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Suppose that a firm is currently employing 20 workers, the only variable input, at a ... The average product of labor is 30, the last worker added 12 units to total output, and total fixed is $3,600.
a. What is the marginal cost?
b. What is average variable cost?
c. How much output is being produced?
d. What is the average total cost?
e. Is average variable cost increasing, constant, or decreasing? What about average total cost?
Suppose the market for autoworkers is in equilibrium when the automakers purchase capital goods to produce more fuel efficient automobiles and these capital goods are a substitute for workers. What happens in market for autoworkers?
Calculate the own price elasticity of demand and interpret your answer. Calculate the cross price elasticity and interpret your answer. Calculate the income elasticity and interpret your answer.
Draw a correctly labeled loanable funds graph that shows what happens to real interest rates.
We saw in our hawk/dove game that a polymorphic ESS exists with a population of 70 percent hawks and 30 percent doves. But we could consider a mutant phenotype in this game that acts as a hawk 70 percent of the time and a dove 30 percent of the ti..
A company sells pencils in a perfectly competitive product market and hires workers in a perfectly competitive labor market. Assume the market wage for workers is $ 150 per day.
Assume that a country's inflation rate was 100 percent per year in both 1990 and 2000 but that inflation was falling in the first year and rising in the second.
What does it mean to "buy securities"? What are some affects that buying securities has on the economy?
Find the uniform price if there is two customers.Type A who will only pay 10.00 dollars for a single unit of the good, and Type B who will only pay 8.00 dollars for a single unit of goods.
Global Widgets Corp is a manufacturing company that builds standardized galvanized metal benches for sports arenas and stadiums-Do you think one of these firms would be more likely to benefit from a de-centralized decision making organizational arc..
Determine whether the following production functions exhibit constant, increasing or decreasing returns to scale.
Discuss the role of logistics management in the aviation industry as it relates to controllable and uncontrollable risks by assuming you are a logistics manager for an aviation parts manufacturer and considering the risks of moving products betwee..
The Ogden Timber Corporation purchases from its suppliers on terms of 2/10, net 35. Ogden has not been utilizing he discount offered and has not been taking the cash discount offered and has been taking fifty days to pay its bills.
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