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Given the current state of energy use, which continues to grow exponentially in such countries as China and India, what measures can the United States and other Western countries take to produce more fuel-efficient and environmentally friendly fuels?
If the unemployed workers in the newly unionized sector spill over into the nonunion sector? How many employees will be hired in that sector? D. What is the union relative wage advantage? What is the true absolute effect?
The U.S. supply and demand curves for cars cross at $10,000, but U.S. carmakers can sell any quantity of cars to foreigners at a price of $15,000. One day the U.S. government announces that it will pay manufacturers a subsidy of $2000 for every car s..
Elucidate how if at all every of the following events will affect a country's production possibilities curve.
A firm has a choice of 2 production technologies. One allows the firm to produce using production function F (K,L) = 10K^(1/3)L^1/3. The other production function is G (K,L) = min (3K,3L), the firm wants to produce 100 per units per month in each of ..
What factors determine the elasticity of industry’s labor demand curve? Based on these factors, discuss labor demand for factory line workers versus labor demand for nurses, which one would be more elastic?
Suppose the repeated application of a pesticide used on orange trees contaminates groundwater. The pesticide is applied annually in almost all of the orange groves throughout the world. Most orange growers regard the pesticide as a key input in their..
Which of the following is true concerning production in a free market economy? Which of the following represents how private property rights act as incentives in a free market economy?
If the price were $25, this firm would _______ in the short run and _______ in the long run. In the United States, natural monopolies. If a monopoly firm can sell its eighth unit of output for a price of $175, it may expect to receive a price _______..
Identify the two events that can cause a shift in the Production Possibilities curve.
Kennywood Amusement Park spends $75,000 each year in consulting services for ride inspection and maintenance recommendations. New actuator element technology enables engineers to simulate complex computer- controlled movements in any direction. Assum..
Where does this short-run aggregate supply curve intersect the long-run aggregate supply curve that you drew? Just need an explanation of what it woudl look like?
For a normal good, the income and substitution effects
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