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Let’s say you plan to retire 40 years from now, and you decide you could live on $40,000 per year if you retired today. If the inflation rate is 3% between now and your retirement date, how much money per year would you need to have saved?
how resource growth and improvements in technology can allow a nation to increase its production of government goods and services while also increasing its output of private goods and services
Suppose you are given the following Total Product Function: ,where Q=100K ^ 3/2 L ^ 4/2 M ^ 4/7 is total output or units produces; K, capital; L, labor; and M, materials.; that is, this is a input factor production function. Find the Average products..
In signalling games, it seems that the Cho Kreps refinement (intuitive criterion) is the go to refinement for eliminating bad sequential equilibrium. Divine equilibrium and perfect sequential equilibrium are also interesting refinements though. Are t..
The recent immigration of labor into the United States from Mexico has led to increased calls for new restrictions on this movement of labor (including greater enforcement of existing restrictions). What would be the costs and benefits to the United ..
You graduate from UAlbany and receive a job offer that includes a "retention" or "stay" bonus. At the end of 3 years the employer will pay you $50,000 to offset your tuition. a. What is the value of this assuming you use 3% to discount the future? b...
Consider two countries (Home and Foreign) that produce goods 1 (with labor and capital) and 2 (with labor and land) according to the production functions described in problems 2 and 3. Initially, both countries have the same supply of labor (100 unit..
The private marginal benefit for commodity X is given by 50-5 X , where X is the number of units consumed. The private marginal cost of producing X is constant at $10. For each unit of X produced, an external benefit of $5 is imposed on membe..
Which one of the following variables is most likely to increase as production effort is increased? Which one of the following variables is most likely to decline as production effort increases? The efficient price of a license fee is determined by th..
q1. explain carefully if all workers and jobs were indistinguishable there would be presently one wage rate pretentious
Explain carefully why it makes better sense to shut down rather than continue to operate or to continue to operate rather than shut down, as the case may be. How do fixed costs play a role in your analysis? What is the difference between shutting ..
Assume that the wholesale skim milk market is perfectly competitive. Suppose demand is described by P=5.10-0.80Q and supply is described by P=1.90+0.20Q. If there are no price controls, what would be the equilibrium quantity?
Predatory pricing is easy to prove in a court of law. An incumbent firm may experience a learning curve that allows it to produce at a lower cost than a potential entrant. A firm receives no individual benefit from strategies that raise the marginal ..
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