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Show that if oil is produced from two reservoirs, one with high marginal cost and one with low marginal cost, it is not possible for the Hotelling rule to be satisfied for each reservoir simultaneously. Give two reasons that oil might be produced from high and low production cost reservoirs simultaneously.
Assume that the following data characterize the hypothetical economy of Trance: money supply = $180 billion; quantity of money demanded for transactions = $160 billion; quantity of money demanded as an asset = $10 billion at 12 percent interest, i..
Legal Issues- do you follow US law or Switzerland 8. International Franchising- any issues 9. Intellectual Property considerations 10. Completion of import documents needed for entry into the U.S. to include the tariff classification number and i..
What does the analysis of the 'hold up' problem contribute to the explanation of the size and scope of firms?
the company ABC Inc. bought a machine for automatic playback of " software " at a cost of $ 20,000 ( the "original cost" ) . The expectation was that the machine had a useful life of 5 years , after which have a residual value of $ 5,000 ( "salvage v..
The invisible hand principle, as developed by Adam Smith in The Wealth of Nations, states that A) government control over economic activity is essential for the talents of individuals to be directed toward their highest valued use. B) the economic ..
Construct a table showing the (net) marginal revenue product derived from assembly worker employment and how many assemblers would Just Bikes employ at a daily wage rate of $100? Explain your answer and show all calculations.
Suppose a firm has the following demand equation, Assume the company decreased the price to $2.50. Would this be beneficial? Explain. Illustrate your answer with the use of a demand schedule.
Given the asymmetric information situation a prospective employer faces in hiring from this labor pool, what is the average salary that they would pay without a signal?
Show your steps. B. After the equilibrium is reached, suppose 100,000 new jobs are created, causing 200,000 new migrants to enter the city. Does the equilibrium rate change? What is the new rate of urban unemployment right after the new migrants h..
Always Round Tire has a production function of Q = 300 L.75 K.5. In the short run, if L = 250 and K = 25, what happens to the output of tires if L jumps to 300 and then 350. What law does this illustrate?
The United States is currently recovering from its bad recession in over twenty-five years. Using the resource provided in this and earlier modules of course describe what factors
Discuss how is it possible to change society, for Marx, through using relationship between economy on the one hand and the political environment on the other.
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