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The president of a large teaching hospital may earn multiples of the salary of the president of a smaller, community hospital. However, physicians employed by the emergency rooms of the two hospitals will have very a much smaller variation in salary. Explain.
Assume the demand for plastic surgery is price inelastic. When the price of plastic surgery increases, the number of operations decreases. The percentage change in the price of plastic surgery is less than the percentage change in quantity demanded. ..
Discuss if you think policy makers truly represent the citizenry or are they pressured by third party special interest groups that support their campaigns. Shou
A water utility for a growing city is considering expanding their capacity by investing in a larger system of wells. Their long-run marginal cost of water provision is characterized by the function MC(q) = 5 + 2 3 q (q is in thousands of gallons). De..
Suppose that survey measures of consumer confidence indicate a wave of pessimism is sweeping the country.
Assume that Erin now has preferences such that she prefers the cash gift. Using a separate graph from part (a), graph Erin's optimal choice before and after gift.
Home has 1200 units of labor available. It can produce two goods: indigo and tobacco. The unit labor requirement of indigo is 3, while in tobacco production the unit labor requirement is 2. What is Home's opportunity cost of producing indigo?
Given the estimate for own price elasticity is -4.5, and the upper and lower 95% confidence intervals are -.5 and -8.5, what is the standard error for the own price elasticity estimate?
Explain using examples the factors which can influence the supply of pizza.
One of the authors received a credit card bill for 3167 and it included a charge of 1622 that was not valid. Find the values of the absolute amd relative errors
Suppose that there is no fixed production input (i.e. long run.) With the production function above, the slope of the isoquant is given by MRTS = -(K/2L). Assume the firm chooses to hold costs C at $50.
Suppose that the nominal rate is 26%, and real interest rate is 5%. What is the inflation rate?
Examine the American personal computer industry using the Five Forces. Is this an attractive industry? Why or why not?
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