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Q1. Markets left alone always tend to equilibrate, that is, find their way back to the equilibrium point. What is required to maintain a price that is higher or lower than equilibrium?
Q2. How does the supply of land differ from the supply of most labor? How will the effect on price of an outward shift in demand for labor differ from the effect on price of an equivalent shift in the demand for land?
Suppose we randomly poll 500 Americans and ask them whether they believe that the parents are involved. What is the distribution of the sample mean.
Presumptuous the demand curves were linear or graphically demonstrate your reasoning.
Sheila budgets $9 per week for her morning coffee with milk. She likes it only if it is prepared with 4 parts of coffee and 1 part milk.
Describe what a manufacturer of each product might do in the short run to increase production.
An existing company is considering expanding into a new product line that will use the same factory as its existing products.
Important determinants of the demand for workstations and must therefore be included in the study. How would you respond to this implication.
For the industry you have chosen, discuss how price moves from today to the future.
Assess what the results of the regression equation tells managers and how it is likely to impact decisions made related to maximizing profitability.
What is the difference between a production function and an quant. Explain the law of variable proportions with the help of quant.
Indicate whether there will be economies of scale, diseconomies of scale, or constant returns to scale if the facilities are built optimally.
What can you provide as advice to a manager concerning their choice on the quantity of labor and quantity of capital.
Statistical analysis indicates that a=0.8 and b=0.3. The firm's owner claims the plant has increasing returns to scale.
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