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Suppose that a firm's only variable input is labor. When the 50 workers are used, the marginal product of labor is 75 and the average product of labor is 50.
Which of the following two statements best indicates what effect the event has on average costs: (Average cost curve drops below where it would have been if the event had not occurred;
Discuss why do you suppose that even though Medicare was supposed to be self-sustaining indefinitely, Medicare taxes will fail to cover the program costs by 2024?
Determine the market for two goods that are substitutes, such as pens and pencils. If a technological breakthrough reduced the cost of producing pens.
Assume you win a lottery, and your after-tax gain is $40,000 per year until you retire. You decide to work part time at 32 hours per week in your old job instead of the usual 40 hours per week as a
What is the equilibrium price and quantity with the tax if a sales tax of $10 per night is instituted by the city of Boston to be collected from suppliers?
Identify the deadweight loss that would occur if a price ceiling of the 22 were introduced. If scarcities were to disappear and donuts were free, determine how many donuts would people want?
The treasurer of a firm famous the many invoices were received with the following terms of payment: "2%- days, net 30 days." Thus, if the bill is paid within ten days of its date, he could deduct 2%
Assume the nation of Sugarland consists of the 50,000 households, 10 of whom are sugar producers. Arguing that the sugar industry is vital to national economy, sugar formers propose an import tariff
A student is buying a new car. The sales tax is 8%, and the title, the car's price is $16,500, the license, and the registration fee is $450 to be paid in cash.
The investment will form a stream of revenue of $50 million per year end over a six year period with the operating costs of $20 million per year end for the first 3 years and $25 million per year en
Success of a company operating and investing in a foreign country depends on competitive advantage of the company. The entry strategy could be quality based, technology based or cost based. Explain
Today a new 7-megaWatt solar panel farm is constructed at a cost of $14 million. 4 years from today, a smaller 6-MW solar farm will be added to the existing farm. The inflation rate on solar panel c
The company wants to create 12 bottles of water. To minimize total cost determine how many bottles should formed in the 2 different plants.
What is the price elasticity of demand if the price of luxury cars increases by 4% while the quantity demanded decreases by 8%?
Goods that are used in conjunction with other goods. A fall in the price of a good will increase the demand for this type of good:
When the Federal Republic of Germany absorbed the German Democratic Republic in 1990, residents of East Germany had accumulated large amounts of savings.
The price of a used Ford SUV has fallen from $6,000 to $5,000, or 16.6%. Over the past year the inflation has been 10%. By what percentage has the real price fallen?
Where Si is the quantity of hospital services supplied by hospital "i" (A or B) and P is the price of hospital services. Note that SA or SB cannot be negative. Identify the market suppl
Explain the social and the economic effects of colonization? How did it contribute the "Price revolution"? Discuss what were the main tenets of bullions /mercantilism?
How can calculate the absolute value of the price elasticity at a price of $ if a price increase from $5 to$7 causes quantity demand to fall 150 to 100?
What happen to the quantity of apples demanded when the own price elasticity of demand for apples is -1.2 if the price of apples falls by5%.
Calculate the future value equivalent to the three annual payments? Assume i = 10%, compounded quarterly, with annual payments of A = 100.
How much will it cost her to produce 70 units of output when the Agatha has a production function 2x1+x and if the factor prices are $8 for factor 1 and $5 for factor 2?