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What is meant by diminishing returns? Does it always occur in the short run? Discuss
Is there a relationship between Marginal Product and Average Product? Discuss
Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. Category Value Compensation of employees $196.2 U.S. exports of goods and services 19.8 Consumption of fixed capital 11.8 Governme..
Suppose that without trade, France is producing 50 units of cheese and 25 units of oilves, while Spain is producing 150 units of cheese and 100 units of olives. Now assume France specializes according to its comparative advantage and produces the max..
Suppose you win a lottery, and your after-tax gain is $20,000 per year until you retire. As a result, you decide to work part time at 35 hours per week in your old job instead of the usual 40 hours per week. Calculate the annual income effect on hour..
AMS recently instituted an in-house recycling program. Profits of this program include not only profits to environment of recycling. Illustrate what level of Q maximizes profit of recycling.
AAPL current trades at around 100. You think the price at the end of the year will follow a uniform distribution centered at the current price, with a range of 40 points in either direction by the end of the year. You want to compare your assumption ..
The price consumers pay has (declined or risen ) to ($12, $14,$8 or $10) . The price producers receive has ( risen or declined) to ($12,$14,$8, or $10). How does the impact on equilibrium prices (paid by consumers and received by producers) and quant..
Identify the subject and theme of Managing for Stakeholders. Explain what you believe is the basic argument. What were some of the main points? What is odds with our society the way it is currently constructed? What specifically would change on socie..
An increase to the federal minimum wage is a widely debated topic and a prominent concern of employees. This issue must be addressed by policy makers and compensation professionals. Support your argument by referencing a law that applies to minimum w..
What would happen to the value of gold if people discovered that it could easily be made at home from inexpensive materials
Suppose the elderly as a group manage to lobby Congress successfully for a one-time wealth transfer, “paid for” by a tax on younger workers. Assume the elderly have a remaining life-expectancy of 10 years (over which the transfer will be spread), and..
Elucidate how much profit will it earn at that output rate. If the marketplace price dropped to $10, illustrate what should the firm do.
Identify and discuss at least two economic phenomena for which the linear-in-parameters/linear-in-variables regression model may not be appropriate (besides any mentioned in the text). Select an economic phenomenon and determine which of the models d..
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