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Suppose you can hire your mechanic for up to six hours. The total benefit and total cost functions are B(H)= 400√H and C(H) = 100H. The corresponding formulas for marginal benefit and marginal cost are MB= 200/√H and MC(H) = 100. What is your best choice?
At what output and price will the firm maximize total revenue?
What is the practice of negotiating labor contracts that keep unnecessary workers on a company's payroll.
When there is deflation, as in inflation of -1%, the real interest rate that Herb pays (as compared to what he expected to pay): increases, so Herb feels poorer decreases, so Herb feels richer increases, so Herb feels richer decreases, so Herb fee..
Explain why it is, in recent years, that the Chinese economy has become better at creating jobs - Who will benefit from growth focussed more on consumption?
suppose a business experiences a sudden increase in its fixed costs. for example suppose property taxes increase
What are the advantages and disadvantages for both employers and employees of resolving disputes through ADR? Why would a company have an employee sign a commitment to resolve disputes through ADR? What other methods exist for resolving disputes?
Explain how do you examine the higher demand has affected the equilibrium wage. In which direction do you think the labor supply and demand shifted.
In the limit pricing payoff matrix, Coa can choose a given row of outcomes by offering a limit price or monopoly price. Choose a given column of outcomes by choosing to offer a limit price or monopoly price.
1. A production function can exhibit increasing, constant or decreasing returns to scale. Describe the meaning of this statement using a simple production function Y = F (K, L), where K is capital and L is labor. Why might it exhibit increasing o..
the government needs to reduce smoking by 20%, by how much should it increase the price.
Suppose that the price of the product is $5. How many units will the firm produce in the short run? In the long run, will the price rise or fall from the current level at $5? Explain the reason
Why are competitive markets considered more efficient than monopolistic markets? Give economic reasons. Give a real-life example of a market that tends to be competitive and one that tends to be monopolistic.
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