36 Recent technology has made possible a computerized vending machine that can grind coffee beans and brew fresh offee on demand. The computer also makes possible such complicated functions as changing $5 and $10 bills, acking the age of an item, and moving the oldest stock to the front of the line, thus cutting down on spoilage. With a rice tag of $4,500 for each unit, Easy Snack has estimated the cash flows in millions of dollars over the product's six- ear useful life, including the initial investment, as given in Table P7.36 LD. able P7.36 n 0 1 2 3 4 5 6 Net Cash Flow - $30 9 18 20 18 10 5 a. On the basis of the IRR criterion, if the firm's MARR is 18%, is this product worth marketing? b. If the required investment remains unchanged, but the future cash flows are expected to be 10% higher than the original estimates, how much of an increase in IRR do you expect? c. If the required investment has increased from $30 million to $35 million, but the expected future cash flows are

What is an intertemporal choice? What does it show on a budget constraint?

The attainable production points on a production possibilities curve are?

Economic models a) are precise replication of the real world  b) answer virtually unlimited numbers of questions c) result in normative statments d) make assumptions to simplfy things in comparasionwith real world

Explain the difference between positive and normative economics Consider the following two statements. In each case, explain briefly your answer: a.   A 5 percent fall in the unemployment rate will lead to a 2 percent increase in the inflation rate" b.   "Pollution in developing countries is one of the biggest global environmental problems" Which of the these  statements is an example of "positive" economics Which of these statements in an example of :normative "economics

A) Define (in your own words, please do not use the book, or other online resources) and give a strong, unique, example for the following terms. Answers will be checked for originality. Economics: exports: imports: macroeconomics: microeconomics: model: scarcity: