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Suppose a car wash firm that has 3 workers is able to wash 120 cars per day. When it adds one more worker, it is able to wash 152 cars per day in total. Suppose each car wash costs $15. Then the marginal revenue product for the 4th worker is ?
Please enter a whole number, with no decimal point.
Describe how the budget constraint of a household in a two-period model is affected by each of the following changes. In each case, do you think that the household is better off or worse off, or is the answer ambigous? If ambigous, what does the a..
Patients who need the surgery must pay for it themselves. Among which of the surgeries has the lower inflation rate.
Assume that t rises to 0.25. What's the new equilibrium income and the new multiplier? d) Calculate the variation of the budget surplus, would the variation of the surplus be higher or lower if c = 0.9 instead of 0.8.
Evaluate the following statement: "I am a manager in a governmental agency. I have no control over compensation policy. All workers are paid the same salary (everyone is paid according to a set schedule and their remuneration cannot be adjusted by..
Assume that Serena Williams desires to accumulate $1 million in 15 years using her money market fund balance of $182,696. At what interest rate must Serena’s investment compound annually?
Explain the neo-classical theory of trade and show the difference between this and the classical approach, as wellas the similarities
Suppose the consumer/worker values two things: a consumption good C and leisure L. Suppose that there are 24 hours in a day and the consumer/worker has a utility function U (C, L) = ln C + L The price of consumption is P and the wage rate is w: Yo..
The Federal Reserve System [Fed] has a huge measure of political independence. The Board of Governors, appointed through the United States president and confirms by the United States Senate, serve fourteen year terms.
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
Market Value of the final goods and services produced in the domestic economy= $1,15,000 of which goods worth $10,000 are distributed among the Tsunami Victims. Net factor income to abroad= 4000 and the govt. is offering subsidies to the producers..
Elucidate the difference between GDP and GNP. What adjustments needs to be made to GDP to arrive at GNP.
How is duration related to the interest elasticity of a fixed-income security? What is the relationship between duration and the price of the fixed-income security?
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