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Economic theories and models are concerned with economic variables and variables are measures that can take on different sizes. Explain how an interest on a student's loan is a variable?
Suppose there are n identical firms in a market. each firm's cost function is given by C= 240+14q^2, where q is the amount that an individual firm produces. this means that an individual firm's marginal cost is given by MC = 30q. Also, the market ..
What is the impact on the firm’s employment level from the following events, according to the marginal productivity theory of labor demand?
Have you been personally involved in the making of a decision for a business concerning what, how, or for whom? If yes, Elucidate your rationale for making such decisions.
Explain how would the number of workers hired (variable input) change. This is a profit maximizing firm, also explain the profit maximization condition the firm uses.
What is the largest single deposit outflow can the bank comfortably handle, using only primary and secondary reserves? Note that even after this outflow the bank should have sufficient required reserves. Find it to the nearest whole dollar. Comput..
Sketch Sally's indifference curves and explain her consumption choices in term of marginal utility.
Assume you were doing lunch with your best friend who just enrolled in an economics class. He was complaining about how irrelevant the class was,
In March 2007, the US unemployment rate was 4.4 percent. In August 2008, the unemployment rate was 6.1 percent. Use this information to predict what happened between March 2007 and August 2008 to the numbers of
If the numbers of home and commercial users are equal, and you cannot distinguish between commercial and home users, what is the most profitable pricing strategy.
Suppose the Federal Reserve lowers its target for the federal funds rate six times in seven months while the European Central Bank leaves its target for short term interest rates unchanged.
define the union wage gain and the union wage gap. why should we care about the magnitude of the union wage gain? why
Jack's faces the following demand function for its Jack in the Boxes: Q = 13000 - 8P. Jack produces the Jack in the Boxes in two facilities. The cost functions in each facility are:
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