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The marginal revenue product of labor is:a. how much labor can be purchased with the revenue from the sale of one more unit of the good.b. how much does the marginal revenue change when you add more labor.c. the same as the marginal revenue product of capital in equilibrium.d. determined by the wage rate.e. the contribution to total revenue made by the marginal laborer.
What are the effects of labor unions on wages and productivity? what are the Right-to-work laws in individual states?
What is the profit-maximizing price of carpets? What is the maximum amount of profit that the firm can earn selling carpets?
An inflation shock is a disturbance to the usual behavior of inflation that shifts the IA line. A supply shock is a change in the natural rate of output. Graph the long and short run effects of a positive inflation shock and a negative supply shoc..
Determine the effect of an raise in the quantity of money and find the difference between real variables and nominal variables? Are these variables affected through the quantity of money?
Advertising can inform buyers, but sellers must incur costs to advertise. If so, advertising can result in higher prices to consumers. Does this mean advertising is economically inefficient If not, explain how it can simultaneously create value an..
Describe the revenue, costs, and profit that Starbucks expected when it entered this market.
Find the expected value of X. Show your work and find the variance of X. Show your work and calculate the cumulative distribution function
The company selling the good x starts an advertisement campagin that has the following effect on the consumer he makes decisions as if maximizing a decision utility function.
Use a graphical illustration to describe briefly what the influence an increase in immigration on the market supply of labor
Neolithic Revolution
Walmart is vilified by many people as being evil, destroying jobs and cities. Others note that it has the lowest prices and is the largest employer in the country. What is the difference? Is Walmart a monopsonist? Demonstrate how a minimum wag..
The point M on the accompanying production possibilities curve depicts the mix of output that is determined by the free market. In your opinion as an economist, where is the socially optimal mix of output Mark this on the PPC as point S
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