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Suppose that a firm has a budget of $30,000, that the wage rate is $10 per hour, and that the rental rate is about $100 per hour. I f the wage rate increases to $15 per hour and the rental rate of capital rises to $120 per hour, what happens to the producer budget or cost line? What will happen to the equilibrium of level output because of this change in factor prices? What will happen to the relative usage of labor and capital because of the change in factor prices? Explain.
Give examples of a monopoly and an example of perfect competition. Explain how each of your examples matches the textbook's definition of that market structure. Monopoly-a firm tha
Because discretionary Income = the money people have left over once they have paid for all of their basic needs (Food, Clothing, Shelter). You could also call it Disposable Inc
If the price of DVD players decreases, we can expect that the demand for DVDs will: a. increase. b. be unaffected. c. shift left. d. Decrease
What is the present worth of a cash flow that gives you $6 in every time period from 1 to 20 when the interest rate is zero?
In an article about the financial problems of USAToday,News week reported that the paper was losing about $20 million a year. A Wall Street analyst said that the paper should raise
Write a 4-5 page paper, double-spaced, Arial 12pt font, 1 inch margins all around (top, bottom, left, and right) that addresses the following news event summarized below In a to
Suppose A can somehow change the game in problem 5.1 to a new one in which his payoff from Up is reduced by 2, producing the following payoff matrix. a. Find the Nash equilibriu
illustrate and discuss the implications of variou market structures (competitive and noncompetitive) for price determination
long run supply curve
New technology was just invented that decreases the cost of planting and harvesting soybeans: show the effect of this on the soybean market. Show the effect of that on the tofu mar
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