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Suppose Amy's Applesauce company produces jars of applesauce. The chart below shows the total number of applesauce jars produced for a given number of workers.
a) Fill in the marginal physical product of labor for each level of production
b) Now suppose each jar of applesauce sells for $5. Fill in the marginal revenue product of labor for each level of production.
Refer to the above data. If the product price is $75 at its optimal output, exactly how many units should be produced to maximize profits or minimize losses? How much will the profit or loss be?
1. The three fundamental economic questions of what, how, and for whom: a-exist because of scarcity. b-are much more serious in a socialist system. c-are not serious in a capitalistic system. d-are not relevant in the industrialized world of today.
A delivery company is considering adding another vehicle to its delivery fleet, all the vehicles of which are rented for $100 per day. Assume that the additional vehicle would be capable of delivering 1750 packages per day
Capital expenditure of government of India.
A union organizes in one of the sectors, and it restricts supple to that sector by insisting that only those in the union are hired by firms in that sector. When the employees in this sector unionize, the supply of labor in that sector changes to..
Consider a hypothetical island with only ten people. Eight have income of $10,000, one has income of $50,000, and one has income of $100,000.
An oil company contemplates investing 100 million dollars per year (in constant dollars) for five years in exploratory work to confirm the existence of new exploitable reserves.
data collected in the imaginary economy of Perturbia reveals that when the price of cham increased by 20%, the quantity of cham sold decreased by 30%, and the quantity of firm demanded increased by 15%.
Third National Bank is fully loaned up with reserves of $30,000 and demand deposits equal to $100,000. The reserve ratio is 5%. Households deposit $20,000 in currency into the bank. How much excess reserves does the bank now have
The price elasticity of demand for fresh tomatoes has been estimated to be 2.22. If a new insecticide and fertilizer treatment yields a 20% increase in the nation's fresh tomato crop, how will that affect total revenue from fresh tomatoes, all oth..
Identify and document six (6) credible sources (two (2) for each topic) that you would expect to use. Note: Wikipedia and other Websites do not qualify as academic resources.
Remember that a good essay begins with an interesting introductory paragraph with a focusing thesis statement, then moves to body paragraphs that support the thesis using specific elements from the story (including commentary, analysis, reflection..
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