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Suppose the marginal product of labor is 8 and the marginal product of capital is 2. If the wage rate is $4 and the price of capital is $2, then in order to minimize costs the firm should use
Marketing research over the internet has increased significantly in the past decade. Outline and then discuss the strengths and weaknesses of marketing research conducted online with respect for a foreign or domestic airline company of your choice.
1 Explain what policies and strategies are most effective in increasing rural income and reducing rural poverty in developing countries?
After reviewing and analyzing “A Report to the President Pursuant to the President's Directive of January 31, 1950.” from the NSC 68: United States Objectives and Programs for National Security, explain why you think the United States entered into th..
Identify two goods each whose demands exhibits (a) high income elasticity, (b) low income elasticity, (c) high price elasticity, and (d) low price elasticity. What accounts for the differences in elasticity?
q1. explicate and illustrate the effect of expansionary fiscal policy on equilibrium output predicted by the
True or false. Investors would prefer a decrease in government spending rather than an increase in government spending.
How do firms attain equilibrium when there is monopsony in factor market and perfect competition in product market.
In the market economy that relies on the law of supply and demand, determine which of the following does not fit with the other:
Some retailers must contend with excessive customer returns of purchased items. For example, a person may purchase an expensive item at a clothing store; wear it to a fancy event, then return the item. To what extent is the problem of excessive custo..
Let market demand in the trinkets industry be given by Q(P) = 55−P. There are only two firms in the industry, and the total cost function for each firm be given by C(qi) = 10 + 25q, where i = 1, 2. Write down the profit maximization problem of each f..
What is the test statistic? What is the P VALUE? What is the conclusion if the level of significance is a=0.05?
What is the equilibrium price and quantity of apartment rentals in Lafayette? Suppose the government imposes a price ceiling of $150. What is the impact on the equilibrium outcome? Does this price ceiling necessarily increase consumer surplus? Explai..
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