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Business fluctuations refer to A. the ups and downs in overall business activity measured by changes in national? income, employment and the price level. B. the natural rate of unemployment with the emphasis on the level of frictional unemployment. C. the various types of unemployment. D. the losers and gainers from anticipated and unanticipated inflation.
Suppose you are given the following Total Product Function: ,where Q=100K ^ 3/2 L ^ 4/2 M ^ 4/7 is total output or units produces; K, capital; L, labor; and M, materials.; that is, this is a input factor production function. Find the Average products..
the nhfishercats are debating whether to build a new restroom in the leftfield area near the patio adjoining the
Bill sees a classified ad offering a used DVD player for $5. On the opposite page, he sees a big color ad from a national electronics chain offering new DVD players for $50. Bill values a DVD player at $75 as long as it works, regardless of whether i..
AutoTrader.com would like to estimate the number of years owners keep the cars that they purchased as a new vehicle. The following data shows the age of seven vehicles that were sold for the first time by their owners. Using this sample, the 90% conf..
Consider a monopolist in a market with linear inverse demand p(q) = 4 minus q/2. The monopolist's cost function is c(q) = 2q. Write down the monopolist's profit function. Compute the profit-maximizing quantity and the corresponding price. Please show..
The article is titled -NY State Wage Board Recommends $15/Hour Pay By 2021 For Fast Food Workers. Please write a reaction memo 1 page single spaced as to your thoughts, ideas, impact on economy, business owners, etc...be creative
Argentina and New Zealand each produce wheat and mutton under conditions of perfect competition, as shown on the accompanying production possibilities curves. What is the opportunity cost of producing each good in Argentina? Explain how international..
Minimum efficient scale will increase if fixed costs increase. With the opportunity for beneficial learing , a firm's lerning curve is upward sloping. The percentage change in profit that results from a 1% change in units sold equals margianl profit...
Determine the demand function and inverse demand function for good X. Graph the demand curve for good X.
The reason negative externalities, otherwise known as social costs, occur is that these expenses are generally not included in calculating the costs of production. Production decisions are generally based on financial data and most social costs are n..
In the final round of a TV game show, contestants have a chance to increase their current winnings of $1 million to $2 million. If they are wrong, their prize is decreased to $500,000. A contestant thinks his guess will be right 50% of the time. Shou..
Identify one product for which consumers normally have elastic demand and one product for which consumers normally have inelastic demand. (Use examples that are not found in the textbook.) Do either of the products that you identified have any close ..
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