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What is the wage rate, or price of labor services, that is set when the supply of workers meet the demand for workers in the labor market.
Production Possibilities Tables for Germany and Canada (note that we are assuming that opportunity costs remain constant along the production possibilities frontier), and that each country produces only these two products).
measure used to calculate the price level and measure used to calculate the cost of borrowing money.
Discuss the likely sources of the economies of scale that underlie the large size of these firms. [Note: the stocks of private firms are not traded on public stock exchanges
If the deflation continued for a number of years would the mortgage company benefit? Why or why not? What would happen to the economy as a whole?
What is the profit-maximizing output for the monopolist? Calculate its profit.
Suppose that 3M has the production function q=KL, and the input prices are given by r=$2, w=$3. The 3M wants to produce 600 unit of output and minimize cost of production.
In your answer compare and contrast the relevance of techniques and practices utilized in Multics to those which are currently employed today in both a networked and a standalone computer environment.
Jane buys only shoes and socks. When the price of shoes goes up, Jane goes on buying just as many socks as before. therefore, socks are definitely not a Giffen good for Jane.
Suppose the government spends more on building new infrastructure. Assume that the new infrastructure projects are useful and make the economy more efficient. What is the effect on the long-run level of output and the price level? Concentrate on the ..
maria and emmanuel need to cut logs for shelter or gather food to stay alive per day. maria produces 10 cut logs of shelter and 10 baskets of food. emmanuel produces 5 cut logs of shelter and 8 baskets of food. a) what is the opportunity cost for m..
Would interestexist in a pure exchange economy where no production occurred? Explain. Briefly contrast the static and dynamic views of monopoly and the policies appropriatefor each.
A farmer must decide what combination of seed, water, fertilizer, and pest control will be most profitable for the coming year. The local agricultural college did a study of this farmer's situation and prepared the following table
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