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1. Suppose you are to specify a short-run total variable cost (STVC) function for a nursing home. Please list the independent variables (up to 5) and explain why they are included. In addition, define the impact of each independent variable on the STVC.
2. You are responsible for hiring one of two RNs for a clinic. The first RN is likely to serve 16 patients per day with daily wage at $100. The second RN is expected to serve 18 patients per day with daily wage at $120. Assume their services are at the same quality. Which RN will you hire? Why?
Show how an open market sale affects the Fed's balance sheet and also the balance sheet of the commercial bank of the purchaser of the bond sold by the Fed.
What appears to be the major constraint that the central banks used to determine the limits of the monetary injections into the economy?
Describe how the Monsanto Corporation is a monopolist. How has the government helped the company maintain its power as a monopoly?
Use the IS-LM model to predict the short-run impact on the interest rate and output if the central bank pushes interest rate down at the same time that both consumption and investment fall due to a financial crisis.
Write a book review about the book "The Death of money" written by James Rickaeds.
The study of government regulation and the competitive environment for business is relevant to all those who study business. All business candidates need to understand how the competitive environment will impact their employers and businesses.
Elucidate how an individual buying a car would prefer a free GPS system to a free leather seat upgrade.
Sharp rises in the cost of milk, grain, and fresh fruits and vegetables are hitting cafeterias across the country, forcing cash-strapped schools to raise prices or serve more economical dishes.
Classical economists of the 1930's did not believe that: Suppose the economy is initially in a recessionary gap and consumer and business expectations become less optimistic due to the War on Terrorism. In the long run, assuming that there is no poli..
Explain how scarcity affects the following decision-makers: The president of the United States A business executive A city manager The mother of a baby.
What is the optimal system of intellectual property rights to encourage innovation? Empirical evidence from economic history can help to inform important policy questions that have been difficult to answer with modern data: For example, does the exis..
The market supply and demand functions for a product traded on a perfectly competitive market are given: QD= 40-P, QS = -5+4P, Based on this information, calculate the equilibrium price and quantity in this market. Now, suppose the competitive market..
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