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1. If a firm minimizes long run cost, what condition or conditions must be met?
2. What happens to isocost line if the price of one input increases and the price of other input stays the same?
Discuss two factors that would increase demand for labor - If the market price of the good or service that a firm produces increases, what happen to the demand of labor? Explain.
Evaluate the role and the effectiveness of the Federal Reserve in stabilizing the current economy. Determine which economic indicators the Federal Reserve should analyze so it can better stabilize this particular economy.
Trade occurs because of differences in the availability of factor inputs across countries and differences in the proportions of those factor inputs used inproducing different products.
Illustrtae what are the nominal rates of interest for both the United States and the euro area?
The subsiquent table provides how the number of security guards affects the number of guards affects the number of radios stolen per week.
What is the primary and general objective of central banks?
Suppose that the government raises the minimum wage and in doing so causes real wages to increase throughout the economy. What would be the effect on the micro economy in relation to the quantity demanded of labor and the quantity supplied of lab..
You invest R2400 annually (at the end of each year) for successive years in a savings account at 15% p.a. (interest is compounded per year). At the end of the fifth year you withdraw R6181.72 and the balance is invested at 10% p.a. for 5 years. What ..
1) The initial conditions in the money market are as follows:
Gross Domestic Product (GDP) is the broadest measure of output for an economy. However, GDP does not perfectly measure well-being of a nation and its citizens' welfare. Discuss what GDP is and what it measures? Discuss what the shortcomings (li..
individual assignment - pestel.your mission is to identify the major factors influencing world affairs by performing a
Do you think diminishing marginal utility is a necessary condition to get diminishing MRS? Use your answers for (a), (d), and (e) to justify your answer.
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