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In 2008 output for the country of OZ was 12,000 tons of potatoes and the total labor force 1,100 workers. In 2009 output for the country of OZ was 14,300 tons of potatoes and the total labor force 1,150 workers. The growth rate of average labor productivity between 2008 and 2009.
What is the marginal propensity to consume in this economy? What is the multiplier in this economy? What is the equilibrium level of GDP in this economy?
Suppose that a firm maximizes its total profits and has a marginal cost (MC) of production of $8 and the price elasticity of demand for the product it sells is -3. Find the price at which the firm sells the product.
Assume that all states adopt a serious no-fault rule to cover automobile accidents, so that it becomes impossible to sue for damages after an accident.
Plato, a Greek philosopher who lived from 427BC to 347BC, famously wrote that, "Necessity is the mother of inventions."you agree with this statement.
Explain how does the availability of substitutes affect purchasing decisions.
A profit-maximizing monopolist never produces in the inelastic part of a linear demand curve. The short-run supply curve of a competitive firm is its MC curve.
Recently submerged kingdom of Atlantis is populated through identical rational air breathing individuals. The king has decided to give an award to the industry whose product yields kingdom most economic value.
Obtain annual data for a series of economic indicators from the ABS National accounts database. The economic indicators you are required to research are annual growth rate for GDP
Use concepts that you have learned throughout the semester, such as consumer and producer surplus, scarcity, and how companies decide where to price products and how much to produce, and how we as consumers decide at what price we will purchase a ..
Assume the Disney Company was experiencing above normal benefits. What would you predict would happen over time
Think a nation with no income maintenance program that enacts an Earned Income Tax Credit similar to United States.
Examine present global economic and political policies and their impact on business decisions.
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