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What is meant by the Leontief paradox? What are some possible explanations of the paradox? How can human capital contribute to the explanation of the paradox?
If the price of good x fell to $1, what is the new optimal choice Explain what happens to the optimal choice as income increases. What is fundamentally different about the optimal choice when income is below $18(and Px=2) then when income is great..
Suppose the firms compete ala Bertrand. What is the equilibrium price and quantity for each firm?
Analyze how does the bank's finding relates to economists' traditional focus on what people do, rather than what they say they will do.
Examine externalities and/or unintended consequences of such intervention.
Suppose that an oligopolistic ally competitive restaurant is currently serving 230 meals per day (the output where MR = MC). At that output level, ATC per meal is $10 and consumers are willing to pay $12 per meal. What is the size of this firm's p..
a.) Determine the profit maximizing level of output. b.) Compute the profit maximizing price. c.) Calculate the upper and lower limits within which marginal cost may vary without affecting the profit maximizing output or the price.
Joe sells vacuums. Given the demand for vacuums at P= 15 - .001Q. Joe faces constant cost of $3 per vacuum and $5,000 fixed cost. What is the dead weight loss given profit maximized out put is 6,000 units and rpice 9$
Use a model with horisontal productdifferentiation. Suppose that two firms compete. They are situated at opposite sides on a linje with length 1. Firm 1 in point 0, and firm 2 in point 1. The konsumers transport costs are linear in the distence to..
Is demand elastic in the $10 - $15 price range Ed = 0.8 in the $6 - $10 price range. In this range of demand, by what percentage would quantity demanded change if price changes by 10 percent Price falls from $6 to $3. Does total revenue (TR) incr..
Any change in the economy's total expenditures would be expected to translate into a change in GDP that was larger than the initial change in spending. This phenomenon is known as the multiplier effect. Explain how the multiplier effect works.
Illustrate the supply and demand curves graphically, and compute the skill premium going to the high-skill workers in the short run by solving the two equations.
Describe a leadership development program you feel would be effective to keep managers aligned with customer needs and responsive to their staff'sneeds.
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