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Q. If store currently charges a cost of $50, n increases that cost to $60, Illustrate what happens to total income from shoe sales (Estimate P x Q before and after cost change)? Repeat exercise for initial costs being decreased to $40 and $20, respectively.
Ilustrate what is the marginal product of capital and labor. Does the answer depend on how much labor and capital are used.
sing specific data for an industry of your choice Elucidate how the benefits of such a policy.
Assume that your household gets a machine that cost Lesley provides you with food. Illustrate what would that do to your labor supply.
How many tickets to sell to maximize total welfare.
Elucidate any of the assumptions required for the Coase Theorem likely to be violated in an important way.
Assume that the resource and output markets are both competitive, and that it is possible to hire fractional units of the resource. Explain how many units of the resource will a profit-maximizing firm hire.
Illustrate what direction wills each of the subsequent occurrences shift the consumption also saving schedules, other things equal.
Imagine that you were the president of an emerging country that is trying to reduce the number of its imports
What could be the full increase in real GDP from the change in government spending assuming that the aggregate supply curve is horizontal across the range of GDP being considered.
You are given permission by the owner of the store to hire a fellow classmate to help out. One day you see the classmate take some clothing from the store.
You only buy apples and bananas. Your budget is such that you can purchase 3 apples and 4 bananas or 9 apples and 2 bananas. Write the equation for the budget line with bananas on the y-axis. Is that equation unique.
Comment on this trade-off between equity and growth. Explain how would you go about resolving the issue if you were the president of a small poor country.
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