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1. Consider Figure 9.3. In which periods of U.S. history was output growth in agriculture the highest? In which periods of U.S. history was labor productivity growth in agriculture the highest? Recall that labor productivity growth is approximately equal to − . Are these generally the same periods? What factors can account for the differences between output growth rates ( ) and labor productivity growth rates ( − ) at different time periods in U.S. history? Explain.
2. Suppose that the demand curve in a competitive market is described by the following equation: = 20 − where is the quantity demanded for the good or service and P is the price.
A. If the price is currently $15, then what is the price elasticity of demand? Is this elastic, inelastic, or unit elastic? Show your work.
B. Suppose that there is a technological innovation in the production of this good or service that leads to a fall in the price of the good from $15 to $12. What specifically will happen to the total revenue available to the producers of this product due to this decrease in price? Numerically show and explain.
q.consider a mutual fund with 720 million in assets at the start of the year and with 10 million shares outstanding.
Cute Camel Company is a small firm and several of its managers are worried about how soon the firm will be able to recover its initial investment from Project Delta's expected future cash flows. How much value does the discounted payback period metho..
What causes movement along AD curve? What causes a shift in the AD curve? What are the factors that affect consumer spending ( C)? What are the factors that affect changes in Investment spending (I)?
The economy's factors of production are not equally suitable for producing different types of goods. This principle generates:
Critically evaluate and explain: in monopolistically competitive industries, economic profits are competed away in the long run; hence, there is no valid reason to criticize the performance and efficiency of such industries.
According to the traditional view, in what direction is the slope of the production function, with capital per worker on the horizontal axis and output per worker on the vertical axis?
q.governments often complain about one anothers macroeconomic policies. this question asks you to analyze one example.a
Agriculture and Agri-Food Canada implemented a farm savings plan called AgriInvest that would help farmers navigate shallow losses (differences between revenues and expenses that are not extreme). What is the rate of return (on the first 22,500 contr..
A firm has $1,700,000 in sales, a Lerner index of 0.56, and a marginal cost of $50, and competes against 800 other firms in its relevant market. Instruction: Round your answers to 2 decimal places. a. What price does this firm charge its customers?
Why are savings and investment so important for economic growth? How do savings and investment affect present and future consumption? Explain. How does the Production Possibly Curve behavior when the economy is growing and when the economy is sinking..
Assume that the market for wheat is perfect competitive, with demand curve P = 5000 ? 0.01QD and a supply curve P = 1+0.1QS. Each identical wheat producer has a total cost curve given by TC = 1+Q+Q2 , which results in marginal cost of MC = 1+2Q. What..
Elicidate the Consumption and Government Spending equal to what. Would you expect to find out a few relatively large firms or many relatively small company.
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