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Assume that total output is determined by the formula: number of workers × productivity = total output (output per worker) If an economy's productivity increases by 5 percent but the number of workers declines by 3 percent a year, how will the output change per year? (Round to hundredth percent)
Pick a good or service you are familiar with. Speculate how the price for that good or service may have been set and how well this price maximizes profit for the company and determine what shifts the company should make in its pricing strategy.
Find the market price, the quantity produce and the profit of each firm and what is the number of firms in the long run equilibrium?
Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..
The highest quantity of lobsters demanded and what is the marginal net utility (consumer surplus) when the market price is $ 4.00 per lbs. why?
When do assumptions create in conjunction with economic theorizing have to become realistic? Can unrealistic assumptions provide useful outcomes?
Find the probability that on a given Tuesday more than 30 students will be absent and compute the expected value of X
Explain how you would modify the data in order to make it relevant to decisions a manager must make. Explain the major factors that affect the degree of competitiveness in your industry.
Mutual funds: Provide another source for borrowers to take out a home mortgage. Provide another source for borrowers to take out a home mortgage.
Discuss and explain one factor of how government involvement in marketplace can impact or not impact the economy. Give a real life example of this factor at work.
Find the supply function for the hospitals and Suppose the hospitals merge into one umbrella organization to improve their bargaining position. What would the new price and equilibrium be?
What is the monopolist marginal revenue function and find the monopolist profit maximizing quantity and price and the deadweight loss of the monopolist.
If the ce If the of Pepsi-Cola increases from 40 cents to 50 cents per can and the quantity demanded decreases from 100 cans to 50 cans, then, (according to the arc price elasticity formula,the same formula used in class).
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