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Factor shares
For a neoclassical production function, show that each factor of production earns its marginal product. Show that if owners of capital save all their income and workers consume all their income, the economy reaches the golden rule of capital accumulation. Explain the results.
The elasticity of demand for domestic heating oil is -o.5, and for gasoline is -1.5. The price of both sorts of fuel is 6oc/ per litre: included in this price is an excise tax of 48c/ per litre. The government wants to reduce energy consumption..
Amy's card shop receives a shipment of valentine's day card in December 2013. Amy pays the wholesales distributor of the card a total of $500. In February 2014 she sells the cards for a total of $ 700. What are the contributions of these transactions..
Determine the firm's profit function and the level of output at which Firm Perfcomp should produce in order to maximize profits. Confirm that this quantity represents maximum profits for the firm by using the second-order condition.
How does applying econometrics to economics validate economic decisions for an organization? Support your response with an example. Please provide a reference.
The long-run aggregate supply curve is vertical at economy's potential output level. Why is the long-run aggregate supply curve situated at his level of output rather than below or above the potential output level?
Researchers measured the number of neurons in the CA1 region of the hippocampus in the brains of eight persons who had died of causes unrelated to brain function. They found that these data were negatively correlated with age. The sample value of ..
Give at least three reasons and examples when addressing this question, using your text, the Online Library, and the Internet as resources. Identify an event that would shift the AD curve and which direction the AD curve will shift.
Workers who demand a wage that is equal to the equilibrium wage: Workers with a particular skill are represented by: Workers who demand a wage that is equal to the equilibrium wage:
suppose that the reserve requirement is 10 percent and the balance sheet of the peoples national bank looks like the
An individual who is employed part time, but is looking for a full-time job, is classified as:?
1. What shape did the short-run aggregate supply curve have during the 1930s, according to Keynes? Explain
What are the net income losses for this two-day period if the airline refuses the90-seat charter, stays in business, but temporarily shuts down? What are the netincome losses if it decides to operate and fly the charter that has been proposed?
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