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Suppose that you can schedule a worker up to four hours per day. The benefit function is given by B(H) = 500H - 22.5H2 and the cost function is given by C(H) = 100 + 15H2. The corresponding marginal benefit and marginal cost functions are given by MB(H) = 500 - 45H and MC(H) = 100 + 30H. What is the best choice of hours for this worker?
Illustrating your answer from part 2, with a money supply and demand diagram, explain what happens in the money market when the Fed increases the money supply as it has since 2007? Note that this creates an excess of supply of money that the economy ..
A Material Requirements Planning (MRP) is most valuable in industries where a number of products are made in batches using the same productive equipment and with companies involving
Explain in your own words "What Is The World's Happiest, Most Productive Country?" and Why? Human resources people worry a lot about worker productivity and “engagement,” a.k.a. happiness. But are the world’s happy workers the most productive?
The costs are evenly distributed within each year, and the interest rate is 10%. What is the present worth of the construction costs?
Suppose that the most popular car dealer in your area sells 10 percent of all vehicles. If all other car dealers sell either the same number of vehicles or fewer, what is the largest value that the Herfindahl index could possibly take for car dealers..
Externalities. Consider the example of the perfectly competitive steel firm from class. The firm takes the market price p = $35 (per unit of steel) as given and chooses quantity q (units of steel) to maximize its profits. On a single graph, draw both..
Describes social engineering attacks and how they may be performed, including a list of practical tips for employees to resist these attacks.
Why did freed slaves believe that land ownership would be so important for their freedom? How did the system of sharecropping limit their freedom and make land ownership difficult to achieve? Do you think the government should have seized the land of..
GDP per capital (nominal) would be the actual cash of the average person in the given country has per year. It equals GDP divide by the population. What is the alternative to using PPPs for making international comparisons? This answer will likely ex..
Congress has passed laws requiring that a certain percentage of retail gasoline be from ethanol produced from corn. How would this destroy wealth?
Max has the utility function U(x, y) = x(y + 1). The price of x is $2 and the price of y is $1. Max’s Income is $11. How much x does Max demand? How much y? If his income doubles and prices stay unchanged, will Max’s demand for both goods double?
If the firm has a monopoly in product A and product B is sold in a competitive market, then what is the profit-maximizing tie-in sale price of product A?
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