No need to solve anything by graph, mainlyderivative stuff. Justify answer in 5a with a shortexplanation!5. Marginal Analysis.In each of the situations below you are asked to make a business decision justified byan analysis of a function which models some aspect of business. Your answer shouldindicate a recommended course of action along with a single sentence justifying orexplaining your recommendation.(a) Suppose the monthly profits (in thousands of dollars) for a particular franchisebusiness are well modeled by:P(t) = 10t – 60(t is measured in months)Should an investor start a new business with a short term (6 month loan), or alonger term (1-2 years) loan?

An examination of the associated benefits and costs of specific activities or financial decisions…

Answered: 5. Marginal Analysis. In each of the…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter2: Choice In A World Of Scarcity

Section: Chapter Questions

Problem 17RQ: Is the economic model of decision-making intended as a literal description of how individuals,...

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Studying has both costs and benefits. If you continue tostudy (e.g., for a test) for as long as the marginal benefitsof studying are greater than the marginal costs, and youstop studying when the two are equal, will your actionbe consistent with having maximized the net benefits ofstudying? Explain your answer.
Pls help with below homework. What is the main difference between the adaptive and the visionary approach ? Pls give atleast two examples.
1) How does the concept of scarcity fit into an understanding of economics? How does it relate to the notion of trade offs? Explain a few factors that go into rational decision making in an economic contexr.
Give typing answer with explanation and conclusion Consider a good or service where consumers pay more than its actual valuation (for eg, products with markup prices at retail significantly higher than their cost: greetings cards, bottled water, stock price, movie theatre popcorn/candy). Based on the irrational decision-making and marginal analysis, explain why such irrational decision-making could take place in this situation.
1. Explain 4 ways in which human decisions making differs from the rational individual conventional economic theory
Is the economic model of decision-making intended as a literal description of how individuals, firms, and the governments actually make decisions?
Which has a good example of an opportunity cost? Which one is an example of economically rational decision-making? 1. "To begin, I began selling prints of my pictures in 2019 throughout 2020. It's now closed. USPS and UPS were the options I had during this period to ship out orders. UPS was expensive at the moment for smaller or lightweight packages whereas USPS offered a cheap price for these types of packages. UPS ships more than 220 internationally while USPS ships to certain international destinations. I have chosen USPS over UPS, orders were delivered on time and without damage by the United States Postal Service. The opportunity cost is the benefit of UPS shipping. " 2. "To begin, I began selling prints of my pictures in 2019 throughout 2020. USPS and UPS were the options I had during this period to ship out orders. I chose to ship my orders via UPS rather than USPS since it had the choice to ship orders internationally. While USPS is cheap and has fast shipping. Shipping the…
1 explain the role of ceteris paribus in economic analysis
Describe three ways in which human decision making differ from the rational individual conventional economic thoery
Assume that the price per hamburger is $2.50. The incremental value to you of each hamburger is described in the table below. If you are seeking to maximize total net gains from hamburgers, how many hamburgers should you purchase? Pairs of jeans Marginal Benefit 1 $8.00 2 $6.00 3 $4.00 4 $2.00 5 $0.00 Group of answer choices 3 2 4 5 1
Why in Pure Specific Factors only Owner of A benefits but in Mixed both owners of K and owners of A will benefit?
Whether a certain criterion is determinant or not is independent of the situation in which a product is consumed. True False In the context of disposing of consumer refuse, recycling cuts down on garbage while providing raw materials for other new products. True False Which of the following is a fundamental emotion evoked by positive, anticipatory appraisals that signal uncertainty about a positive outcome? a. Hope b. Confusion c. Surprise d. Pride Which of the following best describes chronic, repetitive purchasing behaviors that are in response to negative events or feelings? a. Addictive consumption b. Impulsive purchasing c. Window shopping d. Compulsive buying Retaliatory revenge is when a consumer yells insults and makes a public scene in an effort to harm the business. True False

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