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A firm's production function is X = 6LK. Name five input combinations that would allow the firm to produce 180 units of output. In each case, what is the firm's capital-labor ratio? If the wage rate is $15 per unit and the rental rate on capital is $25 per unit, what are the firm's costs for each of five input combinations?
How does advertising become unethical? B- What steps must each part of the advertising "communication" process take to ensure that it remains ethical
What is the ultimatum game? What are its implications for rational choice theory?
1. What determines the level of market power a monopolist can exercise?
Pete and Paul live in an exchange economy (so we can use the Edge worth-box). The economy has endowment of 10 cheese slices and 10 crackers. Is Pete consuming 3 crackers and 5 cheeses slices a Pareto-optimal allocation? If not, how could you rearrang..
What is the probability that the sample mean coal weight
Recall that the Law of Demand states that demand curves are always downward-sloping. That is, people want to buy more of some good when its price is lower. Why is a firm’s short-run demand for labor downward-sloping?
Compute the balance in your retirement account when you will be 25, 30, 40, 50, and 65 years old assuming the average annual rate of return is 6%. Assume there are no deposits or withdrawals in this account, so the original balance just accumulates. ..
Analyzing and understanding data is an important part of decision making. Econometrics is defined as the statistical methods used to analyze data and make informed decisions. For this assignment, you are required to research data related to an econom..
Suppose that consumer price index at year-end 2011 was 150 and by tear-end 2012 had risen to 160. What will be the inflation rate during 2012?
What is the policy of import substitution? Has this policy worked for the developing countries? If not, what are the problems of this policy? Mention any two benefits of export promotion policy.
You hold an auction among three bidders. You estimate that each bidder has a value of either $16 or $20 for the item, and you attach probabilities to each value of 50%. What is the expected price? If two of the three bidders collude, what is the pric..
What is the minimum number of economics courses that a firm can require a student to take in order to receive the Mover salary?
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