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Sketch a per-worker production function in the diagram that illustrates the law of diminishing marginal returns. Identify the level of output per worker produced given k capital per worker.
What term would economists use to describe what happened in year 3 Expansion OR Recession If the growth rate in year 3 had been a positive 5 percent rather than a negative 2 percent, what would have been the average growth rate
A local lending institution advertises the "51-50 Club." A person may borrow $2000 and repay $51 for the next 50 months, beginning 30 days after receiving the money. Compute the nominal annual interest rate for this loan.
All costs are given in thousands of dollars and negligible salvage values are assumed at the end of a 50-year life. Using a social interest rate of 8% in the Benefit/Cost analysis, determine which project(s) should be selected if the alternatives ..
There are currently 10 identical firms in the perfectly competitve gadget manufacturing industry. Each firm operates in the short run with a total fixed cost of F and total variable cost of 2Q^2, where Q is the number of of gadgets produced by eac..
1. How do you know that the firm represented in the graph above is a purely competitive firm 2. To maximize profits, this firm will produce at what output level (one letter) 3. Explain why this MR=MC position is the profit-maximizing position for any..
What disagreements did Keynes have with classical economists?
Based on the information provided above, what should be the expected returns for A, B, and C according to CAPM? If you believe CAPM is correct, which securities do you want to favor and which securities do you want to shy away from?
What is the link between changes in the capital stock and the level of productivity (output per worker) in the long run? What is meant by capital deepening?
What product will Home export, and which product does Foreign export? Briefly explain why.
The price of a cone is expressed in cents, and the quantities are expressed in cones per day. a. Create demand & supply tables corresponding to these equations. b. Graph supply and demand and determine equilibrium price and quantity
If the average person drinks 2 bottles of water per day or uses 5 gallons per day in getting that amount of water from the tap, what are the present worth values of drinking bottled water or tap water per person for 1 year
1. the data set provided to you gives information on employee wages and years of education beyond high school. do the
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