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Technology effects on price elasticity of demand
Assume that over time, engineers develop new residential furnances that can run on diferent types of fuels, eg. natural gas, electricity, propane, and fuel oil simply by flipping a switch on the furnace. How would this technological change affect the price elasticity of demand for natural gas? Why?
Findout the number of hours of skilled labor also the number of hours of unskilled labor which minimized the price of doing the project.
Explain what happens to the position of the nation's short-run Phillips Curve if the following events occur:
Ms. Fogg is planning a trip where she plans to spend $10,000-What is the maximum amount that Ms. Fogg is willing to pay to insure the $1,000?
Making dresses is a labour-intensive process. Indeed, the production function of a dress-making firm is well described by the equation Q = L - L 2 /800, where Q denotes the number of dresses per week and L is the number of labour-hours per week.
When and why were the inflation and unemployment rates negatively correlated? When and why were the inflation and unemployment rates positively correlated?
You are a manager in a perfectly competitive market. The price in your market is $35. Your total cost curve is.
Assume that the soft coal industry is a competitive industry and it is in long run equilibrium. Now assume that the firms in the industry form a cartel.
Suppose Sally only purchases food and clothing, and her utility can be expressed as U = F _ C. Currently-What is her optimal bundle?
How much will this consumer be willing to pay for the product if the firm offering the reliable product includes warranty that will protect the consumer? Explain.
If I have to lay-off 19 employees as the company is upside down -$1878.00 after total cost. So, by cutting staff of 19 with a salary of $100 per day, an eight hr day, how much will I save.
What is opportunity cost? Explain with the help of an example, why assumption of constant opportunity cost is very unrealistic? Explain law of demand with the help of a demand schedule and demand curve.
skills are required for current also future employees to possess for the organization to be successful
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