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A bakery has fixed costs of $10 per day and variable costs of $1 per loaf. Its oven can handle up to 50 loaves a day and it is impossible to obtain additional capacity. Sketch the
Shows the productivity for the countries Pin and Pang. Machines Bread Pin 4 or 3 Pang 3 or 8 1) If the working population of Pin and Pang are both 6 million, divide
Roles of government in controlling market forces under neoclassical view
Q. Relation between Money - wealth and income? Money isn't the same as wealth. An individual may be very wealthy however have no money (for instance by owning stocks and real e
Q. Explain money market with inflation? The money market with inflation Let's begin with the money market diagram and introduce inflation. As M D relies positively on P
Q. Augmented Phillips curve? Remember that Phillips curve, as it was incorporated into the Keynesian model, presumed a stable relationship between wage inflation andunemploymen
discuss how opportunity cost principles influences a supplier''s decision to supply labor
Consider a market for fish whose market demand and market supply for fish is specified as Qd = 300 - 2.5 P and Qs = - 20 + 1.5 P respectively. The equilibrium price and quantity is
In a Poisson distribution U=4. A) What is the probability that X=2? B) What is the probability that X is 2?
Consider an economy in which George and Harriet consume only ale and bread. George's utility function is UG = aG(bG- 1) where aG and bG are his consumption of ale and bread. Harrie
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