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Suppose that the marginal product of labor is: MP=100-L, L is the number of workers hired. You can sell the product in the marketplace for $50 per unit, the wage rate for labor is $100. How many workers should I hire?
Illustrate If G rises to 200 and T rises to 150. How much would the GDP change as a result.
Assume that raising the marginal income tax rate raises $200B which could be spent on infrastructure projects. Explain how would we measure the cost of the project to determine whether it is worth undertaking.
Under very high rates of inflation, why would people prefer to use a barter system to buy goods, rather than use paper money.
Define absolute and comparative advantage in your own words. Elucidate how absolute and comparative advantage were used in your simulation.
Disposable personal income equals personal income and two factors are the keys to determining labour productivity
Elucidate how Levitt devised a means of examining student test scores to uncover evidence of cheating teachers. Explain also why Levitt's analysis of the data constituted evidence, but not proof, of cheating.
Each firm can monitor the other's price very closely and can respond instantly
To assess the impact of those mergers,on industry on consumers and on society as a whole.
She is now considering raising her prices by 20 percent to offset the increase in her monthly rent.
What will happen to the price of the computer in Yuan. Illustrate what will be the effect on Dell's cost of production.
movements along the consumption function while changes in wealth lead to a shift of the consumption function.
The purpose of this assignment is to become familiar with the terms import and export, and then describe advantages or disadvantages of buying imports versus buying domestic products in relation to the fashion industry.
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