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At 36 units of labor, a firm finds that both average product of labor and marginal product of labor equal 42. We can conclude that the average product curve at 36 units of labor is
a. upward-sloping.
b. downward--sloping.
c. vertical.
d. horizontal.
You were told that a certain cash flow sequence started at $3000 in year 1 and increased by $2000 each year. How many years were required for the equivalent amount worth of sequence to be $12000 at an interest rate of 10% per year? You were told that..
Lifecycle models base on the assumption that households want to maximize their consumption and at the same time insure themselves against income shocks. Are there other arguments that can reconcile the empirical observation of consumption dispersion ..
In general, do you favor having government more and more power to regulate private industry? Please provide documentation for your answers. Feel free to comment on the postings of your fellow students.
Why is it that a profit-maximizing businessman would always raise prices when facing an inelastic demand curve, but might or might not raise prices when facing an elastic demand curve? Explain and justify your answers in detail
This means “to let the decision stand” and is used by courts to make consistent judgments.
Total federal revenues as a percent of GDP (Gross Domestic Product), since at least World War II, have remained just under. At least one critic of the comparison of revenues as a percent of GDP has stated that the median and average percentage for ta..
After reading about the Solow growth model, which concludes that continued economic growth requires continual innovation, and Schumpeter’s dynamic growth model, does the combination of these two models provide an adequate model of technological chang..
What impact will high and variable rates of inflation have on the economy? How will they influence the risk accompanying long-term contracts and related business decisions?
The Green Company produces chemicals in a perfectly competitive market. The current market price is $24; the firm’s total cost is given by the equation C=100+4Q+Q2. Determine the firm’s profit-maximizing output. Determine its level of profits. Does t..
At the end of 2012 the prestigious Rolex watch manufacturer had in inventory of watches worth $725 dollars. In 2013, Rolex produced $333 worth of watches and sold $260. What was the change in inventories in 2013? (hint: careful with the signs, rememb..
The project management role has several responsibilities in the area of scope. Which of the following represent these areas for scope.
Which is true about Medicare?
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