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What two kinds of changes in the capital stock can improve labor productivity? How can each type be illustrated with a per-worker production function? What determines the slope of the per-worker production function? How do "rules of the game" affect productivity and growth? What types of "rules" should a government set to encourage growth?
Which of the following have traditionally been considered natural monopolies? Public universities, Public golf courses, public parks,public utilities
Perfect Competition is a model of which examples are few and far between. Yet economists love to discuss this model. Explain why.
Graph Jay's budget constraint when her income is 50, and the price of housing and food is 2 and 10 respectively. What happens to her budget constraint when M increases?
Calculate the price that the Plaza Movie House will charge for admission to movies in the long run and what will be the number of patrons per day at that price?
Sometimes it is convenient to think about the consumer's problem in its "dual" form. This alternative approach asks how a person could achieve a given target level of utility at minimal cost. this approach will yield the same choices for this consu..
Estimate the demand function
The demand for energy in the United States is often described as persistently non-cyclical and not sensitive to prices effects. Describe the effect of each of the following on the demand or supply for gasoline.
This is a self-reflection paper developed based on the classroom discussion around minimum wage. Explain the effect minimum wage has on the economy. List and describe both the pros and cons of the more recent increases in the federal minimum wage...
Determine the rate of can rent capital and marginal productivity of labor at its new targeed level of output. To minimize the cost, the car company should hire capital and labor until the marginal rate of subsitution reaches what portion?
How do these websites help the company strengthen its relationships with its stakeholders List the website(s) that you previewed and give examples to support your answers. Who are the stakeholders that the company serves
Suppose the price of product B increases to 3. What happens to quantity demanded of both products?b. Calculate the arc cross-elasticity between product A and product B using prices for product B of 2 and 3. c. Are these goods substitutes or complemen..
Westside Plumbing and Heating Company is offered a contract for $100,000 to provide plumbing for a new building. The labor and equipment costs are calculated to be $60,000 for fulfilling the contract.
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