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In a two input – one output production model, what are the profit-maximizing conditions, in a general equation form? What does each side of the equation represent?
Provide one example of a good the US would be considered to have a comparative advantage in producing. Why do you think the U.S. has this comparative advantage.
John and Mary are divorcing. John is demanding that Mary pay him $75,000 of alimony in the first year after the divorce, $50,000 in the second year, and $25,000 in the third and all subsequent years until he dies or remarries. What
Describe three ways we can use macroeconomic analysis, with one original example for each way
A monopolist has a constant marginal also average price. Compute the monopolist's profit maximizing quantity, price also profit.
Please elucidate the likely effects on Savings (Gross Private Domestic) Investment, Long Term Real Interest Rates, The Capital Stock, Natural RGDP.
What is the maximum amount of good Y that can be purchased if X and Y are the only two goods available for purchase and P x = $5, P y = $10, X = 20, and M = 500?
Illustrate what do these numbers imply for the decision of when to open a shared facility versus two separate facilities.
You are planning a short-run production function for your firm, and you have collected the following data on labour usage and output: Calculate estimates of total. Average, and marginal products when the firm employs 23 workers
Create a graph of that charts out the Federal Surpluses / Deficits and Real GDP in each year from 1965 to 2011. (Be careful with the Surplus / Deficit data, since there is an additional entry to account for a change in how the data ..
Imagine a firm that hires 2 types of workers, some with computer skills and some without. If technology advances so that computers become more useful to the firm, what happens to the marginal product of the two type
The Bank of England has switched from interest rate cuts to "quantative easing" This policy involves buying bonds from commerical banks in the hope that these institutions will again lend in vast quantities to businessess and individuals after sit..
Explain how does the Concept of Comparative Advantage actually "prove the advantages" of free trade to both countries involved in a transaction.
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