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A purely competitive wheat farmer can sell any amount of wheat he grows for $20 per bushel. He is using a fixed amount of capital (tractors and plows) and he and his sister are the only workers. Thus cultivating each additional acre of land exhibits diminishing marginal productivity. That is, the first acre can produce 1000 bushels of wheat, the second acre produces 900 bushels, the third acre: 800 bushels and so on. Given this information, complete the table below.
Consider a small country that exports steel. Assume that a "pro-trade" government deicdes to subsidize the export of steel by paying
Assume a household receives a grant of $500 of food stamps every month. How will this household's budget line be affected.
Stan Money maker needs 16 gallons of gas to top off his tank. I he drives an extra 8 mile round trip Stan can save an extra $0.05 a gallon. Suppose gas costs $3.10 per gallon and Stan gets 24mpg. Each mile driven gives off CO2 that has an environment..
Respond to each of the following questions in 150-200 words each covering the economic topics and concepts described in chapter 9 and 10 of the text, Essentials of Health Economics.
If the value of jan's retirement portfolio increased from $210000 to 489000 over a 14 year period with no deposits made to the account over that period, what annual rate of return did she make?
assume an economy lasts for 2 periods. in period 1 only 1 agent is born this agent lives for 2 periods. in period 2 two
q1. suppose that on january 1 the price of one hundred yen was 0.80 and ppp held. over the year the japanese inflation
What does the difference in the CCCs tell us about the riskiness of the two firms? Why is that the case? If the expected industry return is 8%, will both firms stay in the industry? Calculate the cost of equity for the two firms?
if income were hypothetically $0 aggregate expenditures would be $2,500. What is the marginal propensity to expend?
Suppose that the production function is y=ka, where y and k denote production per unit of effective labor and capital per unit of effective labor, respectively. Suppose also that the saving rate, the depreciation rate, the growth rate of the populati..
NBC executives have developed a new professional sports league—the XBL (Extreme Badmiton League). The short-run production function for televised games has been determined to be Q=25L-2.25L2, where L is the number of players.
During tough economic shocks in our economy, you will find that the government is needed to get involved. How do you think the government can help improve market outcomes?
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