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Suppose a producers production function is f(x1x2)=5x1x2 The price of x1 is 20 and the price price of x2 is 80 The firm wants to produce 80 units What is the least costly way for the firm to produce 80 units?
What is the shutdown point? Give an example. How is the short-run defined in the production process? Please provide references if applicable.
Analyze the current market conditions of the Home Depot. Include the history of the Home Depot, the market in which it operates role of government regulations of firm and any issues that the Home Depot faces.
Does a monopolistic competitor produce more or less output as compared to an efficient level of production Explain. What are the benefits and drawbacks of this Should the government intervene to alter this
Identify and describe the four sources of unemployment and the four types of unemployment. For each type of unemployment, indicate if public policy can be used to reduce the incidence of that kind of unemployment, and if so, indicate what policies..
IS Curve Exogenous Variables and Parameters Given the values in the table above, the real interest rate r = ________ when equilibrium output Y = 15.
Consider a market characterized by the following demand and supply conditions: PX = 15 - 2QX and PX = 3 + 2QX. The equilibrium price and quantity are, respectively, a $3 and 9 units.
An economy is in long-run macroeconomic equilibrium when each of the following aggregate demand shocks occurs. What kind of gap-inflationary or recessionary-will the economy face after the shock, and what type of fiscal policies would help move the e..
Many home mortgages in recent years have been made with variable interest rates. Typically, the interest rate is adjusted once a year based on the current rates on government bonds. How do variable interest rate loans protect creditors from the ef..
Name other examples of agricultural products that have attempted to differentiate themselves. How have they differentiated their product?
Proponents argue that tolls have long ago paid for the cost of building the road; now they just provide cash for tax bureaucracy. A number of economists are opposing the repeal of tolls on the grounds that they serve to internalize externalities.
Determine the direction of comparative advantage and the limits to the relative wage rate A and B are the countries, the products are S and T and A has s=6 and T=2, and B has S=15 and T=12
Determine which system, socialist or capitalist, feudalism or mercantilism, works better? Explain your reasoning? Also, which type of business gives the owner highest protection or the most incentive to succeed?
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