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BigBiz, a local monopsonist, currently hires 50 workers and pays them $6 per hour. To attract an additional worker to its labor force, BigBiz would have to raise the wage rate to $6.25 per hour. What is BigBiz's marginal factor cost?
Which of the subsequent companies has recently been used by the federal government for monopoly practices
Explain is it irrational for an individual to take the time to be completely rational in economic decision making.
How vegetarians sometimes have trouble making sure they get enough protein in their diets.
A bakery would be willing to supply 500 bagels per day at a price of $0.50 each. At a price of $0.80, the bakery would be willing to supply 1,100 bagels. Using the midpoint method, the price elasticity of supply for bagels.
We are all familiar with fluctuating prices of gasoline at the pump. Explain why does this happen.
Is the price mechanism of a perfectly competitive market a good mechanism to allocate gasoline.
Co9mpute the percentage change in the Shares of Household Income of Quintiles between 1968 and 2008. Notice the dates are in reverse chronological order. Why do you think it has changed in the manner it has.
Describe the point at which diminishing returns occurs. indicate the points that delineate the 3 stages of production.
If typographical errors occur andomly, about how many pagesin book have three typographical errors. What is the median number of typographical errors per page.
Describe how each of these activities affects government, households, and businesses. Describe the flow of resources from one entity to another for each activity.
disposable personal income decrseases by$15 billion and the trade deficit is reduced by $5 billion. Explain by how much have investment, consumption and national income changed.
Be able to examine critically the health of the economy as a whole through the analysis of major economic variables and advise on likely policy alternatives
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