy, so they hire James to help out and pay him weekly. The first summer, they make $12,000 and incur $6,000 in costs. How much profit is made and who will receive it?

How do people make the decision to purchase Qatar airways tickets? You could talk either about evaluative criteria or decision rules ?

Need typed solution with explanation

Suppose you own a profitable small business in another state and you wanted to hold a meeting, but you needed to make a decision on whether to fly to the other state using your free frequent-flyer miles and pay a $100 cab-fare or hold a video conference meeting (at a facility that you have already prepaid a $2000 access-fee but must also paid a $155/hour to use the facility). What option should you choose?

Give typed solution only You are deciding whether to buy a car for ​$22,000 or to accept a lease agreement. The lease entails a ​$800 fee plus monthly payments of ​$260 for 48 months. Under the lease​ agreement, you are responsible for service on the car and insurance. At the end of the​ lease, you may purchase the car for ​$9000. Does the total cost of purchasing the car at the end of the lease agreement exceed the cost of purchasing the car at the​ outset? A.​Yes, the total cost of the car at the end of the lease is B.​No, the total cost of the car at the end of the lease is ​

Suppose you are in charge of snow removal in your community and you are trying to figure out if you should clear snow on a street. You survey the 20 people that live on that street who say they they each value having snow cleared on their street at $50 per year. The snow removal only costs $600 per year so you hire a snow plow and clear the snow that winter. When you ask for donations to pay for the snow removal you only receive $80. What does this result show?   a   The people on that street were free-riders.   b   The snow removal suffered from the Tragedy of the Commons problems.   c   The snow removal cost must have been greater than their economic benefit.   d   You must have overestimated the value of a fireworks show.     Please suggest me right answer with explanation

You bought a ticket for a concert of Taylor Swift in Manchester for £400. If you want, you can return the ticket for a full refund up to the start of the concert. You were willing to pay up to £600 for that ticket. The train ticket from your home to Manchester and return costs £150. There are no other costs of going to the concert. You realise now that the concert is sold out. After checking various websites, you receive a firm offer for your concert ticket of £2100. If you do not go to the concert, your next best alternative for that day is watching a pay-per-view video of an Amy McDonalds concert on Netflix for £50 at home. Your willingness to pay for the pay-per-view video is £300 (Your willingness to pay for the concert ticket does not change over time.)  Which decision is the optimal decision in economic terms? What is the opportunity cost of going to the concert in Manchester? What is the opportunity cost of staying home? Calculate the net cost (or net benefit) if you decide to…

what are fundamental factors considered when making decisions to achieve various goals of a firm

You were able to purchase two tickets to an upcoming concert for $100 apiece when the concert was first announced three months ago. Recently, you saw that StubHub was listing similar seats for $225 apiece. What does it cost you to attend the concert?

Give explanation of the correct option and explanation of the incorrect options. Hand written not allowed.

Study the following text and answer the questions below it. How to Build a One-Match Campfire Building a campfire that you can light with one match is simple if you follow these easy steps. The first step is to prepare a safe place for your campfire. Clear an area on the ground at least 3 feet wide, and put a circle of stones around it. Second, gather fuel. You will need several sizes of fuel: small twigs, medium sticks, and large sticks. The next step is to build a tepee. Put a handful of twigs in a small pile, and use the small sticks to build a small tepee over the pile. Leave spaces large enough to drop a lighted match through. Next, build a cabin around the tepee using the medium sticks. Fifth, place two large pieces of wood on either side of the cabin, and lay two or three long sticks on top to make a loose roof. The last step is to light a match and drop it through a space in the tepee. Soon you will enjoy the warmth of a nice fire, and your friends will admire your skill at…

Give explanation of the correct option and explanation of the incorrect options

Incorrect option too explain

Solve question 18 give reasons for correct option and reasons for incorrect options. Don't upload any graph

There are 15 dozen eggs in a case. The case costs $ 22.56. What doe one egg cost?

John was a troubled teen and got arrested several times and even spent some time in a juvenile detention center. John is now 22 years old and briefly attended Highline College but dropped out and has no job. John’s grandmother is very concerned, so she promised John that if he got a steady job, did not break the law again, and if he went back to Highline College if he could be re-admitted, she would pay John $50,000. John loved his grandmother and he promised to do all of that for her. Discuss whether these various promises on John’s part would constitute valid consideration for the payment of the $50,000. Please fully explain your answer for all the points.

Please show me how to work this out. It has four parts but one question

Arnold Van would like to buy some 'sala' set for his new house and Aaron, another consumer would also like to get one. The nearby department store sells a sala set for P35,500 and a local market reseller sells the same sala set for P 30,000 only. Arnold Van bought from the department store and Aaron from the local market. Can you propose reasons how these two people made different decisions?

Your president bought two acres of land for $200,000 ten years ago. Although it is zoned for commercial use, it currently holds eight small, single-family houses. A property management firm that wants to continue leasing the eight houses has offered you $400,000 for the property. A developer wants to build a 12-story apartment building on the site and has offered $600,000. What value should you assign to the property?

Economics Was it ethical for Tesla to hire a PR firm to monitor its employees? Yes or No? Write a paragraph to explain your answer. discussion

After graduating, you start work as a management consultant. You are paid $210 per hour. One morning before work, you decide to buy a new car. You know the exact model you want, and you know that in your area the price ranges from $39,000 to $41,000, with the average price you can expect to pay being $40,000. You can choose among hundreds of dealers, but you don't know which dealer will give you the best price. Time is literally money, since every hour you spend searching is an hour you don't get paid. Each visit to a dealer takes an hour. Your expected marginal benefit of another search is the difference between the current dealer's offer and the average price. The first dealer you go to asks $40,500 for the car. Should you accept the price or keep searching? (Keep in mind that each visit to a dealer takes an hour.) Keep searching. Accept the price. Suppose you kept searching, and the next dealer you go to asks $40,150. Do you think you should accept this price or keep searching? O…

What would be the correct solution for this one?