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Problem: Now suppose with applications of artificial intelligence (AI), it is getting more efficient to train data scientists. After a new AI model introduced in 2023, given a stable demand for data engineers, what will be the consequence of this change to the market of data engineers?
Select an existing good or service, or select an existing business with which you are familiar. Write a business proposal to improve an existing good or service for the chosen company.
A monopolist is currently producing a level of output where Price = $110; Marginal Revenue = $10; Quantity = 100; Total Cost = $15,000; Marginal Cost = $10; Total Fixed Cost = $4,000.To maximize profits in the short-run, the monopolist should do.
How many books and movies would maximize your level of satisfaction given the budget of $60.00 and are the charts above consistent with the Law of Diminishing Marginal Utility? Why or Why not?
What are the benefits and the cost of using a passive approach or an active approach when conducting economic policy?
A government passes a family-friendly law that no companies can have evening, nighttime, or weekend hours, so that everyone can be home with their families.
Suppose that Person A earns $35,000 per year and Person B earns $42,000- Find the exact percentage by which Person B's salary exceeds Person A's.
What is the monopolist's profit maximizing level of output? What price will the profit maximizing monopolist charge?
Suppose the Cobb-Douglas production function for a company is given by z = 300x2/3y1/3 where x is the company's capital investment and y is the size.
A student bought a $75 used guitar and agreed to pay for it with a single $85 payment at the end of 6 months. Assuming semiannual (every 6 months) compounding.
In the short run, the firm has an installed capacity of K = 50 machine hours per day, and this capacity cannot be varied. Create a spreadsheet to model this production setting. Determine the firm's profit-maximizing employment of labor.
A company purchased equipment at a cost of $120,000. Net income is estimated at $30,000/Yr. The estimated life of the equipment is 10 years.
The internet and online social media in particular are giving people unprecedented ability to express their views and share information with others.
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