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Suppose, unfortunately , your mathematics and economics professors have decide to give tests 2 day from now and you can spend only a total of 12 hours studying for exams .After some thought, you conclude that dividend your study time equally between each subject will give you an expected grade of C in each course For each addition 3 hours study time for one of the subjects, your grade will increase one letter for that subject, and your grade will fall one letter for the other subject.
a. Construct a table for the production possibilities and corresponding number of hours of study in this case. b. Plot these production possibilities data in a graph. c. Does this production possibilities curve reflect the law of increasing opportunity cost? Explain.
Assuming that input prices do not vary with the level of output, does this production function display economies of scale? b.The firm is producing in the short run with capital fixed at 9 units. The fixed costs of the firm are $1000 in the short ru..
Find the quantity at which diminishing marginal returns set in and if the monopolist's goal is to maximize profits, and the monopolist charges all customers the same price, determine the optimal level of output.
Developing countries in the "Global South" turned to socialism in the past as a means to solve their economic problems.
Why is it not surprising to find that in the oligopoly which sells basically undifferentiated product like chicken growth hormone all the firms change prices simultaneously, even if there is no explicit price fixing?
Which of the Supply Factors do YOU believe will be most important for the future growth of the U.S. economy? WHY? Briefly explain what we mean by labor productivity. What is its most important determinant?
My problem needs to be presented in paragraph form and reflected in a LP equation, showing the objective function and the constraints.
Using the data on costs and benefits provided what is the NPV and BCR associated with the project given a BCA period of twenty-eight years?
If the economy currently has a frictional unemployment rate of 2 percent, structural unemployment of 2 percent, seasonal unemployment of 0.5 percent, and cyclical unemployment of 2 percent, what is the natural rate of unemployment? Where is the ec..
High capital-asset ratios are desirable as they offer a buffer against non-performing bank loans.The ratio is defined as the excess of bank liabilities over assets.
When the Great Depression caused a slump in diamond prices, De Beers Consolidated Mines undertook successful efforts to control the world supply of uncut diamonds and to increase consumer demand for cut diamonds. The company was able to increase c..
New Horizons Airlines wants to forecast the mean number of unoccupied seats per flight to Germany next year.To develop this forecast, the records of 49 flights are randomly selected from the files for the past year, and the number of unoccupied sea..
This briefing is particularly important because of the global financial crisis that began in 2007. The briefing is required to provide more foundation for the finance team because they are not well versed in international aspects of finance.
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