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1.) Suppose Bob owns a pizza place in a competitive market. If an additional worker will cost Bob $200 and offers marginal productivity of 40 pizzas, what is the marginal cost of producing a pizza? Show your work and explain your reasoning.
2.) Consider the market for managers. Assume the opportunity cost of earning the MBA decreases for many people. Let's assume it typically takes about two years to complete the MBA, so what happens to the equilibrium wage for managers in two years other things equal? Draw a picture use it to explain your reasoning.
Periodically you hear of garbage strikes. Is garbage pickup a public good? Does garbage create externalities? What should be done about it? Why does garbage collection seem to attract organized crime?
GDP rises from 6 trillion in 2001, base year, to 12 trillion in 2008. the gdp deflator is 180. Find real GDP in 2008. Find the percentage increase in real gdp between 2001 and 2008.
What is the percentage of this problem a country has a population of 2,130,819, and another country's has a population of 11,862,740 what is the percentage when you compare the two countries
1.suppose the economy is experiencing inflation. what would be the interpretation of ho-w a restrictive monetary policy
Explain why do you think the labor supply curve for very gifted or unique people is quite inelastic.
a) What are BRICS' shares of the world population, the world GDP and the world total trade? b) What is BRICS' proposal for a new World Bank and International Monetary Found (IMF)?
Describe expansionary and contractionary fiscal policies. Identify the situations in which expansionary fiscal policy and contractionary fiscal policy would be used.
Calculates the percent return to the investment in new air facilities to be 12 percent. Will net benefits from resource use increase as a result of construction of new air travel facilities?
Illustrate what are the benefits of free trade. Who are the winners and losers when the government imposes tariffs and quotas.
Calculate the missing data, graph the Marginal Revenue Product (MRP) curve, and answer the questions. The MRP = marginal revenue product is calculated as MP x Price = MRP.
While there are many arguments both for and against this view, some find the following argument to be most persuasive of all: "The laws of supply and demand indicate that higher cigarette prices are ineffective in reducing smoking.
At the end of October, year 1, Specialty Training, an accrual-basis, calendar-year taxpayer, was hired by Dunbar Company to provide a six-week training program for its employees. Specialty was paid its full training fee of $30,000 on the first day of..
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