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Q. if you human director at casino, what should you have done prior to firing steward to be sure you had all of your bases covered?
Q. A process produces 6000 units of output that yield $6 per unit. Resources contributed to this output are 300 hours of labour at $15 per hour, materials at $700 and overhead at $300. What is labour productivity?
Explain why government regulation is or is not needed, citing the major reasons for government involvement in a market economy. Provide support for your explanation.
Nevertheless your total unit sales have increased over this period. Assuming rational buyers and no deceptive advertising, how can you account for this.
Why is it being used to hold "illegal combatants" instead of a military prison in the United States
Compute the price of a bundle containing 100 units of good X, 150 units of good Y, and 25 units of good Z.
Illustrate what happens when a per unit subsidy is replaced with a revenue equivalent lumpsum subsidy.
Miller and Coors who together produce 85% of all beer consumed in the US, each spend well over $250 million a year on television advertising campaigns, promoting their beer brands.
Smith has been trying to sell his house for six months, but so far, there are no buyers. Sketch the market for Smith's house.
You are an economic consultant for Farmer Perk, who produces raw cotton and sells it in a perfectly competitive market. Illustrate what is Farmer Perk's profit-maximizing level of output.
Following the war, the government of Country A would like to impose tax RMx on cars. Ilustrate and explain with graph for the car market due to the taxes. In your opinion, who will bear more of the taxes imposed-suppliers or consumers.
Explain why dose the profits of firms that buy their inputs in perfectly competitive market and sell their output in imperfectly competitive markets tends to increase when there is excess supply
The production process requires labor and capital as inputs. Labor costs $6 per labor hour and capital costs $12 per machine hour.
Illustrate what did society gain from having brand name chicken. Illustrate what did society lose.
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