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You need to expand production, either in the US or in China. Currently, your average American workers produce 100 units per hour and Chinese workers produce only 16 units per hour. But your American workers will cost you $20 per hour and your Chinese workers cost you $3 per hour. a.Graph as much this information as possible as isocost and isoquant information. b.Where should you expand production? c.Looking ahead into the near future, you forecast that your American workers will cost you $25 per hour, but demand for labor in China will drive up costs per worker there to $5 per hour. How does this alter the isocost and isoquant graph? d.Given these forecasts, where should you expand production?
Explain how will the bank respond to the withdrawal. Suppose that the bank responds to insufficient reserves by reducing the amount of deposits it holds until its level of reserves satisfies its required reserve ratio.
Illustrate what does this suggest about demand elasticity for drugs. Could it be that this experiment didn't actually measure elasticity very well and that elasticity is quite large.
explain how and why a monopolist would try to price-discriminate: Providing air travel for business people and tourists; A fast-food restaurant that serves business people and retired people
what would the largest cardholder fee that Tuan will pay. If the rental store has a constant marginal cost of $2, which strategy is more profitable?
Illustrate what is the producer's profit-maximizing(loss-minimizing) output level. Illustrate what are the firm's economic profits.
Why might a parent company like McDonalds or Hilton choose to franchise its local outlets rather than own them also staff them with employees.
Compute the stock's current yield, capital-gains yield, and the return. Show your work for three separate calculations.
Illustrate what is the equilibrium to this game.
Suppose that if you get contract, you estimate that you can win another project for two more units. Now what is your break-even price for those two units.
The president of the United States announces in a press conference that he will fight the higher inflation rate with a new anti-inflation program. Predict what happen to interest rates if the public believes him.
If agricultural price subsidies have the effect of lowering resource costs for farmers, use a supply and demand graph to show the effects on the market for food. Illustrate what are the implications for American public health.
Are monopolies and oligopolies (firms demonstrating power) always bad for society?
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