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Calculate various measures of productivity and explain they mean.
Explain in words what the marginal productivity of labor and average productivity of labor measures and why this is important information for the owner of a business.
Why does marginal productivity rise and then fall in the short-run?
Why people at buffet s put more on their plates and eat more the greater the variety of items they have to select from.
Economists have often found that purchasing power parity gives a closer approximation to reality during periods of very high inflation than during "normal" times. can you provide an explanation for why this might be so?
A student taking economics, statistics, and finance has decided to spend 9 hours per week studying. The objective is to maximize the average grade, which means maximizing the total grade in the three courses. How should the student allocate her time?..
Choose at least two (2) risk implementation considerations you need to decide (in advance) within a project. Provide a rationale for your response.
In 2010, 60% of the population in the U.S. was of working age. In 2025, 56% of the U.S. population is expected to be of working age. Calculate the effect of this change in demographics on the annual growth rate of the GDP per capita if the GDP per wo..
During the recent recovery, we have noticed high profit levels and high production levels by firms, yet unemployment has remained relatively high. Explain this issue by discussing the use of capital and labor in the production of goods and services.
A new six-speed automatic transmission for automobiles offers an estimated 3% improvement in fuel economy compared to traditional four speed transmissions in front-wheel drive cars. If a four-speed transmission car averages 31 miles per gallon and ga..
The head of the accounting department at a major software manufacturer has asked you to put together a pro forma statement of the company's value under several possible growth scenarios and the assumption that the company’s many divisions will remain..
The relevant cost in economic decision-making is the opportunity cost of the resources rather than the outlay of funds required to obtain the resources.
If you know that the marginal utility per dollar spent on product Alpha is less than the marginal utility per dollar spent on product Beta, consumers who spend all their income on these two products can:
Elucidate why relatively flat as opposite relatively steep worker demand curves are more consistent with the empirical observation.
Compute point elasticities at prices of 5 and 9. Is the demand curve elastic or inelastic at these points.
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