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Q1. The wage rate is £5 and the rental rate (cost) of capital is £2. Calculate the lowest cost method of making 4, 8 and 12 units of output. Explain the two methods of producing each level of output?
Q2. The graph of the demand curve and the supply curve for Belgium cocoa beans. From the supply and demand schedules, from Belgium what are the equilibrium price also quantity of cocoa beans?
Elucidate what would be the immediate and long run effects on c, k, and y. Explain by drawing the path of these variables. Consider that you impose the new saving rate.
By what percentage would GDP be boosted if the value of the services of stay-at-home spouses were included in GDP
Subsequently the customer paid the balance on 22 October 2012. To customer the Credit terms offered.
Explain why sharp decline in oil prices might not necessarily have positive or negative impact.
Draw a graph of the market for chewing gum. What are the equilibrium price and quantity? Mark the equilibrium price and quantity in the graph.
Explain what occurs when a new technology makes another one obsolete in terms of economic profit.
A university registrar who uses her experience with university admissions along with your high school grades, application essays, letters of recommendation.
How large is the bias in the CPI due to not immediately incorporating new goods.
A farmer determined a natural gas preserve on his property.
How to design an experiment to test the theory that changing the oil of the new backhoes and forklifts will reduce repairs.
Describe the international monetary system known as the Bretton Woods system, or the gold exchange standard that existed from the mid 1940s to the early 1970s.
In economic terms, when the wage rate increases we sometimes see the number of hours worked by individuals decrease now.
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