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What happens to the income of a factor of production when it becomes more mobile? Other things being equal, would the income to the owners of this factor rise or fall? Why?
You are the manager of a firm that receives revenues of $175,000 per year from product X and $50,000 per year from product Y . Both products have similar production costs. The own price elasticity of demand for product X is -1.5, and the cross-price ..
Jaynet spends $25,000 per year on painting supplies and storage space. She recently received two job offers from a famous marketing firm – one offer was for $105,000 per year, and the other was for $85,000. What are her accounting profits? What are h..
Joe makes monthly deposits of $1,000 into an account with an NAR of 8% and weekly compounding. What will this be worth in 5 years? (This can be done by converting both the rate and payments to weekly, monthly or annually)
Why might you expect individuals who were unemployed in their 20s to have lower wages at the age of 40 than individuals with identical educational backgrounds but who were not unemployed? How do you think the internet and online shopping would affect..
Theodore Levitt has argued that the world is flat and that due to the advent of modern communications and transportation technologies, consumer tastes and preferences are becoming global. However, this position is considered extreme by many business ..
What is the difference between framework convention and a protocol? What are the advantages and disadvantages to a two-stage approach to negotians? Why do most negotiations for globl environmental regimes end up taking a two-stage approach?
Illustrate what is the short-run supply curve for each firm in the company. What is the short-run supply curve for the industry as a whole,Qs.
The demand function for a firm’s product is Q = P!3. The firm’s marginal cost of production is constant at MC(Q) = 12. Using your answers to (a) and (b), what is the firm’s profit-maximizing markup? (Justify your answer carefully. Do not forget about..
Due to ever-accelerating technological growth, _________________ unemployment is on the rise worldwide.
Derek consumes only rackets and tennis balls. His utility function is U(x,y)=x^2y^8, where x is the number of rackets consumed and y is the number of tennis balls consumed. Derek's income is $320, and the prices of rackets and tennis balls are $4 and..
How did the Spanish crown initially fulfill its need for African slaves in the early sixteenth century? The African kingdom of Kongo nearly disintegrated from internal political struggles that followed many ruinous wars with the... The English joint-..
What is the decision facing GetFeedback? what factors are important in understanding this decision situation? what are the alternatives? What decision(s) do you recommend? What are some ways to implement your recommendation?
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