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Jim produces and sells $1100 worth of flowers. Jim uses no intermediate inputs. He pays his workers $700 in wages, pays $100 in taxes and pays $200 in interest on a loan. What is Jim's contribution to GDP? What are Jim's profits?
q.assume there are 100 identical firms in an initially competitive market. market demand is given by p10-q200 and
The manager of Green Chemical Co. has been informed that this year’s production target Q for organic fertilizer (in millions of tonnes) is 20. The manager is asked to allocate the production across the company’s two plants. How should the manager all..
American-based businesses become more global every day. With changes in national and international demographics, we are seeing many American businesses participate in the global workforce.
q.gdp taxes di c i g cig1250 200 800 300 200 1500 200 1000 300 200 1750 200 1200 300 200 2000 200 1400 300 200 2250 200
What is the -maximing combination of labor and capital the firm should use? What is the resulting level of output? What is the economic profit? Is this the least costly way of of producing the profit-maximizing output?
Briefly state basic characteristics of pure competition, pure monopoly, monopolistic competition and oligopoly. Under which of se market classifications does each of following most accurately fit.
Give an example of a product you consume for which your marginal utility increases with the amount of your consumption
Whenever currency is deposited into a commercial bank, cash goes out of circulation and, as a result, the supply of money is reduced. Do you agree? Explain why or why not.
Suppose the price of a can of Diet Pepsi is $1. Find out Sally's optimal consumption of Diet Coke as a function of the unit price of Diet Coke (PC).
Consider a new per-worker employment tax on workers (where previously there was no tax). Outline the consequences of this tax on the local labor market. Use appropriate, clear, and well-labeled diagrams. In your answer show (1) the burden of the tax ..
What steps can a government take to ensure that sustainable development is always considered in assessing which major economic projects or investment proposals to accept.
Before 1976, the airlines often denied boarding to passengers who were flying on urgent business in favour of passengers who were not in any particular hurry to reach their destinations. This would seem to be a cooperative failure.
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