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You are the manager of a new firm that can choose between two technologies for producing output using only labor. Technology A can produce two units of output for each hour of labor input. Technology B can produce three units of output for each hour of labor input up to 100 hours, and β units of output for each hour of labor above 100 hours. For what values of β is technology B more productive than technology A?
In a simple regression model (one X variable only), if the t statistic for the slope is 2.5, what is the value of F. State the null and alternative hypothesis for both tests. How important is the assumption of a normal error term in using the t te..
A study published by the Havard Business Review in January, 2000 found that intellectual property represents approximately__________ of an average firm's value.
If you have been offered $137,000 for a job in Los Angeles and $117,000 for a similar job in Dallas, elucidate which job affords you the highest purchasing power of the bundle of goods in the price index.
Lucinda Lacy purchased a foreclosed house today for $105,500 by making a down payment of 15% of the purchase price and paying closing costs of: Lucinda has a mortgage loan with an interest rate of 3.9% APR, compounded monthly for 30 years. Her taxes ..
Use demand and supply diagrams to elucidate what happened in anchovy,soybean, and cattle markets. Indicate which curves shifted in each instance and show the effects on the equilibrium price and quantity in each market.
"The lowering of barriers to trade and investment between countries within a trade group will probably be followed by increased price competition." Do you agree? Why? Why not?
Suppose you have an offer of $200,000 to sell your house this year. The market rate of interest is 10%. You expect to be able to sell your house next year for $230,000. How does this relate to the theory of nonrenewable resource allocation over time?..
When do assumptions made in conjunction with economic theorizing have to be realistic. Can unrealistic assumptions provide useful outcomes.
Erika and Kitty, who are twins, just received $20,000 each for their 27th birthdays. They both have aspirations to become millionaires. Each plans to make a $5,000 annual contribution to her "early retirement fund" on her birthday, beginning a year f..
The current cost function for a lab that evaluates Pap smears is C = 200,000 + 25 x Q. Q, the annual volume of tests, is forecast to be 30,000. The incremental cost is $25 because each evaluation requires $20 worth of a technician's time and $5 worth..
Which of the following is one of the differences between the Articles of Confederation and the new Constitution created during the Constitutional Convention in 1787?
Elucidate the marginal cost of a string. Compute marginal revenue and marginal cost for each quantity.
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