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a) Discuss the difference between production in the short run and Long run. Draw a graph that shows the total output curve in the short run and explain its shape. Make sure you label your axes appropriately.
b) What is average product of labour? Explain the relationship between the average product of labour and marginal product of labour. Illustrate the relationship between the two using a graph. Make sure you label your axes appropriately.
Find historical data (three to five years) for these variables for one of the countries in which your company or industry has a major presence.
Rank the market structures from LEAST efficient to MOST efficient.
1. Write down the payoff matrix for this game. 2. Find the Nash equilibrium (or equilibria) of this game.
Using a required reserve ratio of 10% and assuming that banks keep no excess reserves, imagine that $200 is deposited into a checking account.
It states that you should treat others as you would like others to treat you. Is the Golden Rule the same as Kant's categorical imperative, or is it different?
Write a program that asks the user to input a set of floating-point values. When the user enters a value that is not a number, give the user a second chance to enter the value. After two chances, quit reading input. Add all correctly specified val..
Illustrate what effect does the current supply and currently demand have on this product.
Peggy's Peaches has developed a new product, the Bruiseless Peach, which always stays peachy fresh. Peggy's paid 85,000 to a marketing firm to survey the bruiseless peach market. The potential sales were estimated at $250,000 per year. New equipment ..
What individual’s decision is altered as a result of not taxing the imputed rent earned by those who live in their own house? How so? Explain.
Companies 1 and 2 are fighting over a market segment initially held by Company 2. Company 1 has $K in reserves and company 2 has $L. Whenever the market is served by one company, the competing company can launch a price war by reducing the price. Wha..
Please search for some information about the Dodd-Frank Act and share with us. Please evaluate this act by answering the following questions: Do you think this Act can successfully avoid financial crisis in future? Why or why not?
A nation has a tax rate of 20% on the first $20,000 of taxable income, 30% on the next $30,000, 40% on the next $20,000 and then 50% on all taxable income above $70,000.
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