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Walmart is laying off cashiers, and increasingly adopting the policy where customers must use self checkout or pay a fee. Jason Clarke is the manager of a Walmart. There are 20 cashiers and 8 self-checkout stations in this store to serve 1000 customers every hour. if the MRTS at this point is 0.2 (capital is on the vertical axis of isoquant map) the Jason would be willing to lay off ________ cashiers for one more self checkout station in order to maintain current service.
Demand Pull Inflation: Suppose that the central bank wants to increase output, but the economy is already at the natural rate. Show the short and long run effects of a monetary expansion in this situation in the AD/AS model. You can omit the labor ma..
q.marys fence post factory faces a perfectly elastic demand curve for fence posts at a price of 39 per post. let q
If over speeding by 10 mph results in the probability of dying in one hour to be 1 in 400,000, use the Jones-Lee approach to estimate Junior’s value for his life if he makes $90 per hour. What if the probability of dying is 1 in 5,000,000?
1.the production possibilities curves above show all the possible combinations of helicopters and scooters that two
In your opinion, are you better off saving money or spending money? Why? Please explain? Then take the question from a more macroeconomic perspective...does your spending or saving make the economy as a whole better off (and thus indirectly you)? How..
Summarize the arguments as to why we should not worry about the very large size of recent and current Federal deficits and our National debt. Deficits naturally occur with business cycles. Deficits can be used to lower unemployment now. Deficits spen..
Illustrate what an identification and discussion of economic issues of special concern at the present time or in the future.
Social Responsibility: To include intercultural competence, knowledge of civic responsibility, and the ability to engage effectively in regional, national, and global communities. Why is active economic citizenship particularly important for a succes..
The special cost structure that is necessary for a firm to adopt a peak-load pricing policy is:
Assume a company has $200 in fixed costs, marginal costs are $10, and the company produces 100 units per year. How low can the price go before it is preferred to shut down? Answer the question for the short run and for the long run
The electric power industry is held up in the article as an example of a natural monopoly. Brainstorm other examples that can be readily identified in the present market economy.
which planet has the comparative advantage in coffee? in fried chicken?
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