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After Henry ford invented the assembly line for producing automobiles, other automobile companies copied his invention. The new technology rise the economies of scale in automobile producing. In the long run, how would it have changed the size of the typical automobile company?
Some commentators have argued that the failure of the “Super committee” is good thing for the economy? Do you agree?
A television station is planning the sale of promotional dvds. It can have dvds manufactured by one of two suppliers. Supplier A will charge the station a set up fees of $1200 plus $2 for each dvds;
The expected returns earned from investment in the stock of two companies, Company A and Company B, are shown in the following table. Use the table to complete parts (a) through (e) below.
Economics of Markets and Organizations
EconS 323 Problem Set 7'4, Questions on Hedonic Wage Theory and Employee Benefits, Risk and earnings, Teacher Quality and Compensating Wage Differentials
A price floor is set by the government to protect the producer of the good to which price floor has been attached. There're two possible outcomes for market in price floor setting.
How does the demand curve faced by a perfectly competitive firm differ from the market demand curve in a perfectly competitive market? Explain.
Employ the following information on hypothetical short-run production function to answer questions a-d. Compute the marginal and average variable product of each unit of labor input. Hint: plot your Units of labor and Units of Output vertically.
Mention five ways you are affected on a daily basis by government intervention in the market. For what reason might government be involved? Is that reason justified?
Consider a sharecropper whose contract calls for him to receive ¾ of the output produced in the farm on which he works. Suppose that the value of the marginal product of labor on the shared cropped land is given by 80-L. Where L stands for hours o..
Say half of the cost of producing wheat is rental cost of land (a fixed cost) and half is cost of labor and machines (a variable cost). If the average total cost of producing wheat is $8 and price of wheat is $6, what would advise the farmer to do..
Make a table showing Mankato's marginal cost of newsprint production. Find out the minimum price necessary for Mankato to supply one ton of newsprint?
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