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Q1. Why does a profit-maximizing firm hire workers up to the point where the wage equals the value of marginal product? Show that this condition is identical to the one that requires a profit-maximizing firm to produce the level of output where the price of the output equals the marginal cost of production.
Q2. A physician's office expenses increase 10 percent so she decides to raise the price of office visits by that much. Assuming the demand curve for office visits does not shift, what will happen to the total number of office visits and practice revenues?
The constant rate no before the one child policy; after the introduction population growth drops to the constant rate n1 analyze the effect of this policy.
In long run, what would you expect to happen to the price of steelin U.S. and Germany. What would be the price differential.
Suppose that on January 1, the price of one hundred yen was $0.80 and PPP held. Over the year, the Japanese inflation rate was 5 percent and the U.S. inflation rate was 10 percent.
he perfectly competitive form maximizes profits by producing 10 units of output. At what price does it sell these units.
It comes to global expansion and setting up affiliates aboard, how is a service company's focus different from that of a manufacturing company
Disposable personal income equals personal income and two factors are the keys to determining labour productivity
China has continued to lag well behind the rest of the world in information technologies
Explain how it will affect the number of employees you schedule. All other things being equal, what will happen to prices of the Galaxy and the iPhone.
Does Ike feel emotionally neutral since the dollar value of the gain in his stock portfolio exactly offsets the amount of extra taxes he has to pay
Suppose that the demand for healthcare services is perfectly inelastic while the supply curve is upward sloping. Analyze the impact.
Russian farmers, again, have a poor crop. Their government has announced that they will not ban exports. Discuss the impact on domestic and world prices, consumers and producers the effects of the Russian government's decision.
Based on some economists' definition of the relevant market, the two firms proposing to merge enjoyed a combined market share of about two-thirds, while another firm essentially controlled the remaining share of the market.
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