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The average age of engineering students at graduation is a little over 23 years. This means that the working career of most engineers is almost exactly 500 months. How much would an engineer need to save each month to become a millionaire by the end of her working career? Assume a 6% interest rate, compounded monthly?
Using the equation in (c) show that if the capital/labor ratio K/L is a constant k, the elasticity of output with respect to labor is b + c. (e) Why are relationships expressed like those in (c) important for doing econometrics? (f) Show that the ..
Industry studies often suggest that firms may have long-run average cost curves that show some output range over which there are economies of scale and a wide range of output over which long-run average cost is constant.
in your own words describe the meaning of average cost. you normally buy a crate of wine for 75. one crate has 6
What is the price elasticity of demand? Provide four reasons why the demand for medical services is likely to be inelastic with respect to its price.
Presume a consumer's preference can be represented by the utility function U(X, Y)=X*Y. Also suppose the customer has $150 to spend and the price of good X is Px=$2 and the price of good Y is Py=$3. If the customer maximizes their utility subject to ..
Require a lot of calculations in STATA
a justification for job training programs is that they improve worker productivity. suppose that you are asked to
Imagine a local government is considering opening a public swimming pool in a residential neighborhood
. Assume the annual interest rate at 8% per year and the investments and withdrawals of funds are made at the end of each year. How much money you will need in this account right after your last deposit How much do u have to invest each year to rea..
suppose the initial conditions of the economy are characterized by the following equations. in this problem we assume
is stability in the general level of prices through time important? why or why not? should price stability be the goal
Assume you are hired as a consultant by Barks Industries, a company in a monopolistically competitive industry. How would you advise the company in terms of pricing, output, resource usage, and advertising?
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