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Why do points on a utility possibility curve represent efficient allocations of resources? Why must the utility possibility curve be downward sloping? Draw a utility possibility curve, and show how it is possible to achieve efficiency by moving from a point within the curve and the axes to a point on the curve. Create a graph on a spreadsheet program
q.johnny works for the great big cookie company gbc which buys labor at a wage of 1 an hour and uses it to produce
State the appropriate monetary policy which the Bank of Canada should be operating, given the above situation.
Elucidate the multiplier concept as it applies in this case. Illustrate what are the qualifications and limitations of the multiplier model.
What is inflation? How do interest rates affect inflation? What are the different types of unemployment? Which of these has the most impact on the economy? Explain
Given current employment, the marginal product of the last worker in Mexico is 100, and the marginal product of the last worker in the U.S. is 500.
Discuss industry concentration, demand and market conditions and the pricing behavior of Kodak in the 1990's. Do you think the industry environment is significantly different today.
Point out which costs (sunk cost, incremental cost, fixed cost, variable cost, marginal cost, opportunity cost, out of pocket cost) are considered "relevant" and which are considered "irrelevant" to a business decision. Explain why.
Which former Soviet republic currently a member of the Commonwealth of Independent States (CIS) has been the most economically successful in making this transition.
Elucidate what should Paul, the Director of Human Resources, do to determine how Plastec (a company that manufactures plastic) compares with other area employers in terms of wages and benefits.
You are the manager of a monopoly, and your demand and cost functions are given by P= 200 - 2Q and C(Q)= 2000 + 3Q^2, respectively. what price-quantity combination maximizes your frm's profits?
q1. a consumer must pay 10 per visit to an amusement park for the first five visits but only 5 per visit beyond five
Explain how many cases of toothpaste should be produced in order to maximize profits. Illustrate what happens if its decided to raise prices unilaterally in this toothpaste market.
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