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Suppose trevor hires workers to cook hamburgers. If the first worker's marginal product is 6 hamburgers, the second worker's marginal product is 21, and the third worker's marginal product is 20, then the average product of labor is _____ hamburgers. (Enter a numeric response using a real number rounded to one decimal place.)
Explain briefly whether each of the following would cause GDP to overstate or understate the degree of change in the broad standard of living:
A newspaper has a monopoly on the local news market in a town. The market demand is given by P=1.70-Q/20,000, making the marginal revenue MR=1.70-Q/10,000. The marginal cost is constant at equal to 0.80. The fixed cost is 2,000. So, the total cost is..
Cartco needs to borrow $4 million for an upgrade to its headquarters and manufacturing facility. Management has decided to borrow using a five-year term loan from its existing commercial bank. The prime rate is 3 percent, and Cartco’s current rating ..
If the Federal Reserve increases the money supply, the rate of return on investment (increases/decreases) and the value of the domestic currency (increases/decreases)
Please search for some information about the Dodd-Frank Act and share with us. Please evaluate this act by answering the following questions: Do you think this Act can successfully avoid financial crisis in future? Why or why not?
What is a yield curve? What is a term structure of interest rates? How does yield curve and term structure differ? What do you learn from each shape of the yield curve and how can yield curve and term structure help you make lending and borrowing dec..
What is the deadweight loss in both markets if the price of a crate of fresh oranges is raised.
Suppose you are given the following Total Product Function: ,where Q is total output or units produces; K, capital; L, labor; and M, materials.; that is, this is a input factor production function. Find the Marginal products of capital, labor, and ma..
q.suppose that the income tax in a certain nation is computed as a flat rate of 5 percent but no tax is levied above
What amount will be required to purchase, on an engineer’s 40th birthday, an annuity to provide him with 30 equal semiannual payments of $1,000 each, the first to be received on his 50th birthday, if nominal interest is 4% compounded semiannually?
What is the Bretton Woods system? Why was it created and why did it collapse? How has this collapse ushered in more volatile exchange rate and frequent financial crises?
Your pharmacy provides services to Medicare and PPO patients. You estimate a price elasticity of demand of -2.2 for Medicare patients and -5.3 for PPO patients. Your marginal and average cost for dispensing a prescription is $2. What is the profit-ma..
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