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Assuming that labor is the only variable input, why does the marginal cost curve slope upward? Marginal cost may decrease at low levels of output, but we assume that it eventually begins to increase, and continues to increase as output increases. Why?
The United States, Brazil,and Argentina are land rich and efficient farming countries. Which countries have large pools of low cost labor? How do countries with no natural resources manage to manufacture and export large quantities of goods?
The market for physiotherapists is competitive. Chiropractic services and physiotherapy services are substitutes. Currently the price per visit is $40 and the quantity utilized is 30,000 visits annually. Physiotherapists face stiff competition from c..
A battery in a critical tool fails at 32 hours. Illustrate what is the probability it was from manufacturer 2
Why is it important to ensure Organizational ethics are communicated to stakeholder consistently? How can this be achieve? Give examples to support your arguments.
Tina is very particular about her purchases: She only buys hot dogs and soda, and every time she makes purchases she buys exactly three hot dogs and soda. She would never buy three hot dogs without a soda, and would never buy a soda without three hot..
(The Long-Run Industry Supply Curve) A normal good is being produced in a constant-cost, perfectly competitive industry. Initially, each firm is in long-run equilibrium
Suppose you have 5 stocks. In the past week they have changed in the following way: +5,1,+2,3,2. For each of the value functions from the previous problem, determine what the optimal way to bracket stocks into a portfolio to maximize the value.
Which do you believe is more important for a firm’s financial efficiency and success: economies of scale or the learning curve?
The Federal Reserve chairman acknowledged the economy was in a recession. What actions might the federal government take to give the economy a boost?
The total utility for water is higher than the total utility for diamonds. You can explain the diamond-water paradox (that diamonds are expensive but not necessary for survival / not as useful, while water is inexpensive yet necessary for survival / ..
Suppose the government were to subsidize the wages of all women in the population by paying their employers 50 cents for every hour they worked. What would be the effect on the wage rate women receive? What would be the effect on the net wage employe..
What is the argument made by minimum wage laws critics who argue that they create more unemployment than would otherwise be the case? Which Apple supplier has come under intense scrutiny (especially in China) these last few years over its labour prac..
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