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A barber shop produces 192 haircuts a day. Each barber in the shop works 8 hours per day and produces the same number of haircuts per hour. If the shop’s productivity is 2 haircuts per hour of labor, then how many barbers does the shop employ?
Suppose the demand for tablets is given Q = 2000 - 10 P. Where Q is the quantity demanded and P is the price of tablets. Plot the demand curve. (Price in the vertical and quantity in the horizontal axis) What is the inverse demand?What is the slope o..
A news article in the Edmonton Journal on December 2014 stated that, “The province is looking at cutting 70 of the Alberta Law Enforcement Response Team’s 280 positions to save money.” Explain the basic idea behind using a statistical instrument (or ..
Find the effective interest rate per quarter at a nominal rate of 8% compounded (a) quarterly, (b) monthly, (c) weekly, (d) daily, and (e) continuously?
Suppose the supply of coal is perfectly inelastic, and the price elasticity of demand for coal is -0.4. If the government imposes a binding price ceiling for coal at a price that is 20 percent below the market equilibrium price, what is the impact of..
You are considering a luxury apartment building project that requires an investment of $12,500,000. The building has 50 unites. You expect that the maintenance cost for the apartment building will be $250,000 in the first year, and to rise to $300,00..
In "Final Jeopardy" (pp. 234-242), Stephen Baker expresses an interesting look at the way technology, especially in terms of machines, could dramatically change the relationship between mankind and technology—not just helping us to locate information..
illustrate what does this mean for the survival of small firms in the industry.
The City of Brandon is installing a new swimming pool in the municipal recreation centre. Two designs are under consideration, both of which are to be permanent (i.e., lasting forever). The first design is for a reinforced concrete pool that has a fi..
the impossible trinity refers to the idea that a country can simultaneously pursue only two of the three following
The study of government regulation and the competitive environment for business is relevant to all those who study business. All business candidates need to understand how the competitive environment will impact their employers and businesses.
What role did the wartime conferences involving Roosevelt, Churchill, and Stalin play in the coming of the Cold War? Analyze those conferences from the standpoint of American national interests.
An increase in the uncertainty of the future profit stream of projects will (assume no wealth effect or other change in the investment decision rule, or shift in the production function)
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