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Describe the historical and institutional developments of the major US economic security programs since the early 20th century and identify the major attempts to reform the system throughout the period.
Suppose that you leave a job that pays $40,000/year and use $10,000 of your savings that had been earning $500/year in interest in order to start your own business. In your business, you sell 450 units at $60/unit while paying $12,000 for capital cos..
By using calculus show that the production function exhibits diminishing returns to labor.
Assume that the resource and output markets are both competitive, and that it is possible to hire fractional units of the resource. Explain how many units of the resource will a profit-maximizing firm hire.
A consulting company estimated market demand and supply in a perfectly competitive industry and obtained the following results.
Which of the following practices would indicate that an employer is trying to overcome a principal-agent problem with his employees?
The length of a Colorado brook trout is normally distributed. Illustrate what is the probability that a brook trout's length exceeds the mean.
Which segment of the population is one of the wealthiest in the U.S.?
What are episode-based payments (EBPs) and how do they differ from traditional FFS payments. What is the economic intent behind EBPs? Explain how EBPs relate to the idea of supply-side cost sharing?
What are potential reasons for income inequality across the economy. In some of our efforts to improve income inequality can we negatively impact productivity?
Elucidate what should Paul, the Director of Human Resources, do to determine how Plastec (a company that manufactures plastic) compares with other area employers in terms of wages and benefits.
Over what range of wealth is this function potentially appropriate to analyze your financial choices under risk? Over this range of wealth, what is your attitude toward risk? What is your Arrow-Pratt measure of risk attitude?
Explain why quality became the most important issue facing American business in the 1980s. In addition to economic competition from Japan, what other factors may have contributed to the importance that quality has assumed?
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