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Question: Continuing from Exercise, the firm's factory sits on land owned by the firm that could be rented out for $30,000 per year. What was the firm's economic profit last year?
Exercise: A firm had sales revenue of $1 million last year. It spent $600,000 on labor, $150,000 on capital and $200,000 on materials. What was the firm's accounting profit?
Critics have argued that if there are strong factor substitution effects, these subsidies could reduce employment in the state. Explain their argument. How does this affect the labor market
Identify components of codes of conduct. Demonstrate a basic understanding of some of the ethics issues that may be addressed through codes of conduct. Prepare a written report comparing and contrasting two codes of conduct
Consider what causes the lags in the effect of monetary and fiscal policy on aggregate demand. What are the implications of these lags for the debate over active versus passive policy?
While exports are good for the U.S. economy (e.g. raising demand for U.S. products and wages of American workers), imports are bad: they destroy American industries and American jobs and lower our standards of living.
Shows one set of production possibilities
Explain the meanings of stability and the complexity of environmental changes, and how to evaluate their uncertainty with examples. How can corporations adjust to the changing environment in general?
Hypothesize the basic short-run and long-run behaviors of the model in the industry you have chosen in a market economy. and analyze at least three (3) possible areas for the industry that could lead to transaction costs, and explain each in detail.
Which of the following statements correctly describes free-market equilibrium? A survey that calls people on land-line phones to study the purchasing habits of US adults would likely incur a problem of ________ in the data
What percentage would the quantity demanded of corn increase?percent.
1. why does price discrimination result in greater physician incomes than a single price to everyone?2. what are the
In the second part of this journal entry, compare what you thought you knew about the economics of healthcare with what you learn in the course.
You currently take the subway to work. although taking the bus is cheaper, the ride takes longer. so you are willing to pay the higher subway fare in order to save time.
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