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The following figures refer to a firm production department during a certain week. Estimate TVC and AVC.
No. of workers employed 50
No. of units produced 100
Weekly wage of each worker 200
Weekly rent of shed 400
Raw material used 1600
Power 300
Explain how does that rate compare with the rate in the previous month. What were the unemployment rates for adult men, adult women, teenagers, blacks, Hispanics, and whites.
Suppose that you bought an asset that pays 6% nominal interest rate, you expect that inflation rate to be 1%, and the actual inflation is 4%. Calculate the expected real interest rate and the actual real interest rate.
Greta starts an internet-based grocery delivery service. His employees must perform one of three activities: Administrative work: Exactly 2 workers are necessary to perform the administrative work for the business to operate. The administrative wo..
Suppose that the demand function is given by x=P^-n, and the supply function by y= p^e. Determine the equilibrium price. Determine the effect on the equilibrium price of the introduction of a tax t=0.1
Steel is labor intensive and rice is land intensive. According to the long run Heckscher-Ohlin model what happens when these two countries move frome no trade to free trade? Wages in France's rice industry? Wages in France's steel industry? The pr..
Find a market price for hydrogen gas and normalize the energy content compared to the current local price of gasoline. Using octane as an approximation for gasoline energy content, compare the cost per kilojoule of energy of hydrogen to gasoline
Assume banks install ATM on every block and, through making cash readily available, decrease the value of money people want to hold.
Your usage of paint drops from 35 gallons a month to 20 gallons a month. Perform the following: 1. Compute the price elasticity of demand for paint and show calculations. Decide whether the demand for paint is elastic, unitary elastic, or inelasti..
If price discrimination is feasible, which of these pricing approaches would you consider using market segmentation by location or time, two-part tariffs, limit pricing, penetration pricing.
What are some of the issues economists study, and why is economics often called "the science of choice"? What are the foci of inquiry in microeconomics and macroeconomics respectively?
Describe what happens to price of a bond that pays a fixed percent of the face value every year when interest rates in the economy rise.
The Millennium Development Goals aims were to be achieved by 2015. A few will be met; many others will not. In either case despite great progress, poverty will remain a serious ongoing concern.
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