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Q1. Labor costs $12 per hour. Nine workers produce 180 bushels of product per hour, whereas 10 workers produce 196 bushels. Land rents for $1,200 per acre every year. With 10 acres worked by 9 employees marginal physical product of an acre of land is 1400 bushels every year. Does the farmer minimize costs by hiring nine workers and renting 10 acres of land? If not, which input should he use in larger relative quantity?
Q2. If there is a 10% decline in the cost of women's fur coats and a 25% increase in quantity demanded Illustrate what is the elasticity?
What are some of the other key roles in the Planning Process.
Explain the role culture may play in influencing entrepreneurship both at the individual and social level. Define culture in your response.
Illustrate now have to lend out how much does this bank if it decides to hold only required reserves.
Determine if you should go into your own solo private practice or to join a specialty group of physicians.
Assuming that the marginal cost is zero to provide the rides to those in attendance, what is the best pay-per-ride price
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Subsequently the customer paid the balance on 22 October 2012. To customer the Credit terms offered.
Does a persistent balance of payment deficits result in a pressure to devaluate the currency.
Now suppose the factory develops an innovation that allows it to produce a shirt for the equivalent of 1 loaf of bread. What is the new radius of the factory's market area.
Old Economy Traders opened an account to short sell 1,300 shares of Internet Dreams at $46 per share
Discuss the pros and cons of annuities when compared with other financial instruments and whether they provide a better investment opportunity for some people.
Visualize you are a manager for good or service used. From results of the deterioration equation, recommend strategies to either preserve demand if an increase over 3 periods occurs or improve demand
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