According to economists, one reason few professional athletes have phd’s is that the: a. marginal cost of going to graduate school is too high. b. explicit cost of going to graduate school would be too high. c. comparative cost of going to graduate school is too high. d. opportunity cost of going to graduate school is too high. e. marginal benefit of going to graduate school is too high.

Managers in a firm hired to improve the firm's profitability and ultimately the shareholders' value will add to the overall costs if they pursue their own self-interests. what does this best illustrate? a. diseconomies of scale b. principal-agent problem c. experience-curveeffects d. information asymmetries

What are the weak points of economic costs that are part of a free enterprise economy?

Brody and tanya recently sold some land they owned for $150,000. they received the land five years ago as a wedding gift from brody's aunt jeanette. she had already given them cash equal to the annual exclusion during that year. aunt jeanette purchased the land many years ago when the property was worth $20,000. at the time of the gift, the property was worth $100,000 and aunt jeanette paid $47,000 in gift tax. what is the long term capital gain on the sale of the property