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What is hyperinflation? Explain some factors that were responsible for the Zimbabwean hyperinflation of the late 2000s. In 2009, Zimbabwe ended its hyperinflation by adopting the U.S. dollar as legal tender. What potential problem(s) could this strategy have for the Zimbabwean government?
Marginal revenue product is defined as the change in total revenue that results from the employment of an additional unit of a resource. a widget producer wishes to describe how the addition of pounds of rubber will affect its MRP and profits.
What is the purpose of criminal law? Explain how crimes are classified? Give two examples of white-collar crime. What do you believe the punishment should be for this crime?
How does lean maintenance differ from the traditional approach under which a maintenance department has the responsibility for all maintenance functions? Which level on the maintenance performance hierarchy would you expect to find a lean maintenance..
Wal-Mart is often criticized for importing many of the goods they sell. Why do they buy goods from foreign markets.
Compared to a perfectly competitive market, in a monopoly market
elucidate the social gain from the market for cars. Be sure to show gains and losses to all relevant groups of Americans.
q.suppose a firms production function is given by q l12k12. the marginal product of labor and the marginal product of
Find the equilibrium market quantity and price if the market demand is Qd = 320 - 30p. Part four - how much output will each firm produce?
The production of Electricity releases a harmful gas, SO2. What can the government do to maximize social well-being? Make use of a graph to illustrate your answer.
If the average income in the town increases to 15, solve for the new equilibrium Quantity and equilibrium Pb.
How will each affect equilibrium price and equilibrium quantity in a competitive market? Will price and quantity rise, fall, or be unchanged? Based on the magnitudes of the shifts, will the answers be indeterminate?
For each of Marshall’s four rules of derived labor demand, come up with one example of an industry or job that you would expect to have especially elastic or inelastic labor demand based on that particular rule.
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