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1. What is the law of diminishing marginal productivity? How does it differ from average productivity?
2. What is derived demand? What is the relationship between the productivity of an employee and his or her wages?
Demand and supply schedules
Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"
In the competitive market, the market demand is Qd=48 - 5p and the market supply is Qs = 7P. The equilibrium price is4
In the absence of a quota, what is the equation for the total supply of wine? Show your work - what are the equilibrium price and quantity of wine? Show your work.
Aztec Enterprises depends heavily on advertising to sell its products. Management at Aztec is allowed to spend $2 million monthly on advertising, but no more than this amount.
Write down the difference between Equilibrium price and Equilibrium quantity. What role does elasticity place?
Describe the effect of each of the following events on the market for labor in the computer manufacturing industry. Use graphs.
Political Economy GV307 : Consider the model of “no theft” where the consumer pays the official government price plus a bribe in order to obtain X. Assume that the official marginal revenue for selling the good in this context is given.
Question about micro economics- Sam Smith owns an internet radio company that has subscribers in Houston and Dallas
Consider the price-taking firm in competitive industry for raw chocolate. The market demand and supply functions for raw chocolate are estimated to be
Suppose that the market for radios is perfectly competitive and there is the simultaneous increase in supply and demand. What can be said about the new equilibrium relative to one before the shifts in supply and demand occurred?
"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"
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