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The production function for comic books is CB = 4J1/4L3/4, where J is the number of jokes and L is the number of hours of cartoonists labor that is used. If jokes cost $3 each and cartoonists' labor costs $18/hour, then the cheapest way to produce comic books requires using jokes and labor in which ratio (i.e., what is J/L)?
In what sense is inflation like a tax? How does thinking about inflation as a tax help explain hyperinflation? Answer the question in 3-5 paragraphs.
in 2009 the fed initiated a program called qe or quantitative easing to try and stimulate the economy. using a fully
You plan to purchase a car. The dealer is offering special financing at an annual percentage rate (APR) of 8 percent for 100 percent of the car value. The inflation premium is 3.5 percent. If the pure rate in the market is 3 percent, what is ..
Identify one monopoly from which you buy a good or service. Identify one monopolistic competitor that you buy a good or service from.
Jules wants to purchase a Royale with cheese from Vincent. Vincent is willing to offer this tasty burger for $3.
under what conditions will a firm shut down operations in the short run? identify an example you are familiar with or
Lisa just inherited a vineyard from a distant relative. In good years (when there is no rain during harvest season) she earns R100 000 from the sale of grapes from the vineyard. Calculate the expected value and the variance of Lisa's income from th..
Explain the differences between external costs, private costs, and social costs and how the presence of external costs leads to market failure.
question 1the smith corporation is a shoe-maker producing shoes branded p while its competitor produces shoes branded
i critically examine the effectiveness of various approaches that may be used to reduce macroeconomic instability. your
Kate has $20. Fish sandwiches cost $5, and a cup of espresso costs $4. Draw Kate's budget constraint. If espresso goes on sale for $2 a cup.
Draw a monopolistic competitor in long run equilibrium. On the same graph draw the long run perfect competition equilibrium. Describe why a monopolistically competitive market cannot reach the same equilibrium as perfect competition in the long run.
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