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A tailor must make 8 of the same size suits for a client. The first suit took 13.1 hours to make and the last suit took 8.2 hours to make. What was the tailor's learning curve % of this run of suits assuming a steady state of production is never reached? Express your answer in % to the nearest 0.1%
Compare the magnitude of the percentage in the rental on capital with percentage change in wage in part 1. Use notation format.
"The principle of the invisible hand asserts that self-interest behavior on the part of resource-owners leads inevitably to chaos" true or false, why?
Suppose that a country has no public debt in year 1 but experiences a budget deficit of $20 billion in year 2, a budget deficit of $20 billion in year 3, a budget surplus of $10 billion in year 4, and a budget deficit of $2 billion in year 5.
The company sales forecast to double from $1,000 in 2013 to $2,000 in 2014. Here is the Dec 2013 balance sheet: Cash-$100, accounts receivable-$200, Inventories-$200, Net fixed assets-$500= Total assets-$1,000. All assets except fixed assets must inc..
Based on the analysis of the bubble policy given in this chapter, discuss why transaction costs are so important in explaining the success or failure of the EPA's bubble program. How would you devise a program that minimized the transaction costs of ..
q1. suppose that i make 15 per hour and you make 20 per hour and we both like to eat hamburgers that cost 5 each.
By itself, the substitution effect of an increase in the wage rate will
How can having panel data (with T=2 and n sufficiently large) help solve the omitted variables problem if the omitted variables are time invariant (don’t vary over time)?
When diminishing marginal returns set in total product:
Why might some firms voluntarily pay workers a wage above the market equilibrium, even in the presence of surplus labor?
Suppose that Missing Link must pay a tax equal to 40% of its gross revenue. What is the optimal number of machines for the company.
Show the balance sheets of Swede world only commercial bank after the initial deposits
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