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Suppose you are building a Java application for storing the names and ages of children in a family. Describe the strategy that you would use in order to determine the data types you would need for your application. Provide three data elements and the corresponding data types that you would use in your application. Provide a rationale for your response and provide constructive feedback on strategies and rationales posted by your peers.
Consider a firm where production depends on two inputs labor and capital with prices w and r, respectively. Initially the firm faces market prices of w = 4 and r = 8. These prices then shift to w = 8 and r = 8. What is your prediction for the firm's ..
An engineer is working on the layout of a new research and experimentation facility.
"If we allow free trade in the automobile industry, some automobile workers will lose their jobs. This unemployment will make society worse off." What advantage of free trade does this argument overlook? How might the unemployment be alleviated at lo..
When there is a lack of competition, you will find that market prices are going to be higher.
Describe equivalent variation in words assuming the price of a product is rising. Provide a supporting diagram and ensure diagrams are labeled.
Analyze the differences and similarities among firms for two different market structures: Monopoly and Monopolistic Competition. Clearly demonstrate how both types of firms determine the quantity (Q) to produce that maximizes profit.
Calculate the APP, MPP and elasticity of production at different production levels and how many stages of production does this function represent? Mention them.
“Understanding public policy is both an art and a craft.” (Dye, 2010, p. 8). Explain how policy makers can perfect their craft for the betterment of society. Respond to at least two of your fellow students’ postings.
Elucidate why does a starbucks coffeehouse face a downward sloping demand curve, while a wheat farmer faces a horizontal demand curve.
What are the short and long run effects of the Federal Reserve steadily increasing the money supply?
Find the information on GDP in billions of current dollars for the past four quarters. In U.S. Economic Accounts under National click on Gross Domestic Product
Why is this the case and how does it relate to the marginal product of labor (MPL) in each sector and the production possibilities frontier (PPF)?
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