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Stasia is training for a triathlon, a timed race that combinesswimming, biking, and running.
A.Consider the following sentence.
"Statsia has only 20 hours per week that she can devote to trainingfor her race."
which basic principle of individual choice does this sentence bestillustrate?
Assume two inputs, K and L. Illustrate the following cases with two graphs: (1) the substitution effect on labor hired due to a wage increase is zero. (2) the scale effect on labor hired due to a wage increase is zero.
What is the take home pay of the three options after state income taxes are paid? Which of these offers will you accept if you are only interested in maximizing your after tax income? Pennysylvania: After tax income = 62000 * (1 - 3.07/100) = 6009..
Suppose a risk averse agent. Explain how many units of the contract will the agent buy if the price is q=k.
Consider the Linear demand function Q = 20 - 0.5P. using calculus, find the level of output, Qrmax, where total revenue reaches its maximum value.
Discuss the importance of the average, the trend, the seasonality, the cyclical, and the random portions of the variation in a data series when trying to forecast the quantity demanded of a firm's product. A time series consists of a number of comp..
estimate the average years of seniority for employees working for Kaneko Ltd. The files of 49 workers are selected at random. Average seniority for those in the sample is 13.6 years. Assume you know the population standard deviation is 5.2 years.
In the New Orleans metropolitan area in August 2005, the labor force was 634,512 and 35,222 people were unemployed. In September 2005 following Hurricane Katrina
Felicity is studying economics and political science. She can read 30 pages of political science per hour but only 5 pages of economics per hour. This week she has a 50-page assignment in economics and a 150-page assignment in political science.
explain how much will real GDP change. Explain how the concept of comparative advantage was relevant to the trade negotiations.
The individual demand curves for food for 2 households. These are household A and household B. The demand for household A for food is given.Calculate the market demand for food.
In Gelate, Pennsylvania, the market for compact discs has evolved as follows. There are two firms that each use a marquee to post the price they charge for compact discs.
Explain how does classical economics elucidate its confidence in the ability of natural forces to return the economy to its potential level of real GDP?
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