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The table above shows the total output each week of workers in a perfectly competitive apple orchard. The equilibrium price of a kilogram of apples is $4. Complete the Marginal Product of Labour and the Marginal Revenue Product of Labour columns in the table.
Why are there two equilibria in the Diamond-Dybvig banking model? How do the two equilibria compare?
Construct a 95% confidence interval for the change in the population mean of rahe in 1992 and 2012, measured in real 2012 dollars. Construct a 95% confidence interval for the mean of rahe for high school graduates.
Why would a country have trade assistance programs? What makes them difficult to implement?
Assume that everyone agrees that global warming is both real and caused by humans. Give two major reasons why bargaining in the spirit of Coase is unlikely to resolve the problem of excess carbon emissions.
A competitive firm uses a single input x to produce its output y. The firm's production function is given by y = x3/2 for quantities of x between 0 and 4. For quantities of a greater than 4, the firm's output is y = 4 + x.
Contrast the economic rationale for patents and copyrights (time-limited property rights in ideas) with that for adverse possession (time-limited property rights in land).
The opportunity cost would be $200 in forgone wages for the ten hours he worked planting $100 in seeds, right The accountant would measure revenue-explicit cost= profit The economist would measure revenue- explicit and implicit cost=profit
Market research has revealed the following information about themarket for chocolate bars: The demand schedule can berepresented by the equation Qd =1,600 - 300P whereQd is the quantity demanded and P is the price.
Sara has $12 to spend on popcorn and cola. Popcorn is $3 a bag, and cola is $3 a can. Figure 1 illustrates Sara's preferences. Use Figure 1 to work Problems.
Plot capital as a function of the herring stock and entitle sheet 6 and your graph as "forecasted data." Describe what happens to stock and capital. Write your response in sheet 6.
Present an idea for a new training program or component to the existing training program which would promote employee engagement
In a hypothetical economy, the monetary aggregate M1 equals 120,000 pesos, and M2 equals 320,000 pesos. The following information about this economy is also available: Money market deposit accounts 80,000 Amount of currency held outside of banks.
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