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The marginal revenue product of labor at the local sawmill is MRPL = 20 - 0.5L, where L = the number of workers. If the wage of sawmill workers is $10 per hour, then how many workers will the mill hire?
Choose from these topics: Emerging health care reform, managed care, total quality improvement intergrated care delivery systems e.g. alliances, network, mergers, organizational downsizing. Analyze how each has changed delivery on both macro and micr..
Assume that the currency-deposit ratio is 0.5. The Federal Reserve carries out open-market operations, purchasing $1 million worth of bonds from banks. This action increased the money supply by $2 million. What is the reserve-deposit ratio?
Find the equilibrium interest rate. Now suppose that G rises to 1,250. Compute private saving, public saving, and national saving. d. Find the new equilibrium interest rate.
Assume that the market basket is defined as 1 hammer, 1 lawn mower, 1 unit of groceries for the year, and 2 bicycles. a. Compute the cost of the market basket for each year. Calculate the CPI four times. Use 2005 as the base year the first time, then..
The following information is available for an economy: Consumption function: C = 220 + .8(Y-T) Investment: I = 400 Net Exports: NX = -140 Full Employment or Potential GDP = 3500 Currently, Calculate the current level of (equilibrium) GDP. Suppose tha..
Suppose that the currency-to-deposit ratio is 40 percent and that the excess reserve ratio is 1 percent, whereas the required reserve ratio is 9 percent. Calculate the effect of an open market sale of $10m on the money supply (M), checkable deposits ..
Is it wrong for Walmart to fight Unionization? Sam Walton always felt the company should function as one big happy family and that the unions.
Based on market research, Drexoogle has determined that the market demand for this product is Q = 2000 – p, where Q is in thousands of earpods and p is in dollars. Drexoogle’s cost function is 1000Q (there are no fixed costs). First, suppose that Dre..
When a construction possibilities frontier is bowed out, away from the origin the opportunity cost of a good.
Explain how much smaller (in percentage terms) is each generation than the previous generation.
Solve for market equilibrium price and quantity. Illustrate your answer with a diagram of market. What are dollar values of consumer and producer surplus.
A monopoly market is characterized by the inverse demand curve P = 1,200 40Q and a constant marginal cost of $200. If the marginal cost of production rises to $400, what happens to the profit-maximizing price and output level?
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