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Suppose the level of technology is constant. Then it jumps to a new, higher constant level.
a. How does this technological jump affect output per capita/person, holding the capital-labor ratio constant?
b. Show the new steady-state equilibrium. What has happened to per capita saving and the capital-labor ratio? What happens to output per capita?
c. Chart the time path of the adjustment to the new steady state. Does the investment ratio rise during transition? If so, is this effect temporary?
Explain why do cattle ranchers slaughtering a large number of newborn calves and burying them in mass graves rather than transporting them to markets.
Deficient as the sole mechanism for determining the optimal level of resource employment.
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Explain WHY profits are maximized or losses minimized at the level of output where marginal revenue equals marginal cost.
q.fuji konica agfa and 3m. from a technical viewpoint there was little difference in the quality of color film produced
A purely competitive wheat farmer can sell any wheat he grows for $10 per bushel. His five acres of land Elucidate how.
Each of the five nations that have been asked to bid for the broadcast rights for the London 2016 Games. Prepare to negotiate prices and other organizational details.
How long will this discount change the consumer surplus and producer surplus? Will Big Top be more efficient by offering the discount to children?
Why doesn't the U.S. simply restrict all goods coming in from China? Why can't the U.S. just minimize the amount of imports coming in from all other countries?
Suppose that, in order to finance a government- sponsored health plan, the government needs to increase spending by 10%. The government plans to finance the higher spending with an increase in taxes. As a consequence of this government policy, the ag..
What is the unemployment rate among the 500 surveyed people? Consider the following price information: Year 1 Year 2 Cup of coffee $ .50 $1.00 Glass of milk $1.00 $2.00
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