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(a) If two firms face the same wage and rental price of capital but spend different amounts on labor and capital, how do their isocost lines differ? What happens to their isocost lines if the wage rate increases?
(b) If the wage rate increases, what happens to the capital-labor ratio used in production? Why?
(c) what is the difference between the capital-labor ration and the expansion path?
Consider a household that possesses $100,000 worth of values (computers, electronics, jewelry, etc). This household faces a 0.10 probability of a burglary. If a burglary were to occur, the household would have to spend $20,000 to replace the stole..
Imagine that you are trying to value a particular piece of wilderness that people use for recreational hiking and cycling. While this area has no entrance fee, statistics have been kept on who visits and how frequently they visit the area.
How would income distribution and resource use change if a flat rate tax on comprehensive income were substituted for current progressive income tax in United States?
Suppose the price of housing stays at 2 and the price of food stays at 10. What will happen to her budget constraint if her income increase to 100? What happens to her budget constraint when her income decreases to $20.
Online research seems to be the best. They all have pros and cons of some sort. I would use online research to reach a certain demographic and have links from sites that my target market would visit. The benefits would be to gain information us..
Marginal benefit and marginal cost functions and explicit costs of using market-supplied resources entail an opportunity cost equal to the dollar cost of obtaining the resources in the market.
Involving the e-Activity's testimony regarding the FBI's efforts to investigate IP theft, identify two best practices owners / executives can implement to protect against possible IP theft.
Calculate John's maximum daily profit and what is John's supply curve? Mathematically represent and then explain.
Compare and contrast each market structure. Make sure to discuss the differences in the productive and allocative efficiency when comparing and contrasting.
Use supply and demand analysis to describe why equilibrium price of apples will increase and the equilibrium quantity will fall if an excise tax is levied on apples.
The velocity of M1 money has moved erratically in the past several years because which of low and stable rates of inflation of regulatory changes allowing banks to pay interest on checkable deposits interest rates have been stable monetary policy ..
Many demographers predict that the United States will have zero population in the 21st century in contrast to average population growth of about 1 percent per year in the 20th century. Use the Solow model to forecast the effect.
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