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Q1. Labor is a resource that is necessary to produce many goods. "If the price of labor falls," says the economist, "the prices of goods will soon follow." How does this work?
Q2. A manufacturer supplies popular consumer products that use a special cable. The demand is 5000 cables per week. For orders of 1 - 9, the cost is $4 a piece. For orders of 10 - 99, the cost is $3 a piece. For orders 100 - 1900 (100 pieces/case), the cost is $2. For orders of 20 cases (20 case/pallet), the cost is $1.5. The setup cost is $100 per order up to 99. For orders of less than a pallet, the setup cost is $200. The setup cost for pallet loads is $1000. The holding cost is 1% of the purchasing cost per item per week.
For every firm in group B , long-run ATC curve is U-shaped and intersects the long-run MC curve when ATC = 10 and output is 6.
Which of the variables above is NOT statistically significant at the 0.05 level.
Suppose that increased international trade makes product markets more competitivein U.S., would we expect to observe an upward slope on the WS curve or the PS curve
Hero Nakamura is CEO of the Cola King Bottling Company a small regional producer operating in the Pacific Northwest. Nakamura is considering two alternative expansion proposals
Think of any financial innovation in the past ten years
Clarke's workers are highly skilled artisans with a great deal of job mobility. What impact would the wage increase have upon the firm's employment.
As control variables, Quinn's data also includes income the individual earned in the month the data was collected, and the amount that it rained in the month the data was collected.
Provide an appropriately labeled boxplot of the data below and use a randomization test to examine whether the null hypothesis holds that male and female turtles have the same mean serum cholesterol.
Why do proponents of active policy recommend government intervention to close an expansionary gap. Some economists argue that only unanticipated increases in the money.
Discuss the Social Security System, current status and future outlook. Be thorough and focus on the economic considerations. Cite at least 6 sources.
How many units of good X will be purchased when Px=4910, determine the inverse demand function for good x.
Why might these firms agree to form a cartel. If such a cartel is formed, use the prisoner's dilemma to explain why it may or may not survive.
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