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The winners of the Nobel Prize in economic science were recently announced-who were they? For what contribution to our understanding of economics were they recognized? Would you say a free society would be enhanced by adopting their findings? Explain Be sure to attach copies of the sources you relied upon."
What is the hypothesized elasticity of demand for one product/service that is produced by the company (or a product/company you are familiar with)?
Show such data graphically. Upon what specific assumptions is this production possibilities curve based? If the economy is at point C, what is the cost of one more automobile? Of one more forklift? Describe how the production possibi..
There are 10 identical firms that have the common cost function c(y) = y 2 + 9. The industry demand function is given by X (P) = 200/
Calculate the equilibrium real wage rate and the equilibrium quantity of labor. Suppose that the nominal wage rate equals 60. In the short-run, aggregate demand and aggregate supply are equal at a price level of 1.0. Compute the real wage rate.
The supply curve for labor is S L = 100W, where W is the market wage. The marginal revenue product curve for the firm is D L = -50W + 450.
What is the marginal opportunity cost of services in each country? Who has the comparative advantage in factory-stuff?
Calculate the expected level of demand in a typical market. Indicate the range within which actual demand is expected to fall with 95% confidence.
The rising stock market implies an increase in wealth, at least as measured on paper. If we assume that some of this increased wealth gets consumed, then the rising stock market fuels an increase in aggregate demand, and may contribute to an inflatio..
Illustrate the position of US economy over the next couple of years using aggregate demand and supply curves if these expectations are to be realized.
Consider the problem of the book assuming that the utility is Cobb-Douglas (U (C, l) = C α l β )
State with brief reasons whether the following statements are true, false, or uncertain.
Tom earns $15 per hour for up to 40 hours of work each week. he is paid $30 per hour for every hour in excess of 40.
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