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With current technology, suppose a firm is producing 400 loaves of banana bread daily. Also assume that the least-cost combination of resources in producing those loaves is 5 units of labor, 7 units of land, 2 units of capital, and 1 unit of entrepreneurial ability, selling at prices of $40, $60, $60, and $20, respectively. If the firm can sell these 400 loaves at $2 per unit, what is its total revenue? Its total cost? Its profit or loss? Will it continue to produce banana bread? If this firm's situation is typical for the other makers of banana bread, will resources flow toward or away from this bakery good?
You work for an unemployment agency that distributes unemployment checks to unemployed workers in your state.
What sort of shift in supply or demand would result in a market equilibrium with higher prices but lower sales volume? A shift inward in supply could lead to an equilibrium with higher prices but lower volumes. What might cause such a shift?
The Ben Bernanke has said that the Federal Reserve is going to continue its latest round of Quantitative Easing until unemployment falls to 6.5%. How fast will the economy have to grow to bring unemployment down to 6.5% by this ..
Why the price of computers dropped as their power and features has have increased?
Explain whether the evidence above suggests whether the dollar is appreciating or depreciating relative to the Euro. What is your conclusion? Explain how you come to that conclusion.
Compute the 10-year growth rate forecast using the constant growth model with annual compounding, and the constant growth model with continuous compounding for each occupation.
Illustrate the maxmium so and so would pay for insurance.
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Elucidate what are the best goals for the Fed. Should it lean toward restraint or toward expansion.
Assume after 10 years real consumer spending doubles to 100. Explain how much do you believe will be the budget share of leisure.
Assume labor is the only cost of production and labor coefficients (hours of labor required per unit of output) in MACONDO and KRYPTON for each good are as follows:
Illustrtae what is the current cost of a share of stock for a firm with $5 million in balance-sheet equity.
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