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Question: Say that your firm's total product curve includes the following data: one worker can produce 8 units of output; two workers, 20 units; three workers, 34 units; four workers, 50 units; five workers, 60 units; six workers, 70 units; seven workers, 76 units; eight workers, 78 units; and nine workers, 77 units.
a. What is the marginal product of the seventh worker?
b. When does the law of diminishing product set in?
c. Under these conditions, would you ever choose to employ nine workers?
To increase tax revenue, the US government in 1932 imposed a two-cent tax on checks written on deposits in bank accounts (In today’s dollars, this tax was about 25 cents per checks)
In addition, you will submit the section of the sales plan project that describes the 4 P'S (product, price, place, and promotion) of the fictitious product chosen for the plan. The length of the report should be 1-2 pages in length.
If a good is non-rival and non-excludable, it will never be produced by the private sector (i.e., public sector intervention is required in order for a non-zero quantity of such a good to be produced). Clearly explain why this answer is false.
Professional football teams sometimes charter airplanes to take them to their away games. Would you feel safer on a United Air Lines plane that had been chartered by the Washington Redskins than on a regularly scheduled United Air Lines flight
What is the MRS at any point if x is a neutral good? Explain why. If the good on the y axis was a neutral good and the other good was a regular good.
1. Define both race and ethnicity. 2. Define both stereotypes and discrimination.
You are the manager of a firm that receives revenues of $60,000 per year from product X and $80,000 per year from product Y. The own price elasticity of demand for product X is -1.5, and the cross-price elasticity of demand between product Y and X is..
Price discrimination is selling a product at different prices when the underlying cost is the same. Describe the conditions necessary to price discriminate.
Details of the steps Kim took to undertake an initial review of the use of standard documentation. Details of those things which indicated to Kim that templates and macros were not being used properly.
in the two-period consumption model suppose that y1 100 and y2 210. there is no initial wealth. if the utility
choose and research an industry where there has been a pattern of change in a particular market model monopoly
a monopolist faces demand given by p 100 - .4qd and has marginal costs given by mc 10 .2qa. draw demand marginal
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