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What two kinds of changes in the capital stock can improve labor productivity? How can each type be illustrated with a per-worker production function? What determines the slope of the per-worker production function?
According to scientific nutritional studies in most nations, income of $1 a day does not provide sufficient food, shelter and clothing to live. Under these situations the medical risk of death is high.
What is the rationale behind the minimax regret rule What are some less formal and precise mehtods of dealing with uncertainty. When are these useful. How does the adverse selection problem arise in the credit-card market. To what complaint does ..
What is an "oligopoly" and why do they exist? Mention three or four oligopolies whose products you own or regularly purchase.
Demand for DVD rentals at a video store is described by the equation: Q= 4,000-500P, where Q denotes the number of DVDs rented per week and P is the rental price in dollars.
Explain the importance of price elasticity of aggregate demand. That is, what are the different welfare implications with respect to consumer surplus when aggregate demand is elastic compared to when aggregate demand is inelastic?
"Suppose Y = $200, C = $140, G = $25, x-m = -5, and T = $25. What is Sp? What is I?" Here is the answer:Yd = Y - T | C + Sp = Y - T | Sp = Y - T - C,Sp = Y - C - T = 200 - 25 - 140 = $35,I = Sp + (T - G) + (x-m) = $35 I = $35 + 0 - 5 = $30
The Interior Department recently announced that it will increase the entrance fees at Yellowstone National Park in order to increase park revenues. The Interior Department must believe that
Pick a good or service you are familiar with. Speculate how the price for that good or service may have been set and how well this price maximizes profit for the company and determine what shifts the company should make in its pricing strategy.
What are the equilibrium rent and number of rooms? If the college puts a rent ceiling on rooms of $650 a month, what is the rent and how many rooms are rented?
Consider two firms X and Y that produce identically tasting cold drinks. In order to raise the demand for its cold drink, firm X raise its advertisement outlay.
1) Suppose that ms. Spencer is presently spending all her budget purchasing 10 units of A and 8 units of B at prices of $2 and $4 respectively. The marginal utility of the last units of A and B are 16 and 24 respectively. These data suggest that..
Illustrate the black market for internet access, including the implicit supply schedule, the ceiling price, the black market supply and demand, and the highest feasible black market price.
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