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Suppose a country is rapidly making the transition from an agricultural-based economy to a manufacturing based economy. How do you think structural unemployment will be affected? Can you think of any measures the government may undertake to affect the structural unemployment in this case? In your answers, please make sure to define what structural unemployment is and why it occurs.
What do you think it resulted in less standing in line by pregnant women. Do you suppose and women became pregnant in prder to cut into the long lines.
A Petroleum company recently completed construction on a large refinery in Louisiana. The final construction cost was $71,000,000. The refinery covers a total of 260 acres. If the power-sizing exponent for this type of facility is .70, what is the es..
(Law of diminishing Marginal Utility) Some restaurants offer "all you can eat" meals. How is this practice related to diminishing marginal utility? What restrictions must the restaurant impose on the customer in order to make a profit?
You are given the following information about a firm's investment decision. Calculate its user cost of capital (equivalently rental cost of capital). (Round to the nearest dollar)
Consider two manufacturers, Each makes a product. The two products are partial substitutes. Priced at p_t, product i receives a demand q_1 = 15 - 2 p_1 + p_2 and q_2 = 15 - 2 p_2 + p_1. It costs $5 to produce a unit of product 1 and $10 to produce a ..
The payoff to a company that enters is its gross profit minus its entry cost, while the payoff to a company that does not enter is 60. Find a symmetric Nash equilibrium in mixed strategies.
Many television shows, movies, and songs can be downloaded for free on the Internet. Much of this material is copyrighted and was expensive to produce. Much of it is available for a fee through a legitimate site. Should you pay to download an episode..
Suppose that there are two products: clothing and soda. Both Brazil and the United States produce each product. Brazil produces 100,000 units of clothing per year and 50,000 cans of soda
How does capital investment affect the marginal physical product of labor? Does more college education have the same kind of effect?
Player 1 ("hider") and Player 2 ("seeker") play the following game. There are four boxes with lids, arranged in a straight line. For convenience, the boxes are labeled A, B, C, D. The admin of the game gives player 1 a $100 bill, and player 1 must hi..
Suppose that the equation for a demand curve is: P = 15 – 0.5Q. How much of this product could be given away? What is the total consumer surplus at a price of $5?
For each of the following cases, calculate the arc price elasticity of demand and state Wethersfield demand is elastic, inelastic or unit elastic
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