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Question: Fill in the rest of the production function for Candy's Candies from the information provided.
a. Candy's Candies begins to experience diminishing marginal product with which worker?
b. Does Candy's Candies ever experience negative marginal product? If so, with the addition of which worker?
In a small European country, it is estimated that changing the level of capital from $8 million to $10 million will increase real GDP from $2 million to $3 million.
Suppose the function U(x)=ln(x) where x is consumption represents your preference over gambles using an expected utility function. You have a probability δ of getting consumption xB (bad state) and a probability 1-δ of getting xG (good state).
Discuss the role that global inequality and poverty have played in your chosen event. Provide examples of these roles to support your rationale.
If the economy characterized by the production possibilities table were producing 3 automobiles and 20 forklifts, what could you conclude about its use of available resources ?
Explain how globalization affects the gross domestic product (GDP).
Explain how much will your company's total revenues revenues from both products change if you increase the price of good X by 1 percent.
Discussed the story of Dalton, Georgia, and its role as the "carpet capital of the world." A similar story can be used to explain why some 60% of the motels in the United States are owned by people of Indian origin or why, as of 1995, 80% of do..
Suppose if the economy currently has a frictional unemployment rate of 2%, structural unemployment of 2%, seasonal unemployment of 0.5%, and cyclical unemployment of 2%, determine the natural rate of unemployment?
in a recent speech the governor of your state announced one of the biggest causes of juvenile delinquency in this state
Y = 20000 + 4000X. What would be the estimated value for the average increase in income from going to college for four years versus going to work directly out of high school?
Using official intervention, what does the Moroccan monetary authority have to do to keep the exchange rate at $0.12 per dirham? If private investors and speculators believe that the $0.12 per dirham exchange rate is not sustainable, and the exch..
What will happen to Y (GDP), r (real interest rate), P(price level), and I(investment), in the short run ?The answer should indicate will these values increase or decrease in the short run.
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