Macroeconomics
13th Edition
ISBN: 9780134735696
Author: PARKIN, Michael
Publisher: Pearson,
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Question
Chapter 1, Problem 10APA
(a)
To determine
The success of Guardians of the Galaxy influence the
(b)
To determine
The hiring of Mr. CP affects the incentives of the movie producer.
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10.Before starring in Iron Man, Robert Downey Jr. had appeared in 45 movies that grossed an average of $5 million on the opening weekend. In contrast, Iron Man grossed $102 million.
a.How do you expect the success of Iron Man to influence the opportunity cost of hiring Robert Downey Jr.?
b.How have the incentives for a movie producer to hire Robert Downey Jr. changed?
11.What might be an incentive for you to take a class in summer school? List some of the benefits and costs involved in your decision. Would your choice be rational?
What is an opportunity cost? Give an example from class or make up your own.
Suppose your friend ask you to go watching a movie while you are studying for an examination. what would be the opportunity cost of watching the movie? Explain your answer.
Chapter 1 Solutions
Macroeconomics
Ch. 1.1 - Prob. 1RQCh. 1.1 - Prob. 2RQCh. 1.1 - Prob. 3RQCh. 1.2 - Prob. 1RQCh. 1.2 - Prob. 2RQCh. 1.3 - Prob. 1RQCh. 1.3 - Prob. 2RQCh. 1.3 - Prob. 3RQCh. 1.3 - Prob. 4RQCh. 1.3 - Prob. 5RQ
Ch. 1.4 - Prob. 1RQCh. 1.4 - Prob. 2RQCh. 1.4 - Prob. 3RQCh. 1.4 - Prob. 4RQCh. 1.5 - Prob. 1RQCh. 1.5 - Prob. 2RQCh. 1.5 - Prob. 3RQCh. 1.A - Prob. 1RQCh. 1.A - Prob. 2RQCh. 1.A - Prob. 3RQCh. 1.A - Prob. 4RQCh. 1.A - Prob. 5RQCh. 1.A - Prob. 6RQCh. 1.A - Prob. 7RQCh. 1.A - Prob. 8RQCh. 1.A - Prob. 9RQCh. 1.A - Prob. 10RQCh. 1.A - Prob. 11RQCh. 1.A - Prob. 1SPACh. 1.A - Prob. 2SPACh. 1.A - Prob. 3SPACh. 1.A - Prob. 4SPACh. 1.A - Prob. 5SPACh. 1.A - Prob. 6SPACh. 1.A - Prob. 7SPACh. 1.A - Prob. 8SPACh. 1.A - Prob. 9SPACh. 1.A - Prob. 10SPACh. 1.A - Prob. 11SPACh. 1.A - Prob. 12APACh. 1.A - Prob. 13APACh. 1.A - Prob. 14APACh. 1.A - Prob. 15APACh. 1.A - Prob. 16APACh. 1.A - Prob. 17APACh. 1.A - Prob. 18APACh. 1.A - Prob. 19APACh. 1.A - Prob. 20APACh. 1.A - Prob. 21APACh. 1.A - Prob. 22APACh. 1.A - Prob. 23APACh. 1 - Prob. 1SPACh. 1 - Prob. 2SPACh. 1 - Explain how the following news headlines concern...Ch. 1 - Prob. 4SPACh. 1 - Prob. 5SPACh. 1 - Prob. 6SPACh. 1 - Prob. 7APACh. 1 - Prob. 8APACh. 1 - Prob. 9APACh. 1 - Prob. 10APACh. 1 - Prob. 11APACh. 1 - Prob. 12APACh. 1 - Prob. 13APA
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Similar questions
- A popular bakery has only a few ingredients left to make their products. They could bake muffins or cookies, but they can’t make both. The bakers decide to make cookies for their customers. What is the opportunity cost of their decision?arrow_forwardYou win $100 in a basketball pool. You have a choice between spending the money now or putting it away for a year in a bank account that pays 5 percent interest. What is the opportunity cost of spending the $100 now?arrow_forwardIncentives matter. Which of the below situations that find DOES NOT indicate a strong positive alignment of incentives with higher output and creativity? Bill Gates dropped out of Harvard to found Microsoft, which made him one of the richest men on the planet and launched the computer revolution in the process - making all of us better off too. When we are paid on commission we work harder. "From each according to his abilities, to each according to his needs."arrow_forward
- Rob decided to drive to school rather than take the school bus. What was the opportunity cost of Rob’s decision?arrow_forwardQ.4. A consultant who earns $ 100 per hour takes 4 hours off work to go to the movies. The out – of- pocket cost for the cab and the movie ticket are $12. What is the opportunity cost (in $) of going to movie? What is the total cost of the movie to the consultant?arrow_forward
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