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Suppose that the table below shows an economy's relationship between real output and the inputs needed to produce that output: Input Quantity Real GDP 150.0 $400 112.5 300 75.0 200
a. What is the level of productivity in this economy?
b. What is the per-unit cost of production if the price of each input unit is $2?
c. Assume that the input price increases from $2 to $3 with no accompanying change in productivity. What is the new per-unit cost of production? Instructions: Include two decimal places in your answer. $ In what direction would the $1 increase in input price push the economy's aggregate supply curve? RightLeft What effect would this shift of aggregate supply have on the price level and the level of real output? Price level would increase and real output would decrease.Both price level and real output would remain the same.Price level would decrease and real output would increase.Price level would decrease and real output would remain the same.
d. Suppose that the increase in input price does not occur but, instead, that productivity increases by 100 percent. What would be the new per-unit cost of production?
What effect would this change in per-unit production cost have on the economy's aggregate supply curve? RightLeft What effect would this shift of aggregate supply have on the price level and the level of real output? Price level would increase and real output would decrease.Both price level and real output would remain the same.Price level would decrease and real output would increase.Price level would decrease and real output would remain the same.
Raymond producing is a privately held corporation; all long-term finances are from the Raymond brothers in the form of equity interests.
Explain how might the international monetary system be reorganised to rely less on the US dollar.
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Use the following data for a firm's output at various levels of employment to calculate: (a) its marginal physical product of labour (MPPL) schedule.
Elucidate whether demand for that products and/or services is relatively price elastic or relatively price inelastic and explain why.
a. Explain how asymmetric information about a hidden action or a hidden characteristic can lead to moral hazard or adverse selection. b. Discuss a few tactics that managers can use to overcome these problems.
Prior to opening his hardware shop Bob worked as an investment banker earning $175,000 each year. He pays his employees $150,000 per year.
In the US, steel production has remained constant since the 1970s at about 100 million tons per year. Large integrated companies, like United State Steel, remain important in the industry, but roughly 50%.
Find the solution using the mathematical equivalence formulae (such as F=P(1+i)n), substitute and solve (with your calculator - not with the tables) for the final answer? Solve by using the proper equivalence expressions (such as F = P(F/P, i, n))..
Suppose the following table describes the marginal costs and marginal benefits of waste (garbage) reduction. What is the optimal amount of garbage What is the situation if no garbage is allowed to be produced Percentage of Waste Eliminated/Marginal..
Does the structure of global economy permit poor nations to catch up with rich ones? Is the Solow model a useful framework for understanding whether poor nations tend to catch up with rich ones?
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