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In a table, calculate how many machine hours are required to meet the Q = 4800 production goal if L=300, L=400, L=500, L=600, L=700, L=800, L=900, and L=1000. Graph the isoquant that these calculations imply. Explain in very clear and complete terms why the isoquant has the shape that you observe.
As an employee of World Bank you've been asked to research the needs of a country with a particular economic concern.
Make a short paper which relates how specific material from economic course where we cover supply and demand, elasticity and etc.
Suppose the government is concerned that the going wage rate of $6 per hour for low skilled workers is too low.
Read the following text and answer the questions below: Discuss the limitations of this model as an explanation of the effects of government expenditure on GDP.
According to the neo-classical economic theory, the market is a natural, self-regulating system that tends automatically towards the full employment equilibrium of supply and demand.
Make a table and graph of Crusoe's production function. Find out the Marginal product of labor for Crusoe at different quantities of labor.
Discuss how each of the following developments would affect the supply of the money, the demand for money, and the interest rate. For each case, describe what happens in closed economy and in small open economy. Describe your answers with diagrams.
"If every employer hired its best qualified applicants for a job at every opportunity, the phenomenon of black poverty (as distinct from poverty) could be wiped out in ten years." Do you agree/disagree? Comment.
The annual demand for coffee by the U.S consumers is Q = 250 - 10P. Compute the lost consumer surplus?
Illustrate the economy's adjustment to its long run equilibrium only, as the formerly dislocated (and now retrained) labour force is finding employment in new industries.
What are some of the positive externalities of education? Why may higher education offer fewer positive externalities than primary or secondary education?
hat is your expected utility without insurance? Suppose you can buy insurance that will cover the medical expenses but not the foregone part of your salary. How much is an actuarially fair policy, and what is your expected utility if you buy it?
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