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Given the production function: q= 72x+15x2-x3 where Q= output and x= input. What is the Marginal Product (MP) when X = 8?
Analyze and explain in detail using graphical tools to show what you expect to happen to the number of firms and firm profitability in the short run and long run a) if demand for the product falls a
Explain why purchasing power parity measures of income levels tend to show a smaller difference between poor and rich countries
Considering the determinants of productivity, list and explain some things that would tend to prohibit or limit a poor country's ability to catch up with the rich ones
Explain: (a) In what way the U.S trucking industry exemplified the capture theory hypothesis of government regulation prior to the. ... the capture theory hypothesis of government regulation prior t
What do you think causes changes in each of the expenditure (spending) components of GDP thereby causing changes in our economy's output, employment, and income levels?
Write out the formula for the Price Elasticity of Demand. Now, given the following market demand schedule, calculate the Price Elasticity of Demand using the midpoint method, for both gaps,
What impact does the dollar appreciation have on the firm's international competitiveness?
What considerations come into play when considering whether the United States or any other political entity is spending the right amount for environmental quality improvements?
What is the economic rationale behind a patent? Why may the effective patent life of a drug be shorter than the legal life?
in seeking to explain what determines GDP, monetarists focus on the money supplly while keynesians focus on the spending components of total planned expenditures.
A firm has fixed costs of $4,000. Its short-run production function is y = 4 , where x is the amount of variable factor it uses. The price of the variable factor is $4,000 per unit. Where y is the a
African countries, such as Botswana. Describe the effects of HIV/AIDS on the economies of these countries. Make sure you discuss the sources of economic growth and the use of scarce resources.
Marginal revenue product equals:
The fact that the cross-price elasticity of natural gas with respect to the price of fuel oil is 0.4 implies that
Appalachian Coal Mining believes that it can increase labor productivity and, therefore, net revenue by reducing air pollution in its mines. It estimates that the marginal cost function for reducing
Estimate how much the money supply will increase in response to a new cash deposit of $500 by completing the accompanying table.
Based on the the US department of justice merger guidelines, do you think the Justice Department is likely to challenge the proposed merger?
At the market price of $12.50 per unit, the firm's marginal cost curve crosses the marginal revenue current an output level of 1,000units. What is the firm's current profit? what is likely to occur
We know that many companies have management training programs in which new trainees are paid relatively high starting salaries and are not expected to make substantial contribution to the company un
Most economists agree that the immediate determinant of the volume of output and employment is the:
Which ones are required to fight inflation? What are some of the downside risks and potential problems involved when using fiscal policy?
If diamonds are produced by perfectly competitive firms, what quantity of diamonds will be produced? How much profit will the perfectly competitive firms earn? If diamonds are produced by a single mon
Find the (Nash) equilibrium prices of the procedures at the hospital. After the merger, find the profit maximizing monopoly prices of the procedure at each hospital. Does the merger result in price in
Summarize the four variables using graphical and statistical measures. Discuss the results. Use scatter diagrams to show the relationship between total gross sales and each of the other three variab