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In class there was an argument that if people could accumulate human as well as physical Capital, the production function would look like the "AK" production function.
(A)If the production function is AK and the savings rate is the constant rate "S", and the rates of depreciation and population growth are d and n respectively, what would the growth rate of the economy be?
Joe enjoys fishing & goes out about 20 times per year. One day, Sara told him that fishing is too expensive of a hobby. She thinks he should stop going because she calculated that it costs about %28.75 for every fish he catches because he usually ..
The average total cost of operating a clinic is $800 per patient if the volume is one hundred patients, and $790 each patient if the volume is 110 patients. Find the total cost at each of these two volumes?
What impact does the privatization of prisons have on providing rehabilitative services that would help prisoners rejoin society productively and curb recidivism? Explain.
An asset is expected to be used in a project that will last 5 years. The MACRS property class for this asset is 3 years. If B = 10,000 and S = 3,000 at the end of year 5, determine the depreciation schedule.
How many spaghetti dinners should the firm make each day and what if the firm has avoidable fixed costs of $1562.50?
On your computer, go to an Internet search provider and type in "supervisor job openings". Choose three job openings related to a managment position that list required skills. Create a one-page summary listing the job title, job location, and the ..
A long-run supply curve is flatter than a short-run supply curve because firms can enter and exit a market more easily in the long run than in the short run is it true or false.
Are there any externalities associated with this good Explain whether the private market should provide this good or the government should provide this good. Explain in terms of whether the characteristics of the good would make it difficult to be..
Recently, the Fed is paying banks interests for their required reserves and excess reserves. This is now the fourth policy tool for the Fed to control money supply (in addition to the three policy tools summarized on p. 423.). what if the Fed want..
For this week, we are continuing our discussion on GDP and economic growth. We will realize that most of government spending goes towards welfare such as social security. However, it is a common belief that social security benefits
Explain why are prices usually higher for goods or services in London as opposed to Newcastle, or New York as opposed to San Fran?
In theory, we know that a monopolist basis its price directly off of the demand curve, but in practice a monopolist cannot 'see' the demand curve. Explain how a monopolist might set prices, even without having explicit knowledge of the shape of th..
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