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If all the assumptions of perfect competition hold, why would firms in such an industry have little incentive to carry out technological change or much research and development?
What condition would encourage research and development in competitive industries?
Calculate the labor rate also efficiency variances for the month. Was paying workers the actual wage rather than the standard wage an efficient strategy for Loring.
Suppose government were to provide free daycare for children and assume this has no effect on the real wage w, taxes T, and dividend income π. Determine effect of the daycare program on consumption
Explain whether there is a relationship between inflation and unemployment and should government interfere and reduce inflation and unemployment?
Consider now the decision problem of the agents. Let n denote the number of hours per month that an agent works. Write an equation relating n and l. Write the agents budget constraint. Express the budget constraint in terms of c and l. State the agen..
In the Ricardian model, everyone seems to benefit from trade. However, the Heckscher-Ohlin model seems to show that some lose from trade as well. Who are the losers in the HO model and how do they not benefit from trade
If prices rise, people’s income from selling goods increases. However, the growth of real GDP ignores this gain. Given this information, why do economists prefer real GDP as a measure of economic well-being?
Assume Firm Y's production function is given by the following Cobb Douglas equation: Q = 0.5 x L0.6 x K0.5 where L denotes labor and K denotes capital. a. Does the production function exhibit increasing, decreasing or constant returns to scale.
Could you conclude this data shows the proportion of politically motivated expatriates has increased Use the 0.05 significance level.
Illustrate what will be the percent change in hotdog sales if the price of hamburgers goes up by 10%.
Utilizing an appropriate diagram, show and explain briefly how a rise in the minimum wage could result in higher employment
The New England Soap Company is considering adding some processing equipment to the plant to aid in the removal of impurities from some raw materials. By adding the processing equipment, the firm can purchase lower-grade raw material at reduced cost ..
Suppose that the ecomony is operating below full employment and that it will not overheat during the year.
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