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1. What is the law of diminishing marginal productivity? How does it differ from average productivity?
2. What is derived demand? What is the relationship between the productivity of an employee and his or her wages?
Use arc-approximation formula to compute the price-elasticity of demand coefficient of the firm's product demand between the (quantity, price) points of (100, $20) and (300, $10).
Assume there are two services offered in economy: dance clubs and college education. Both require the use of limited resources, but not all of the resources used in each one can be readily transferred to the other.
Describe the market equilibrating process and compare the demand for food with demand for Starbuck's coffee. Include academic research to support your ideas.
To maintain utility constant an income adjustment brought the student to consume the basket (61,92). What are substitution effects and the income ?
The market is created by demand and supply of products in the economy. Describe the law of demand. Explain a situation in your life where you noticed this law at work.
A small town is served by many competing supermarkets, which have constant marginal cost. Using the diagram of market for groceries, show the consumer surplus, producer surplus, and total surplus.
What incentives does a capitates physician have to keep his patients happy? What incentive does an FFS physician have?
Calculate the elasticity of demand and elasticity of supply at each price change in the market for financial calculators
Ajax, Inc. has appointed you to examine the demand for its line of telecommunications devices in 35 different market areas.
Why does rent control result in a shortage of rental units.
If a representative firm with total cost given by TC = 20 + 20q + 5q2 operates in a competitive industry where the short-run market demand and supply curves are given by QD = 1,400 - 40P and QS = -400 + 20P, the number of firms operating in the sh..
Describe an example of risk calculation found on the web and what risk calculation technique is illustrated by your example? Would you have employed a different risk assessment technique than used in your example, and why?
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