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Determine which of the following combination of inputs is most closely reflective of decreasing marginal rate of technical substitution (MRTS)?
a. oil and natural gasb. sugar and high fructose corn syrupc. computers and clerksd. keyboards and computers
Which of the following is the best example of two inputs that would exhibit a constant marginal rate of technical substitution?
a. trucks and truck driversb. natural gas and oilc. personal computers and clerical workersd company employed computer programmers and temporary supplemental computer programmers
Utilizing the supply and demand model, explain what would happen to the supply curve during a drought. Also explain the affect on the price of water.
Illustrate what is mean by "neutrality" or "superneutrality" of money. Give examples and discuss when they are likely.
If the former, when and where was the latest ministerial meeting. If the latter, Elucidate the main features of the agreement.
Illustrate what happened to employment during the rest of 2008. What are some of the alternatives to a tax cut that might have been used.
A firm with costs C(Q) = 1,000 + 60Q + 0.1Q2 is able to price-discriminate-What would happen if it were forced to charge all its customers the same price?
Countdown to a new agreement might galvanize development assistance debates. What do you think will happen and should happen- and why.
You are planning a short-run production function for your firm, and you have collected the following data on labour usage and output: Calculate estimates of total. Average, and marginal products when the firm employs 23 workers
Illustrate what is the impact of shifts of the aggregate demand curve on potential output. Illustrate your answers with a diagram.
You are the manager of a firm that produces products X and Y at zero cost. You know that different types of consumers value your two products differently.
Elucidate the difference between a monopoly and an oligopoly, and a cartel. Provide an example of a monopoly, an oligopoly, and a cartel. Describe the welfare effects of monopolies and oligopolies.
If the reasons for the EU's high structural unemployment are so obvious, why not governments relaxing strict labor laws and reducing social charges levied on employers.
Explain how can this be sustained if people switch over to high priced goods which causes employees and companies in the lower priced goods market to go out of business.
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