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At 36 units of labor, a firm finds that both average product of labor and marginal product of labor equal 42. We can conclude that the average product curve at 36 units of labor is
a. upward-sloping.
b. downward--sloping.
c. vertical.
d. horizontal.
Which of the following is not an example of a process designed to combat moral hazard problems?
In turkey, many shopping mall owners charge different rental rates on their tenants. The shops of local and relatively unknown brands pay higher rental rates per square meter than the international and famous brand shops. Local shop owners protest th..
"Maximizing Revenue" Operating in a monopolistically competitive market structure and faces the following weekly demand and short-run cost functions:
Suppose firm sets an entry fee plus per-unit price for each consume. It can tailor entry fee and per-unit price to individual consumer. Illustrate what are best (profit-maximizing) entry fees and per-unit prices for it to set. Illustrate what is t..
Consider a free market with demand equal to Q= 1000 – P and supply equal to Q = 20P. What is the equilibrium price and quantity?
Assume the sale of human organs is legalized and a free market develops. Furthermore, assume the market is in equilibrium. Trace through the price and output effects of the following: An increase in the incomes of potential buyers of human kidneys. A..
Do you think that the AUD will fall as low as US 65C by the end of 2016? Justify your answer. What advantages do you think Australia will have in such a scenario? If the market rate is US 65C then what action could the Reserve Bank of Australia take..
Here are four individuals telling you their stories of how they became unemployed. In a multi-paragraph essay, apply the theories of unemployment to explain the type of unemployment that each of these individuals is facing and explains which of these..
Compare and contrast the difference between dynamic (intertemporal) efficiency and static efficiency with respect to non-renewable resources. What are the efficiency conditions for each? What costs reflected in the inter-temporal analysis are not cap..
All of the following statements about banks in Zimbabwe in 2009 are true except-Political instability increased the risk of bank failures.
Budweiser (now owned by a Belgium based beer company called In Bev), Miller and Coors who together produce 85% of all beer consumed in the US, each spend well over$250 million a year on television advertising campaigns, promoting their beer brands. D..
From the profit maximization perspective, under which condition does it make sense to expand the level of output in the short-run?
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