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A technology is invented that makes labor and capital perfect one to one substitutes in the production of Mint Chocolate Chip super High fat Ice-cream. Draw an isoquant map for candy. Now, from your original drawing of the isoquant map, assume that the marginal product of labor suddenly falls relative to capital, but the inputs in candy production remain as perfect substitutes. How does that change your isoquant map? if the substation ratio is still one to one, and the price of labor(w) is greater than the price of capital(r), where might the cost-minimizing firm end up on its isoquant map?
Microsoft appears to have a monopoly with over 90 %of the personal computer operating market. Why then would it not be charging a monopoly price
assume that the total value of the following items is 780 billion in a specific year for upper mongoose net exports 50
Is it reasonable from an economist's viewpoint to minimize the role of the government in accordance with Nozick's moral argument.
Tucker's industrial engineers have informed management that hiring one additional worker will increase output by five units every hour
we want to take a random sample of four accounts in order to learn about the population. How many different random samples of four accounts are possible?
What would be its (cost-based) markup ratio? Now suppose the demand curve the firm faces is:Q = 3000 - 50 P. Is the firm going to achieve its profit goal? Explain.
If supply at every price is reduced by five gallons, what will the new equilibrium price be.
Who benefits from a tariff or quota. Who loses. Illustrate what are positives and negatives of protectionist trade policies on federal government's part. Which policy is best right now.
Can you detect any difficulties that the Federal Reserve System might encounter in implementing monetary policy.
Assume that the central bank of an economy contracts the money supply.
Why is a market economy susceptible to coordination failures that can lead to unemployment and inflation? What do you think can be done to rectify these failures?
Ann Page Corporation has fixed expenses of $30,000 per year. Variable expenses per unit are $17. Sales price per unit is $30.
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