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Question: Suppose that there are two industries, one producing X and the other producing Y, which each use both capital K and labor L in the production process. The marginal rate of technical substitution in the Y industry is MRTS =4K /3L and in the X industry is MRTS =7K /2L . Define pareto efficiency and Y X y y x x determine the relationship between the capital-labor ratios in the two industries when production is efficient. Draw the contract curve for efficient production and explain the relationship of the contract curve to the production possibilities frontier.
Which of the following goods most satisfies conditions for a public good? A polluting firm can be compelled to ____a negative externality if the government ___.
Suppose that after graduation you take a job with an employer that oers to pay full tuition for employees wishing to return to school to get an MBA degree during non-work hours. You are not required to continue working for the rm a..
How does the technology of agricultural production in use differ in, say, the Sudan from that used in a developed nation, like the United States?
determine if for the good marked with all cap lettering if there is an increase or decrease in demand.a.a new fashion
imagine that you have a fixed 30-year interest rate for your mortgage and the economy has experienced unanticipated
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What are the 3 required assumptions for the appropriate use of the independent grp.T-test
Assume there is an increase in the price of electricity (which is the result of a decrease in the supply of electricity), and electricity and natural gas are substitutes. How would this affect the demand for natural gas, and what would happen to the ..
Suppose the government imposes a price ceiling on gasoline. One month after the price ceiling. Explain why the critics estimates might still be correct.
What is the definition and what are the characteristics of a recession? What is the definition and what are the characteristics of a recovery?
The owner wants the recommended charity/philanthropy to be a strong and powerful match for the mission and work of the company. He/she doesn't want a generic charity; he/she wants a charity that resonates with the goals and aims of his company he/..
What are the six main causes of market segmentations? What are the main disadvantages for a firm to be located in a segmented market?
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