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If a firm sold $700 worth of goods which cost $1,000 to produce: A. national income would no longer equal GDP. B. the firm's loss needs to be subtracted from final sales so that income and output are still equal. C. the firm's loss would not be added to national income. D. national income would still equal GDP.
Why is there currently an even greater need for effective employee communications? Describe some efforts made by U.S. firms that demonstrate the uniquely American concept of corporate social responsibility (CSR). Provide examples to support your ans..
Genentech owns a patent on tissue plasminogen activator (TPA), which is an enzyme that helps the body break down blood clots. TPA is particularly valuable to cardiac patients, since it often allows heart problems to be treated with medication rather ..
Draw the complete Solow growth model, identify equilibrium and label completely and correctly. Now suppose that there is a negative shock to total factor productivity. Draw the implications of this change on your graph. Identify the changes to per ca..
A firm in a competitive input market can
Rental cars should be treated as perfectly divisible. Be sure to provide numerical coordinates for any particularly key point.
Identify some core values of this organization as best as you can. What do they believe in (beyond organizational success or profitability)?
When the wage rate increases, individuals recognize that the opportunity cost of leisure has risen, choose to substitute labor for leisure, and thus offer to work more hours. This is called the
Mauricio has a circus act, and he has a budget of $720 to spend on monkeys and unicycles. The cost of a unicycle is $120 and the cost of a monkey is $90. Please graph Mauricio\'s budget constraint on the graph below.
Suppose government spending increases in a closed economy. Would the effect on aggregate demand be larger if the Bank of Canada took no action in response, or if the Bank were committed to maintaining a fixed interest rate.
Assume 3 firms, A,B, and C, compete for market share via quantity competition. Assume all firms have the same constant marginal costs cA = cB = cC = 1 and that market demand is given by D(p) = 101 minus p. Solve for the unique N.E.
What is the efficient level of for this firm? How much profit would Elm Industries earn at this level of production? How much would total damages be? What would be the net benefits?
Take the first, second, and cross derivative of F(K,N). Explain what the sign of each one means. Divide the function by N and show that the function can be written as F(K,N) = (KN)↵. Letting k = KN, express F(K,N) as a function of just k and let that..
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