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"Cultures around the world are becoming increasingly similar, so companies should standardize both their products and global marketing efforts." Do you agree or disagree with this reasoning? Are there certain industries for which it might be more or less true?
A steel producer has the production function q=10K^0.75 E^0.25 where q is the quantity of steel, in metric tons, K is the firm's capital stock, and E is the number of labor hours it employs (measured in thousands). a) Assume the firm's current capita..
The firm requires at least 10 units of input A or 2 units of input B in order to produce 1 unit of output Y. Describe this technology by mathematical function. Draw the production isoquant that corresponds to 40 units of output Y.
a draw the supply and demand for apartments. assume in this market all apartments are identical so there is only one
The market for physiotherapists is competitive. Chiropractic services and physiotherapy services are substitutes. Currently the price per visit is $40 and the quantity utilized is 30,000 visits annually. Physiotherapists face stiff competition from c..
The Solow model with population growth and labor-augmenting technological progress predicts balanced growth in the steady state. Growth rates of which variables are predicted to be balanced (i.e., will be equal) in the steady state?
Suppose that the governmental authorities wished to decrease use of a pesticide that is leaching into groundwater supplies in a watershed by 60% from current use levels.
Per capita income in County A is $45,000. Per capita income in County B $38,000. Physician visits average 3.4 per year in County A and 3.2 per year in County B. What is the arc income elasticity of demand for visits?
Suppose the U.S. economy is in a recession and faces relatively high inflation. List only the monetary policy approaches the Fed could take to resolve these two problems (i.e, do not list the policy tools—just describe in general what the Fed could d..
Do you believe there is a power shift away from the U.S. and that the west is in decline? Why or why not? Do you believe the U.S. should cede this power? What impact would we see if the U.S. did cede power to Brazil, Russia, India or China?
After reviewing the first few chapters of your textbook Money and Banking , write a short paper on how your life is affected by the financial system. Find at least two online sources to support your position. For example, you can reference an article..
Soundscape Enterprises manufactures Sonoblast, a device that produces a high-pitched reminder to telemarketers that they have once again disturbed you just when you were sitting 1⁄2 down to dinner. The production function for Sonoblasts is given by t..
Following a devaluation of the Greek drachma, which of the following products sold in Greece is most likely to bear a drachma price increase? IBM mainframe computer, whose only competition comes from other American computer companies.
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