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Assume that the production function is y = x0.5. The price of the input is $2, and the priceof the output is $5. What is the profit-maximizing level of use of x? What is the own-priceelasticity of demand for input x? What is the output-price elasticity of demand for input x?
You are working as a Support Specialist in the University Information Technology Services (UITS) department at Indiana University, Bloomington (IUB). Your manager, the instructor, has tasked you to review the latest survey on computer user satisfa..
How will the unemployment rate change as a result? How will the growth in GDP change as a result?
Mr. All-the-Time-Lonely has been using an internet dating service from eharmoeny.com to meet a woman. According to his past observation over a long period of time, he has been successful in dating a woman at one of ten trials on average.
Consider the data above for a simple economy. 1) What is the unemployment rate for this simple economy? 2) What is the labor force participation rate for this simple economy?
four companies produce virtually all breakfast cereal. how might this concentation of market power affect market outcomes.
What can best describe a semi-independent business that pays fees to a parent company in return for the exclusive right to sell a certain commodity in a given area?
The firm is considering a movement of the plant to Shenzen, China where labour is cheaper. The same mathematical relationship between inputs and outputs will hold.
The following table is a consumption schedule. Assume that taxes and transfer payments are zero and that all saving is personal saving.
Illustrate what factors might explain closer than expected correlation observed.
Will the central bank be suffered as most people want the economy to be closer to full employment, and appreciate rising wages?
Substantiate your response with reasons and references to the textbook, lesson presentation, or Websites on the Internet.
Write an economic paper on the Gender pay gap. How does elasticity apply to the issue? If appropriate, include a calculation for elasticity.
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