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Q1. How much deadweight loss does Great Reception causes when it restricts output and charges a price above marginal cost?
Q2. Firm XYZ measured its MP of labor curve to be the following: MP = 4000 -2L where L is the number of hours of labor hired per day. XYZ produces gadgets that are sold for $20 each and is able to hire workers for $10 per hour. How many hours of labor should XYZ hire each day to maximize its profits?
In an effort to provide tax relief for households while still balancing the budget, Congress votes to raise business taxes and decrease personal taxes.
What combination of T and M will you choose? Suppose that the price of day trip rises to $80. How will this change your decision making?
A business cycle fact is that real wages are pro-cyclical. Using the classical labour market as we have all semester, show and explain how the classical economists explained this business cycle fact.
Discover the payout ratio rounded to the nearest whole percent, and explicate what a payout ratio means.
To build trust among virtual team members, managers should Deep-six the egos
Calculate real GDP in each year, and the percentage increase in real GDP from year 1 to year 2 using year 1 as the base year. Next, do the same calculations using the chain-weighting method.
Find the equilibrium values of the real interest rate, consumption, investment, and the price level.
James earned $10,000 in income in his new job in Nova Scotia after the move and his employer paid him $1,000 specifically to cover the cost of the move, but doesn't specify what it can be used for.
For a typical firm producing 100 units of output, short-run marginal cost is constant at $65, average total cost is $95, and average fixed cost is $30.
Store maximizes profits and the price elasticity of demand for milk is -2 for coupon users, what is the price elasticity of demand for non-users.
Consider that, in this case, we 1st add (marginal) costs, not quantities, since these are the costs associated with each t-shirt.
Graph Mary's marginal cost curve using the orange line and her marginal revenue curve using the blue line
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