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If GDP is rising by 3 percent per year how long will it take GDP to double? Given the same conditions how long will it take Per Capita GDP to double if the population grows at 2 percent?
Consider the problem of maximizing the profit function (pi)= pY -wL subject to the production function Y= L to the alpha (as the exponent) where alpha E (epsilon) (0,1).
Ageless Corporation has a patent for a new promising age defying moisturizer cream. The yearly demand, marginal revenue, and marginal cost functions for this cream is given:
In the United States real estate brokerage industry, brokers employed by large brokerage companies have traditionally worked for a portion of the commissions they generate.
You're the GM of firm that manufactures PC's. Demand for them has dropped 50%, thanks to soft economy. The sales manager has identified only one potential client, who has received many quotes for 10000 new PC's.
What incentives does a capitates physician have to keep his patients happy? What incentive does an FFS physician have?
You decided to open a restaurant, named FunMeal. FunMeal is a fast food restaurant with a very limited menu. What is FunMeals elasticity of demand? Is demand elasticity, inelastic, or neither?
Based on the Solow model, how would each of the following affect consumption per employee in the long run? Describe and illustrate your answer graphically.
Why does rent control result in a shortage of rental units.
You're the manager of monopolistically competitive firm. The present demand curve you face is P=100-4Q. Your cost function is C(Q)=50+8.5Q2 (That's Q squared).
Please help describe profit maximizing decision of pure monopolist firm and compare it to the profit maximizing decision of the firm in a purely competitive market and a monopolist firm in the competitive market.
The Wall Street Journal article reported that large hotel chains, such as Marriott, are tending to decrease the number of hotels that they franchise to outside owners and raise number the chain owns and manages itself.
Provide specific example of how you used the marginal decision making principle to choose between two alternatives.
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