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If Coolest IceCream ice cream parlor has been closing at 5pm with $120 of marginal revenue and $80 of marginal cost for the last hour open, what should Coolest IceCream do to maxim
Labor Productivity - Labor Productivity and Standard of Living - Consumption can increase if productivity increases. - Determinants of Productivity Stock of capit
WHAT IA GMP
Fluctuations in Growth Rates: Fluctuations in year-to-year growth rates in early stages were very marked, which indicated that the economy had failed to create conditions cond
They take deposits which mean borrow money and make loans which means lend money. The interest rate they pay on the deposits is less than the interest rate they charge on their loa
A film studio in Hollywood produces movies according to the function q = F(K;L) = (2=100)K^0.5L^0.5 In the short run, capital (studios, gear) is xed at a level of 100. It costs $
Explain the importance of well-established property rights in the method of development. Definition of property rights should not begin and end with owning land and buildings b
Why in 1996 did the BEA switch to calculate real GDP using the "chained-dollar method" from the "constant-dollar method"? The BEA made the switch from the constant-dollar metho
Q. Food purchases are relatively price inelastic since food is a necessity. If food is so required for life, how will we explain the heavy advertising of food items at the
Define Average Total Cost and Average Variable Cost Average Total Cost: The amount spent on producing every unit of output. The average cost is calculated by dividing the t
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