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Elucidate how (if at all) each of the following events will affect a country's production possibilities curve.
a. A devastating earthquake destroys numerous production facilities.
b. The number of unemployed workers decreases due to a government sponsored job creation campaign that gives privately owned firms giant tax incentives to hired currently unemployed workers.
c. The largest oil reserve ever is discovered ¼ mile directly under the undeveloped land the College owns behind the football field.
The opportunity cost of Juan's time is $8 per hour. If Juan receives $2 per pound for his fish, what is the optimal number of hours he should spend fishing.
what is the expected economic life for this water pump and what is the minimum annual equivalent cost.
From what you know about these firms' cost structure, what is the highest possible price per unit that could be existing as the market price in the long run equilibrium.
Explain how would each of these traps impact the production possibilities frontier.
Health officials have suggested that the spread of AIDS can be partly contained if more males use condoms.
What would happen if suppliers charge less than the equilibrium price for your good or service.
Why are assumptions made when utilizing a mode also thinking about economic activity. Textiles also apparel accounts for Illustrate what fraction of industrial employment in Pakistan.
Someone proposes to buy the farm from you for $1 million. Would you make more by selling the farm or keeping it
Elucidate the opportunity costs for the manager of being in this business relative to returning to his old job. what is the economic profit of the business.
Suppose a firm's inverse demand curve find the firm's optimal quantity, price also profit by using the profit also marginal profit equations.
Give a detailed explanation about how the engineer's income generation as described above affects GDP and GNP of U.S.
If the government imposes a ceiling of $6 on the price of the firm's product, Illustrate what output will the firm produce also Illustrate what will be total profits.
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