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Explain how a firm values the contribution of workers to its profitability.
Would a profit-maximizing competitive firm ever stop increasing employment as long as marginal product is rising?
Intermediate Microeconomics - Budget Constraint: Draw Alan's budget constraint with such promotional campaign.
New York City's banking community served many of the functions of a central bank during large parts of the “displaced 19th century”
What does the market for sugary sodas look like? Provide a supply-demand graph with realistic prices.
Consider a firm with total short-run cost function C=a+b.Q. New legislation means that it should pay an environmental tax which is the fixed sum, independent of whether it produces any output.
You have been hired as a consultant by your mayor to evaluate the increase in aggregate demand in the city where you live. Describe to the mayor one (1) aggregate demand and supply factor that would have the greatest impact on the economy of your ..
Briefly describe three factors that could shift the aggregate supply curve of the economy to the right. Briefly explain the difference between the deficit of the Federal government and the National debt of the United States.
What are the advantages and disadvantages of the oligopolistic structure? How would an increase in a monopolist's fixed costs affect its profit-maximizing choice of price and quantity?
How does competition affect profits and prices? What causes some firms to enter an industry, and others to leave it?
Industry structure is often measured through calculating the Four-Firm Concentration Ratio. Assume you've an industry with 20 firms and the CR is 30%. How would you describe this industry?
Discuss and explain wage determination in a labor market in which workers are unorganized and many companies actively compete for the services of labor.
Define asymmetric information. Distinquish between hidden characteristics and hidden actions. Which type of asymmetric information contributes to the principal agent problem?
Compute the average product of grain when each amount is used. Determine the marginal product of grain when between 1,200 and 1,800 pounds are fed, when between 1,800 and 2,400 pounds are fed, and when between 2,400 and 3,000 pounds are fed.
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