Solved Questions

Solutions
Question
1
solution
Category: Economics
Provide your own definition of “opportunity cost”.Discuss what the opportunity cost of attending college is for you, noting that the concepts of opportunity costs and explicit monetary costs are not the same
1
solution
Category: Economics
If you turn down a job offer of $45,000 per year to work for yourself, what is the opportunity cost of working for yourself?
1
solution
Category: Economics
In order to get a license to practice in the United States, foreign-trained veterinarians must take an exam given by the American Veterinary Association. Only 48 people per year are allowed to take the exam, which is administered at only two universities. The fee for the exam, which must be booked at least 18 months in advance, was recently raised ...
1
solution
Category: Economics
If taxi fares in a city rise, what will happen to the total revenue received by taxi operators? If the fares charged for subway rides, a substitute for taxi rides, do not change, what will happen to the total revenue earned by the subway as a result?
1
solution
Category: Economics
What are externalities? Are they always bad?
1 2 3 37