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Your cat just won the local feline lottery to the tune of 3000 cans of "9-Lives" cat food (assorted flavors). A local grocer offers to take the 3000 cans and in return, supply 30 cans a month for the next 10 years. What rate of return, in terms of nominal annual rate, will you realize on this deal? (Compute to the nearest 0.01%).
Most industrial farms hire migrant workers, so the market for such workers is reasonably taken to be perfectly competitive. Suppose that all farms individually have a short-run elasticity of labor demand of –0.5. Explain why the reduction in employme..
Does the company have a stated policy on corporate social responsibility and what is the company doing to be socially responsible?
How would you go about activating various influencers of policy in the era of technology and social media, i.e. lobbyist, the media, public opinion, interest groups?
Suppose you had an initial price of 32. Using the midpoint formula for the elasticity of demand, you determine that demand is unit elastic. What was the new price?
Discuss the following statement: In the real world there is no industry which conforms precisely to the economist’s model of perfect competition. This means that the model is of little practical value’. Illustrate with a diagram and explain the short..
Points that lie outside the production possibilities curve are ______, and points that lie inside the production possibilities curve are ______.
Find out the optimal crude oil allocation in the preceding example if the profit associated with fiber were cut in half, that is, fell to $.375 per square foot.
Which of the following is not part of the index of leading economic indicators?
The Green City Hospital treated 100 patients in May with 20 nursing hour inputs, and it treated 120 patients in June with 22 nursing hour inputs. What is the total product for each month? What is the marginal product?
Discuss what a manufacturer of each product might do in the short run to increase production. Illustrate how does the long run differ for these products.
Write a book review about the book "The Death of money" written by James Rickaeds.
Problem 1: Assume that the long run total cost function for each firm in a perfectly competitive industry is LRTC = q3 - 4q2 + 8q and the market demand function is Q = 2000 - 100p. Calculate:
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