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Problem
1. Consider the factors of production that go into a fast-food restaurant. Give an example of land, labor, and capital.
2. Suppose an auto manufacturer has one factory in the United States and one in Mexico. The auto manufacturer produces the same number of cars and the same models in each factory but hires more workers in Mexico than in the United States. Give an explanation for the discrepancy in the amount of labor hired in each location.
Demand and Supply curves. The following relations explain demand and supply conditions in the wheat industry:
Which of these same four curves would shift as a result of the per-burger tax? Why? Show this in a new graph. Label the graph as precisely as possible.
Outline the outcome of the game and the strategies that each player pursued. You don't have to say whether you won or lost the game.
What is the equilibrium level of employment per year and the equilibrium wage rate in Badger Land
How does the amount of unemployment created by an increase in the minimum wage depend on the elasticity of labor demand do you think an increase in the minimum wage will have a greater unemployment effect in the fast-food industry or in the lawn-c..
Write down the budget constraint
Econ 111: Principles of Economics- Accelerated Treatment - Quiz 5. A monopolist is facing a linear demand curve of Q = 200 - 2P, and MC= AC = 20. What are the monopolist's profits at Q*? Show these max. profits on your graph
Refer to the hours worked regression model. Use log of hours worked as the regressand and find out if the resulting model suffers from heteroscedasticity.
MAT10706 QUANTITATIVE METHODS WITH ECONOMICS ASSIGNMENT. How much money should be in the superannuation account if she wants to earn $35,000 per year from the account after her retirement
5. Murdoch Corporation is considering investing in a project which requires an outlay of $10 million in cash at the start, but is expected to generate revenues of $3 million at the end of one year, $4 million at the end of two years, and $5 million a..
If marginal revenue exceeds marginal cost, a monopolist should increase output.
Suppose there are no other countries that demand or supply peanuts in this problem. Given the above information, find the market demand curve for peanuts if these three countries trade with one another. Given the above information, find the market su..
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