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How do legal restrictions on practice for nurses and physicians tend to affect the observed elasticity’s of substitution? Would elasticity tend to be higher if legal restrictions were removed? Would quality of care be affected?
An engineer deposits $1,350 each month in an account with an interest rate of 6.18% per year compounded semi annually. How much money can he expect after 12 years?
Two firms, Wickedly Efficient Widgets (WEW) and Wildly Nepotistic Widgets (WNW), produce widgets with the same production function y =K^(1/2) L^(1/2), where K is the input of capital and L is the input of labor
The costs of inflation include:
In the small town of Springfield, Duffman observes that the price of beer has fallen. Duffman concludes that the total amount of money spent buying beer has to fall since the price of beer is lower.
What is the output of each firm if they collude to produce the monopoly output. What profit does each firm earn with such collusion.
Compute the industry o/p also marketplace share at the present price of $2,200, assuming the prices are stable also un such as to change.
Let's use cloth and food, with inputs of labor andland, with cloth the labor intensive industry. If the relativeprice of food increases in the 2 good HO economy, what happens to the relative utilization of the labor in the production of food
Suppose that Kristen and Anna can sell all their wristbands for $1 each and all their pot holders for $5.50 each. If each of them worked 20 hours per week, how should they split their time between wristbands and pot holders? What is their maximum joi..
Assume that the world market for producing radios is monopolistically competitive. Suppose that the price of a typical radio is $25. Why is this market likely to be characterized by two-way trade? If you concluded that radios will continue to be prod..
If there are no fixed costs of production, in the long run, the perfectly-competitive firm will produce
The CEO of major automaker overheard one of division managers makes the following statement regarding the firm's production plans: "In order to maximize profits it is essential that we operate at the minimum point of our average total cost curve". If..
As per to the production possibilities curve above, what is the opportunity cost of adding an additional 100 jars of guava jelly in an economy that is already producing 200 jars of guava jelly.
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