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Draw in excel an isoquant that shows little substitution between two factor inputs and on that shows large substitution. Vertical represents capital and horizontal represents labor.
Total reserves $80 billion, Transaction deposits $800 billion, Cash held by public is $100 billion, Reserve requirement .10. Are the banks fully utilizing their lending capacity? What would happen to the money supply initially if the public deposited..
why do you think drug companies spend so much on advertising for drugs they have a patent on (essentially giving them monopoly power) but so little on drugs with an expired patent when generic alternatives are available
Illustrate what is Great Reception's profit when producing at the profit-maximizing output
Find U.S. civilian employment date for the last 10 years. How many more workers were there at the end of the last 10 years than at the beginning. Elucidate how did this impact the nation's production possibilities curve.
An industry said to be characterized by monopolistic competition is the apparel industry. Suppose you were hired as a consultant by a firm in this industry. How would advise the firm as to the levels of output, price, input usage, and advertising?..
Start by drawing the Short-Run Aggregate Supply and Aggregate Demand diagram with short-run equilibrium at Price Level = 165 and real GDP = 2750. Next, the following shock hits the economy: Concerned about an economic slowdown possibly turning into a..
A single-price monopolist sets price?
What is the value of net domestic product (NDP)? What is the value of national income (NI).
Share your thoughts on labor unions today. Do you have any personal or family experiences with unions? Do unions serve a valuable purpose in today's business world? Be specific about what costs and benefits you feel unions contribute today.
Suppose a monopoly can produce any level of output it wishes at a constant marginal (and average) cost of $5 per unit. Assume the monopoly sells its goods in two different markets separated by some distance. The demand curve in the first market is..
Describe the Stolpher-Samuelson theory of trade. How does it differ from the factor endowment model? What are its predicted effects on wage-inequality in (a) industrialized countries that are capital-abundant and (b) developing countries that are lab..
In essence, do you agree with each statement? Explain why or why not? The best test of the performance of two different regression equations is their respective values of the coefficient of determinations.
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