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Using a production possibilities curve, explain (using narrative and graphs) the opportunity cost principle. Please provide a “real-world” example where this principle would be applied in the public/healthcare/nonprofit sector.
When 50 employees are used, the average product of labor is 50 and the marginal product of 50th worker is 75.
question 1 suppose the following are national accounting data for a given year for malaysialtst1country-regiongt
Consider the following marginal abatement costs (MC) for a firm using an old abatement technology, where costs are in thousands of dollars. MC=0.5Q a) Assume that the regulatory authority has set an abatement standard (QST) equal to 40 units fo..
Delmar Custom Homes (DCH) uses two types of crews on its Long Island, NY, home construction projects. Type A crews consist of master carpenters and skilled carpenters, whereas B crews include skilled carpenters and unskilled labor.
Using the perfectly competitive labor demand and labor supply model, what would happen, all else equal, to the real wage and the number of workers in each of the cases below: A. There is an increase in the amount of physical capital as a result of po..
Using the library or the Internet, find some recent projections for the future path of the U.S. govt. debt as a percentage of GDP. What assumptions are made about (i) govt. spending, (ii) taxes, and (iii) economic growth?
suppose the consumtion function is c 500 billion 0.9y and the government wants to stimulate the economy. by how much
Describe the economic causes also consequences of environmental devastation and its impact on achieving sustainable growth and development.
will there be an inflationary or expenditure gap or a recessionary expenditure gap if the full employment level of
Provide the demand curve in part a, what is the equilibrium price and quantity. If consumer income increases to 30,000 what will be the impact on equilibrium price and quantity.
why it is important that prices are flexible in our economy?what happens if the government controlled the level of
Suppose that Congress enacts a lump-sum tax cut of $750 billion. The marginal propensity to consume is equal to .075. Assuming that Ricardian equivalence holds true, what is the effect on equilibrium real GDP On saving
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