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Question: Bricklaying is a labour-intensive activity. One Hod carrier can provide mortar for two bricklayers (A Hod carrier is a labourer who carries material for the bricklayer). If the company attempted to increase production by increasing only the number of bricklayers, would diminishing returns hold (YES/NO)? Explain.
Analyzing Visuals Study the production possibilities frontier in Figure. What does it mean when the frontier shifts outward? What possible causes exist.
The firm wants to produce 100 units. Find the cost minimizing combination of capital and labour.
Pylons benefit society according to the benefit function: B = 1.7q3-7.3q+c. As a welfare maximiser, you will build the number of pylons which benefit society
Last year there were 5,000 paralegals working in Southeastern Wisconsin, and they earned an average wage of $15.50/hour. This year, there are 4,800 paralegals in the area with an average wage of $13.95/hour.
Is the marginal social cost of the activity greater than or equal to the marginal cost to the individual Consequently, without intervention, will there be too little or too much(relative to what would be socially optimal) of this activity
At the beginning of this year, daily consumption of gasoline in the US amounted to 344 million gallons. It is estimated that for every 10% increase in the price of gasoline, the demand for gasoline reduces by 2.00%.
Productivity is an important measure of economic growth. However, it can be misleading if taken as a measure by itself. For example, typically, when economic growth is slowed or declines (recession), business will decrease the number of workers, wh..
equilibration is the process of moving between two equilibrium points as a result of some change in supply or demand.
Compare and contrast the economies of two different historical regions
you are the manager of global opportunities for a u.s. manufacturer who is considering expanding sales into europe.
what is the relationship between the price of crude oil and the price you pay at the pump for gasoline? the file oil
These are dualism, materialism, idealism and alternative views. Of the four modern metaphysical ideas, which seems most logical to you Briefly define the view you selected and explain how your reading and experience supports it.
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