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Suppose that in a year an American worker can produce 100 shirts or 20 computers and a Chinese worker can produce 100 shirts or 10 computers. Who has the comparative advantage in the production of shirts? What about for computers?
Suppose a wage increase from $11 to $13 an hour increases the number of job applicants from 42 to 56. What is the price elasticity of labor supply?
Why do celebrity icons receive such widespread attention and adulation
The following graph shows the market for loanable funds in a closed economy. The upward-sloping orange line represents the supply of loanable funds, and the downward-sloping blue line represents the demand for loanable funds.
q.assume that in 1998 the following prevails in the republic of nurd y200 g0 c160 t0 s40 iplanned30assume that
Matt was the agency manager at Bobs Insurance's Los Angeles office. He was employed as an at-will employee, and his contract did not specify any fixed duration of guaranteed employment.
John Livingston is looking into the possibility of buying several coin-operated vending machines also placing them in the local hospitals.
A Japanese carmaker plans to expand its production in the United States. The company borrowed $170 million for this expansion at an interest rate of 8% per year. The loan will be repaid in equal payments at the end of each year over a 15-year period...
q1. illustrate which country has the most fundamentally sound monetary policy?q2. insurance agents receive a commission
A firm has two production processes with the following marginal cost curves:
Conclude how fixed and variable costs should be adjusted to maximize profit and identify methods to reduce costs.
Suppose that there is no fixed production input (i.e. long run.) With the production function above, the slope of the isoquant is given by MRTS = -(K/2L). Assume the firm chooses to hold costs C at $50.
Illustrate what mistakes did policymakers make that have kept developing nations from growing more quickly.
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