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In an economy the activity of digging holes in the ground is carried out by self-employed labourers (single-person firms). The production of one standard- sized hole requires a minimum input of one unit of labour. No self-employed labourer can produce more than one hole. 1. Draw the technology set Q for a single firm. 2. Draw the technology set Q for two firms. 3. Which of Axioms 6.1 to 6.6 are satisfied by this simple technology?
As a result of the situation above what will happen to the unemployment rate,Suppose the government increases the minimum wage, substantially increasing firms labor costs.As a result of the situation above what will happen to inflation,As a result of..
Suppose that people derive utility from two goods---housing (H) and all other consumption goods(C).a. Show a typical consumer's allocation of his or her income between H and C
generally speaking many companies are interested in the potential cost savings of using the same product and
What is the marginal product of the third worker? What is the marginal revenue product of the fourth worker? What is the marginal cost of the sixth worker?
Suppose there was no threat of entry. What technology would the monopolist select? Suppose· the monopolist selects the technology you got as the answer to part (a).
Why is the interest rate on a security sold by a city government usually less than the interest rate on a security sold by a corporation if both have comparable default risk?
Calculate the velocity of money in 2007 and 2014 - Suppose the velocity of money remained constant between 2007 and 2014 and that real GDP in 2014 was equal to its actual value. What would be the value of the GDP deflator?
identify a good or service with which you are familiar. what factors have contributed to changes in the supply of and
Q#1Assume the demand curve for beer is given by P=11.7-2Q; the supply curve is given by P=Q.
How much cloth and food will the economy produce after this increase in its capital supply? F. Describe how the allocation of machine-hours and work-hours between the cloth and food sectors changes. Do those changes confirm with the changes descri..
Draw the cheese market for the United States
A design-build engineering firm completed a pipeline project wherein the company realized a profit of $2.3 million in one year. If the amount of money the company had invested was $6 million, what was the rate of return on the investment?
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