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a. The labor supply function is given by N=1000+12w and labor demand is N=2000-8w. Find the equilibrium level of employment and wage.
b. Given existing technology and the capital stock, output is given by the function Y=100N. Does the function exhibit diminishing marginal product of labor?
c. Using the labor market from part (a) and the production function from part (b), determine the equilibrium level of output for this economy.
President Bill Clinton assigned his wife the task of developing a national health insurance plan to increase the availability of medical care for the poor. Explain how would one determine the opportunity cost of the proposal.
In which directions are they pushing or pulling the U.S. economy. Also, do you think the gap between real GDP and potential GDP will widen or narrow.
When the price of gasoline increased from 3 to 4 dollars per gallon, the demand for gasoline decreased from 100,000 gallons to 90,000 daily. Also, the demand for a $50,000 SUV dropped from 3000 to 2500 cars per month. Estimate the price elasticity of..
Frequently result from radioactive transportation accidents due to the large number of such shipments
Please explain how the value is created using marketing and supply chain strategies by the dealer/retailer in this supply chain, Lowe's Companies.
The marketplace demand for a type of carpet produced by a monopolist known as KP-7 has been estimated
mission or vision and processes of the school/ISD?
What will be the final level of production for the market (after a Cournot equilibrium is reached)? How much is produced by each firm?
An economy with nominal tax rates significantly higher than effective tax rates has
Construct a Capital Allocation Line for a portfolio consisting of the T-bills and the risky portfolio. Draw the line and indicate the y-intercept and the point where the portfolio is entirely made up of risky assets. What is the slope of this line?
In looking at market structures we often see that monopolies are sole providers of a good or service. In looking at utility companies, why are they typically awarded the ability to be monopoly from government?
Elucidate what is the marginal opportunity cost of 1,000 garments of clothing in the range between points B and C.
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