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Bill can paint either two walls or one window frame in one hour. In the same time, Frank can paint either three walls or two window frames. To minimize the time spent painting, who should specialize in painting walls, and who should specialize in painting window frames?
Felix runs a surfing school on the North Shore of Oahu. He has two inputs: surfboards, which he rents from a local shop for $10 per day, and surfing instructors, whom he hires for $40 per day. Felix could lower his costs without reducing his output i..
Discuss how the distribution of income among various groups of income earners have changed in this country during the past 50 years. In your opinion, do we need to initiate any policy to address the distribution of income?
q1. a has the u.s. economy experienced inflation or deflation during recent recessions? elucidate.b can the inflation
Jim’s utility function is U(x, y) = xy. Jerry’s utility function is U(x, y) = 1,000xy - 2,000. Tammy’s utility function is U(x, y) = xy(1 - xy). Oral’s utility function is U(x, y) = -1/(10 + 2xy). Marjoe’s utility function is U(x, y) = x(y + 1,000). ..
Between 1950 and 2006, the price of wheat fell dramatically from $15.81 per bushel to $3.40 per bushel. Suppose b/w 1950 and 2006, the supply of wheat increased substantially due to increases in productivity, shifting the wheat supply curve to the ri..
Compare and contrast Francis Edgeworth’s contributions to John Bates Clark’s contributions. Who do you feel made more significant contributions to modern economic theory?
q1. firm abc measured its mp of labor curve to be the followingmp 4000 - 2l where l is the number of hours of labor
What are the effects of increasing in government spending both mandatory and discretionary spending on US economy forecast ot grow by 1.5%
De?ne the deadweight loss of a unit excise tax on a particular good. What determines its size? Be as complete and speci?c as possible. In the market of part b, suppose that an excise tax of $1.40 per unit is charged to the sellers. Find the e?ect on ..
U.S. real GDP is substantially higher today than it was 60 years ago. What does this tell us, and illustrate what does it not tell us, about the well-being of U.S. residents
The AD/AS model is useful in predicting the effects of various shocks and policy changes on an economy. The model is based on goods and services being exchanged in well-functioning markets. In general, however, markets are not always perfect. How wou..
Using dot points, compare the advantages and disadvantages of legacy interVLAN routing and Router-on-a-Stick inter-VLAN routing.
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