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The labor supply curve for very gifted, unique people
The labor supply curve for very gifted, unique people is quite inelastic. Why do you think the labor supply curve for very gifted or unique people is quite inelastic?
Obtain the market clearing price and quantity. Under the assumption of profit and maximization , how much output should the representative firm produce?
Suppose the company wants to set its price equal to full cost plus 30 percent. To determine cost, the company must estimate the number of units it will produce and sell in a year.
Calculate the price elasticity of demand for the product below using average values for the prices and quantities in your formula.
Find the optimal level of inputs L* and K* that minimize the cost of producing Q0. What is the cost of production associated to L* and K*?
True/False: For each of the following concepts, decide whether it's true or false, and briefly explain why (2-3 sentences). You can also use diagrams if they are helpful. Each correct answer is worth.
Elucidate how have these policies affected the prices of the product the industry produces?
how percapita income fiscal policy laws local economies and census data affect the ability to fund governmental functions.
Explain how the locations of each of the four curves graphed in question 7b would be altered if (1) total fixed cost had been $100 rather than $60, and (2) total variable cost had been $10 less at each level of output.
Compute the path of the economy, that is , calculate real GDP, the price level, the inflation rate and real money stock for each year until GDP I swithin 1% of the potential. (limit calculated values to 10 decimals points)
Consider the following two good pure exchange economy: Alfred's utility function is U A (x, y) = min{x, y} and Bob's utility function is U B (x, y) = max{x, y}.
Application of Nash Equilibrium and Game Theory with examples
What are the advantages of Fed increasing interest rates if the GDP gap is positive?
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