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For those 50 or older, membership in AARP, formerly known as the American Association of Retired Persons, brings numerous discounts for health insurance, hotels, auto rentals, shopping, travel planning, etc. Use the marginal profit concept to explain why vendors seek out bargain-priced business with AARP members.
Compute the short- run and long- run results, explain the changes in the price and in the number of firms.
Suppose that macroeconomics forecasters predict that economy will be expanding in near future. How might managers use this information.
If the real wage can adjust to equilibrate labor supply and labor demmand, what is the real wage. In this equilibrium, illustrate what are employment, output, and the total amount earned by workers.
assuming that the marginal utility of the first four pieces of candy was 30, 28, 24, and 18 respectively, how much total utily was derived from eating three pieces of candy?
Explain how does a firm determine its prices also the quantity of labor need in the resource market during a specific period. How does a firm determine its demand for capital funds during a specific period.
How many units of labor should be employed? b. How many units of capital should be employed? c. What would be the total cost of production?
Find out the percentage change from last year to this year in the United States' nominal exchange rate with Russia
Trade liberalization leads to a "race to the bottom" in environmental standards. Make the argument and counter-argument, present the following data;
Illustrate what would be the cost saving of this change
Insurance agents receive a commission on the policies they sell.
Should the United States pass a minimum wage that assures all workers earn a wage above the level of poverty.
The New York Times (Nov 30, 1993) reported that 'the inability of OPEC to agree last week to cut production has sent the oil market into turmoil. the lowest price for domestic crude oil since June 1990.
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