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Briefly describe the two main layout types. Provide the main advantages and disadvantages of both types. Which layout type do you believe promotes a more lean system? Provide an example of one of the layouts that is most relevant to you.
List the arguments in favour of a Free Trade policy and alternatively, the arguments in favour of a Protectionist policy. Which policy should be adopted, and why?
Does either player have a dominant strategy? Explain why or why not? Is there a dominant solution for this game? c) Identify the Nash equilibrium of this game. Explain.
If company wants to earn a mark-up of 50 percent on its variable costs, explain how many sets will it have to sell at price obtained in part b.
What is the opportunity cost of producing a second unit of hospitals? What is the opportunity cost of producing a fifth unit of homeless shelters?
Suppose that an economy’s production function is cobb-douglass with CRS(Y=AK^α * L^1-α ) and α=.3. What fractions of income do capital and labor receive? Suppose that the capital stock decreases by 15 percent. How much does output increase or decreas..
List three examples of government price controls other than those mentioned in the chapter. For each example, explain why government enacts the price control.
The Production Possibilities Model is one of the first Economic Models students learn about. Please explain what the mode teaches us. Please explain each of the 4 assumptions of the model. Please explain Productive Efficiency and how it relates to th..
Suppose that a calculator company operates in a perfectly competitive marketplace producing 5,000 Calculators every day.
Illustrate what is the underlying factor which seems to help clarify whether or not the economy is self-adjusting.
You earn $3,000 from a part-time job. You have a choice between spending the money now or putting it away in a bank account that pays 5 percent interest per annum. What is the opportunity cost of spending the $3,000 now?
She could also use her entire budget to buy 3 uglifruits and 8 breadfruits per day. The price of uglifruits is 8 yen each. How much is Natalie's income per day?
Two software companies, Firm 1 and Firm 2 sell competing products. Let pi and xi be the price and quantity sold by Firm i, i = 1, 2. The demand functions for Firm 1 and Firm 2are given by x1 = 1000(90 – 1/2 p1 + 1/4 p2) and x2 = 1000(90 -1/2 p2 + 1/4..
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