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Explain how the marginal product of labor and the marginal product of capital are used in decision-making. Take into account how productive each is per dollar spent and make up your own example of the balance between the two and how management can best maintain the balance and employee morale at the same time.
What is equilibrium price?What is the equilibrium quantity(Q)? Compute the consumer surplus a=384 b=296 c=0 d=112 e=-112 f= none of the above Compute the Consumer Surplus?
Assume government forced a minimum wage above what otherwise would be equilibrium wage rate for this segment of the labor market.
Which diagram should use to explain third degree price discrimination relating to sub-prime borrower discrimination?
Using the following information complete the cash flow budget for the months of January, February and March. Be sure to include GST in the rows provided. GST at the end of December 2006 was negative $2500.
Identify a person in an organization, or event(s) that should be given credit for the relatively low, stable rate of inflation we've had in the United States since the late 1980s?
Find out the firm's optimal quantity, price, and profit (1) by using the profit and the marginal profit equations and (2) by setting MR equal to MC. Also provide a graph of MR and MC.
What are the factors that affect pay differentials? How does each factor increase or decrease relative wages?
South Korea is one of the major beef importing countries. With no international trade, Korea's equilibrium price for beef was $10 million per kilo tonne and equilibrium quantity was 30 kilo tonne.
Distinguish between explicit & implicit costs, giving example of each and what are the explicit & implicit costs of attending college?? Why does the economist classify normal profit as a cost?
Describe the difference between a diminishing marginal product of labor and a negative marginal product of labor. Why would a profit-maximizing firm always choose to operate where the marginal product of labor is decreasing (but not negative)?
How does your decision to invest in a college degree add to your capital stock Show this on your projected production possibilities frontier for ten years from now compared to your production possibilities curve without a college degree
Suppose the bottle water industry is competitive. If a bottle of water supplied by the typical firm has an ATC of 20 cents and the market price if 30 cents.
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