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Question: For each of the following examples, draw a representative isoquant. What can you say about the marginal rate of technical substitution in each case?
a) A firm can hire only full-time employees to produce its output, or it can hire some combination of full-time and part-time employees. For each full-time worker let go, the firm must hire an increasing number of temporary employees to maintain the same level of output.
b) A firm finds that it can always trade two units of labor for one unit of capital and still keep output constant.
c) A firm requires exactly two full-time workers to operate each piece of machinery in the factory.
Discuss how government policies can influence economic growth. Analyze how monetary policy could influence the long-run behavior of price levels, inflation rates, costs, and other real or nominal variables.
Identify one real-life example of a market structure in your local city and relate your example to each of the characteristics of the market and describe how high entry barriers into a market will influence long-run profitability of the firms.
as an international economist you have been asked to prepare a short speech which answers the following questionshow
last year the us low-cost-carrier spirit airlines entered the dallas-chicago market. the average ticket price for all
A change in which of the following variables would affect the cash flow for a firm?
Justify the time it takes to put together a budget for a human resource project. Discuss the forces that would contribute to your budget requirements.
Define the economic principle of opportunity cost and Locate current GDP expenditures and express the percentages in a graph or a chart.
suppose there are two occupations rap musicians and country musicians.a. draw hypothetical supply and demand graphs for
One consequence of increases in business litigation over the past 20 years has been an increase in the percentage of lawyers who work as employees of firms.
First, discuss the decision by doctors to enter seperate markets for various specialities rather than starting a family practice. Second, discuss the monoploy that the American Medical Association holds on the production of doctors in the US and i..
You are about to go shopping to purchase a stereo system at a local store. Upon reading the newspaper, you find that another stereo store across town.
IBM is considering an environmentally conscious green building at one of its new production facilities. The company will decide among three different green.
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