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Question: 1. Construct your own example of a function that has a turning point. Check the second-order conditions to confirm whether this turning point is a maximum or a minimum.
2. A firm attempting to expand output in the short-run faces the total product of labour schedule TPL = 24L2 - L3. At what levels of L will
(a) TPL,
(b) MPL, and
(c) APL be at their maximum levels?
Consider two countries, Canada and China. Canada has comparative advantage in oil production, and China in shoes production. Suppose China grows biased to oil production.
Besides the variables included in the wage regression in Tables and, what other variables would you include?
Elucidate the difference among the consumption of a free good and a good that is not free.
In 2008-2009, the nation economy retrenched in the wake of a global financial crisis. Did the globalization of capital markets contribute to this crisis.
How can I explain explain the market equilibrating process in relation to the following: Law of demand and the determinants of demand
What is the term for a situation when the quantity demanded of a good falls when the price of a good rises, other things are equal?
In a perfectly competitive market suppose that a competitive firm's marginal cost of producing output q is given by MC(q)=3+2q. Assume that the market price of the product is $9:
Immigration is a major topic of concern in today’s economy. What are the possible problems and solutions for theseconcerns? What could happen to the U.S. labor markets ifimmigration is not controlled
monetary value of all final goods and services produced within a nation in a particular year.
How can Diva demystify what happens behind The scenes and make potential generaton Y employees aware of the opportunities available to them beyond the shop Floor?
Consider current budget problem of many states. What is it Explain. What are the two basic choices for them to get out of financial trouble Explain the impact of each. Why are some states playing for a federal bailout if needed
Use the following information to answer the questions. Compute real GDP for 2004 and 2005 using 2004 prices. By what percent did real GDP grow?
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