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Assume the price of baseballs is $5 and baseball gloves is $20. Assume you have $100 total to spend on these items. Construct a table . What is the point, based on the Equimarginal Rule, which has equal marginal benefit (or the closest) for the two purchases?
Show such data graphically. Upon what specific assumptions is this production possibilities curve based? If the economy is at point C, what is the cost of one more automobile? Of one more forklift? Describe how the production possibi..
An engineer considering for retirement decides that she wants to have income of $100,000 per year for 20 years with the first withdrawal starting 30 year from now.
In this model of society no capital and no wage labor. The commodities are valued based on hours of labor that needed for the production.Based the above the only input that used to find the cost of a commodity is labor.
The setup activity price driver rate, using the best cost driver for this situation.
Why would a nation such as the United States, which can presumably produce everything it needs itself, choose to trade with other nations?
THe production function is y= a * Ka * L1-a, If a= 0.3, and over the past year total factor productivity grew 2.3 percent, capital grew 2 percent, and labor grew 3 percent, what was the growth rate of output?
Describe the opportunity cost of good 1 in terms of good 2. Find out the opportunity cost of good 1 at the point where x1=1.
Some fields have large enough quantities of both oil and natural gas that coordination must be achieved for the production of both, rather than oil alone as in our examples. Will fields with both oile and gas have greater difficulties in unitizati..
Discuss the major barriers to entry into an industry. Explain how each barrier can foster either monopoly or oligopoly. Which barriers, if any, do you feel give rise to monopoly that is socially justifiable
Consider a country where the velocity of money is constant. Real GDP grows by 3% per year, the money stock grows by 4% per year, and the nominal interest rate is 3%.Using the approximate Fisher Equation what is the real interest rate in the economy..
The utility function of a worker is represented by U(C,L) = C X L, so that the marginal utility of leisure is C and the marginal consumption is L.
As a portfolio manager whose company has investments in a country with a high level of debt what would you do to raise your companies profit or protect their interest if;
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