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A barber shop produces 192 haircuts a day. Each barber in the shop works 8 hours per day and produces the same number of haircuts per hour. If the shop’s productivity is 2 haircuts per hour of labor, then how many barbers does the shop employ?
Canada increased from 7,500 kg per month to 8,000 kg per month. Use calculated elasticity to comment on substitutability or complementarity of coffee and tea
Suppose a soft-drink firm is grappling with the decision about whether or not to introduce to the market a new carbonated beverage with 25 percent real fruit juice. How might it use the six decision steps to guide its course of action?
Find an article (newspaper, magazine, or online) talking about any of the core issues or scarcity resources of economics. Use an article to answer the questions: What core issues or resources does the article talk about?
elucidate how the changes in the monetary policy effectiveness lag and the interest-rate multiplier affects how much and how long monetary policymakiers must change interst rates in response to any given demand shock.
If this tariff is imposed, how much will consumers pay for a pound of tea. What is the quantity demanded. Compute the decline in consumer surplus.
1. Define supply as an economist would. 2. List and explain three (3) non-price factors that will shift the supply curve.
Elucidate how that influences the marginal benefits and marginal. Costs associated with your decision to purchase a house.
The bicycle industry is made up of 100 firms with the long-run cost function c1(y) = 2 + (y^2)/2 and 60 firms with the long-run cost function c2(y) = (y^2)/10. No new firms can enter the industry. What is the long-run industry supply curve for prices..
Riley deposits $4,000 cash in her checkable deposit at Fershur Bank. If the desired reserve ratio is 5%, Fershur Bank’s
Suppose you are given a money supply model where r = 0.1, e = 0.2, and c = 0.4. What is the money multiplier? What change in the money supply will result from an open market sale of $400,000?
This exercise presents a simple example to elucidate how exchange-rate conversions can produce misleading results and how the PPP methodology works.
Suppose that in response to a foreign crisis, the government increases defense spending by $50 billion. How would the increase in defense affect the economy? How would the effects differ depending on the size and sign of the output gap when the cr..
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