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State the law of diminishing returns. Then explain why you agree or disagree with the following statements.
(a) If the marginal product of labor is decreasing, the average product of labor is decreasing. (b) If the marginal product of labor is increasing, the total product of labor is increasing at an increasing rate. (c) When the marginal product and the average product are equal the average product is at a maximum
Application of Nash Equilibrium and Game Theory with examples
The public tends to view trade deficits with alarm while macoreconomics claims that trade deficits can actually be usefull for the economy. Discuss the macroeconomists position on trade defilicts
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Human service interactions in terms of macro systems-communities and organizations. Empowerment is basically a process to assist people groups, families and communities, individuals, to use their strengths to overcome their challenges.
Do the estimated coefficients have the required signs to yield a-shaped AVC curve? Discuss the significance using the p-values.
Which of the following strategies are used by businesses to capture consumer surplus? Nash equilibria are stable because
Question based on Derive and compare demand curve, Derive Ambrose's demand function for peanuts. How does it compare with Johnny's demand curve for peanuts?
In article on the steel industry, The Wall Street Journal noted that as steel prices were falling, steelmakers were not cutting production
Evaluate the range of marginal revenues
Question based on Laffer Curve : Tax Rate and Tax Revenue, Do raising tax rates necessarily raise tax revenue? What factors affect how tax revenue changes when tax rates change?
Vulnerability Analysis
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