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Firm XYZ measured its MP of labor curve to be the following: MP = 4000 - 2L where L is the number of hours of labor hired per day. XYZ produces gadgets that are sold for $20 each and is able to hire workers for $10 per hour. How many hours of labor should XYZ hire each day to maximize its profits?
Sunrise Surf Shop is willing to produce 30 surfboards in the month if it can sell each board for $300. If it can receive $500 for each board, the shop is willing to manufacture 70 surfboards.
Based upon your own internet research, identify and comment on two supply-side initiatives included in the current U.S. stimulus package. Ensure your response includes one strength and one weakness in each of these initiatives.
The employees of Abs "R" Us, which includes 12 fitness parlors in and around the metro area, feel they can improve the performance of the company.
The principal of Hamilton High School found that requiring those students who were failing algebra to attend an after- school tutoring program resulted in a 30 percent average increase in their algebra grades. Based on this success, the principal ..
Using the ITT Tech Virtual Library, research information on companies that have engaged in monopoly behavior, such as Microsoft, Google, or Wal-Mart, and explain how society has been affected by the monopoly behavior using that information.
What is the effective rate of tariff protection (ERTP) for the U.S. shoe industry now and what is the U.S. shoe industry's value added for each pair of shoes?
I. Marginal revenue is the additional revenue from selling one more unit of output. II. A firm will always produce at an output at which marginal revenue is greater than marginal cost, except when it is minimizing its losses.
Suppose that the allocatively efficient output level in long-run equilibrium is 210 meals. Is the deadweight loss for this firm greater than or less than $60?
WHAT FACTORS AFFECTED NATIONAL INCOME, UNEMPLOYMEY RATE AND INFLATION RATE WHAT FACTORS EFFECT EACH OF THESE ECONOMIC VARIABLES?
Calculate the change in welfare compared to the free market outcome (i.e., in the absence of minimum wages). Is this a welfare gain or a loss?
Describe why alternative efficient allocations may have different total levels, and different distributions, of wealth.
the company ABC Inc. bought a machine for automatic playback of " software " at a cost of $ 20,000 ( the "original cost" ) . The expectation was that the machine had a useful life of 5 years , after which have a residual value of $ 5,000 ( "salvage v..
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