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Question (A)it is profitable to hire units of labor so long as the VMPL is greater than the cost to employ them, which is $200.Given that the VMPL of the seventh worker is less than $200,the manager should only hire how many workers to maximize profits
Question (B)What will be your firm's weekly profit? Explain
Explain the arguments for and against each of the three possible choices in the trilemma described by Krugman.
The radius of Earth is 6370 km, and its orbital speed about the Sun is 30 km/s. Suppose Earth moves past an observer at this speed. To the observer, by how much does Earth's diameter contract along the direction of motion
What sum should you deposit into an account to yield 20 year end payments, starting with $10,000 at the end of the first year and increasing by 4% each year at an interest rate of 8% compounded quarterly
Suppose you have $20,000 cash today and can invest it at an interest rate of 10% compounded each year. How many years (to the nearest one-tenth year, xx.x) will it take you to become a millionaire
Suppose that the natural rate of unemployment in a particular year is 5 percent and the actual rate of unemployment is 13 percent. Use Okun's law to determine the size of the GDP gap in percentage-point terms.
Suppose that unionization levels-up the wage to $130: Both types of teachers earn a wage of $130. Use your supply curves to compute the number of average and high-quality teachers. How has the composition of the workforce changed?
Calculate the total revenues for each price-quantity demanded combination (for example, if one were sold at $5, the total revenue would be $5). What happens to total revenue as price goes down in the elastic portion of the schedule
The defendant countered that it should only be liable for $27, the cost of sending the message. Under what conditions, if any, should the plaintiff recover the $7,000? What case should the court invoke as precedent in making its decision?
What is liquidity? Rank the following assets in order of their liquidity: $10 bill, personal check for $20, savings account with $400 in it, stereo, car, house, travelers' check.
In the following table, enter this difference in the boxes across the last row (marked "Increase in consumption").
What is the own price elasticity of demand when Px = $154? Is demand elastic or inelastic at this price? What would happen to the firm's revenue if it decided to charge a price below $154.What is the cross-price elasticity of demand between good X ..
How can museum collections of peppered moths help to find evidence whether the dark morph had a selective advantage during the industrial revolution
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