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1. What is a production function? How does a long-run production function differ from a short-run produc- tion function?
2. Why is the marginal product of labor likely to increase initially in the short run as more of the variable input is hired?
what according to the mainstream theory of the business cycle is the most common source of recession a decrease in
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loren has a 200 annual calender year deductible on her health insurance plan. by the end of 2012 she had paid 175 in
What is globalization? What are its dimensions? Briefly explain how these two groups of forces drive globalization: the worldwide reduction of tariffs, market liberalization and economic integration on the one hand and advances in technology on the o..
Monica and her father own one of the three automobile tire stores in the city. No other city is nearby. They want do develop a strategy increase sales and market share in their city. What steps can they take?
what will happen to the market price should Global Crossing introduce the new technology - assuming other competitors do not react to Global Crossing''s action?
Compare the primary individual factors that influence demand, and explain the significant ways in which each affects the demand curve.
Utility maximization means that a consumer chooses in such a way that she gets as much utility as possible. She does not choose utility directly. Utility is, instead, an indirect result of consuming a certain mix of goods. Usually, there are limit..
List two factors, either government policy or changes in the private sector, that could increase aggregate demand, resulting in an equilibrium at full employment? Briefly describe how each might work.
those polices were predicated on 1930s Keynesian assumptions that economic recoveries always run out of steam and at certain points need artificial stimulation of demand and fine-tuning to keep them running at acceptable levels .The evidince of th..
What was the main reason for the anti-globalization movement in the late 1990s?
Sometimes market activities (production, buying and selling) have unintended positive or negative effects outside the market's scope. TI know that is an externality.
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