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Suppose at current factor prices a country’s manufacturers use 60 hours of labor for each acre of land and food is produced using only fifteen hours of labor per acre of land. If the economy’s total resources are 1800 hours of labor and 180 acres of land, how much labor and land are allocated to manufacture and food production respectively? If the labor supply grows 50%, what happens to the allocation?
If the price elasticity of a good is less than 0 but greater than -1, the good is considered _____________ and the company should ____________ price to maximize total revenue.
Suppose that the council of economic advisers to President Clinton recommends financing an increase in government spending on infrastructure by $30 billion through raising taxes on individuals with an annual income of more than $100,000. Distinguish ..
Taking a code of ethics "off the wall and into the hall" can be a particular challenge for medium to large firms with a diverse array of employees.
A profit maximizing competitive firm uses just one input, x. Its production function is q=8x1/2 . The price of output is 16 and the factor price is 8. The amount of the factor that the firm demand is. (a) 10 (b) 22.63 (c) 64 (d) 48 (e) None of the ab..
Should we worry or lose sleep over our $16 trillion public debt? If there are legitimate concerns related to our increasing public debt, what are they and why should they be of concern?
Describe how marketing segmentation helps identify target markets. Explain each of the common bases for segmenting consumer markets. Identify the criteria necessary for achieving effective segmentation. Contrast transaction-based marketing and relati..
Explain how does capital help human productivity in relation to farm labor, office help, teaching, or government administration.
A major industrial firm decides to spend $2,000,000 to purchase new machines for a factory. If the marginal propensity to consume is 0.8, the eventual change in GDP will be?
q.assume that the following asset values in millions of dollars exist in ironmaniacategory value federal reserve notes
Compute GDP for Joe using both the product and income approaches and show how they must agree.
Snip and Chip Inc. sells silk upholstery curtains for $150 each. The project's budgeted unit sales for four months during the current year
The prisoner's dilemma exercise assumes
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