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The additional output produced by a firm as a result of hiring another worker is called the marginal product of labor. The amount by which a firm's revenue will increase as a result of hiring one more worker is called the marginal revenue product of labor. Would a firm hire another worker if the marginal revenue product of labor exceeded the market wage rate? Why or why not?
Approx the marketplace demand curve and figure the existing Price elasticity of demand
If the minimum salaries is set above the equilibrium salary, does this make a shortage or a surplus of labor, or does it create a lower wage rate
Elucidate the fiscal policy also which factors limit its effect.
Suppose that 3M has the production function q=KL, and the input prices are given by r=$2, w=$3. The 3M wants to produce 600 unit of output and minimize cost of production.
Monetary theorists maintain that to eliminate the business cycle, it is necessary to eliminate,Through 2005, the most serious U.S. trough since the Great Depression was the one that occurred in,According to monetary theories of the business cycle, fl..
The marginal external expenses associated with air pollution increases with the yearly output of a polluting industry.
Elucidate what factors besides your quantitative analysis should be considered in making this decision.
Explain how a change in investment can have big impact on GDp causing nationwide slump. Recall that investment is "small' relative to the whole economy.
A country's long -run equilibrium price level has increased, but the position of its aggregate demand schedule has not changed. what has happened? what specific factors might have accounted for this event?
How does the money multiplier change when the nonbank public decides to hold more currency relative to deposits?
Illustrate what has been the real change in Bill's net worth.
Elucidate why the MP/P relation is deficient as the sole mechanism for determining the optimal level of resource.
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