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Suppose the cost function is C(Q) = 50 + Q -10Q(squared)+ 2Q(cubed). What is the total cost of producing 10 units? Show your work
What are some of the location-specific advantages found in agglomeration, the clustering of economic activities in a concentrated area? What are the advantages and disadvantages for first movers? What are the advantages and disadvantages for late mov..
Over the last 10 years, from 2005 through 2015, the European Union economy grew by 12.1%. What is the average annual percentage growth?
Consider a firm using labor and capital as its only inputs. The price of capital is $40 where the price of labor (wage) is $60. Using 500 units of labor and 500 units of capital the firm is producing 1200 units of output. At this mix of input the fir..
evaluate a plan designed to cut costs. Under plan, workers would be paid a fixed rate of $8/hour. Would you favour plan, Explain.
Suppose a comparable phone costs 500 USD in the U.S. and 300 EUR in Germany. If the nominal exchange rate is 0.8 EUR per 1 USD, then the real exchange rate in terms of how many German phones can be traded for one U.S. phone is
This question asks you how an increase in productivity would change the steady state in a Solow model for education. Draw and label the graph. Now suppose that the country becomes more productive (better laws, new technologies, etc.). What curve or c..
(a) Basing your calculation on simple interest and giving your answer correct to four significant figures, calculate the annual rate of rate of interest paid to Barbara. (b) State your answer in (a) rounded to three significant figures.
As firms enter a monopolistically competitive industry, the existing firms' demand curves will: A Nash equilibrium occurs when:
An indifference curve a. Is a locus of bundles of goods such that each good in every bundle yields equal satisfaction b. Is a locus of bundles of goods such that the consumer is indifferent between each good in every bundle c. Is a locus of bundles o..
Explain how "discretionary fiscal policy" can be "countercyclical" and can be used to support aggregate demand. Us an AD/AS model to support your answer.
Kermit is considering purchasing a new computer system. The purchase price is $123560. Kermit will borrow one-fourth of the purchase price from a bank at 10 percent per year compounded annually. The loan is to be repaid using equal annual payments ov..
What did the establishment of operational bands do to the expectations of ruble speculators? Would these expectations be stabilizing or destabilizing in your opinion?
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