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Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person’s status as Employed, Unemployed, “Not in the labor force” if not in the civilian labor force but still part of the adult population, or “Not in the adult population” if not in the civilian adult population: <br/> <br/>Hubert is a 72-year-old professor. He teaches only one or two courses a year, but he''s still pursuing an active research agenda.
the area of agricultural land available in a country is fixed due to geographical characteristics of the country and
Suppose Gillette makes razors and blades. The marginal cost of producing blades is 1 and assume the marginal cost of producing razors is 5. Gillete has a monopoly in the razor market, but the blade market is competitive.There are two types of cons..
If the wage rate is $30 per hour and the rental rate on Capital is $10 per hour, what is the cost-minimizing input mix for producing 4 units of output?
You are a manager of Kleenex and you compete directly with Puffs selling facial tissues in America. Consumers find the two products to be indistinguishable. The inverse market demand for facial tissues is P = 3-Q (in dollars) in America.
Compute the economic profit of the firm if Sales-10000,material cost-3000,labour cost-2000, Administration cost-1000.
Explain why is an increase in the number of varieties of a good regarded as a gain from trade. Can you think of economic disadvantages associated with greater product variety.
create an original response to the open-ended db question as well as engage in dialogue by responding to posts created
How will high entry barriers into a market influence (a) the long-run profitability of the firms (b) the cost efficiency of the firms in the industry (c) the likelihood that some inefficient high-cost firms will survive
the affordable care act signed into law on march 23 2010 requires individuals to be enrolled in a health insurance plan
A sample of 500 business professionals found that 30% chose an airline based on price. a) If the population proportion of all business professionals who select an airline based on price is 0.27, then what is the probability that we would find a s..
The New York Times (Nov. 30, 1993) reported that "the inability of OPEC to agree last week to cut production has sent the oil market into turmoil[leading to] the lowest price for domestic crude oil since June 1990." a. Why were the members of OPEC..
The costs of a purely competitive firm and a monopoly could be different because the competitive firm is unregulated. the monopoly controls the input prices. the monopoly might experience economies of scale not available to the competitive firm.
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