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Assume a representative agent has a utility function involving consumption and labour supply of the form U=ln(C)-2L^2
(i) The agent is a ‘yeoman farmer', that produces their own output with a production function C=Y=AL^α, where Y is output per head. Derive the optimal level of labour supply, and comment on illustrate what it implies for the relationship between labour supply and productivity growth
With the help of an AD-AS diagram, explain the effect on the price level and real GDP. Use an upward sloping AS curve and be clear about the interconnections among markets.
Illustrate what is the objective of the article. Please note that the article has to be relevant to microeconomics and the topics covered in this class.
Tests are supervised by skilled mechanics utilizing equipment produced by two leading competitors in the auto test equipment company
Explain why do you think we have laws that prohibit discrimination in pay based on sex or race but permit employers to discriminate in pay based on education or experience.
Illustrate what shape do you think the marginal benefit curve is for carbon dioxide abatement.
In which direction would international investment flow in response to these real interest rates. Illustrate what impact would these investment flows have on the dollar exchange value.
Suppose that a less developed country known as LDC encourages direct foreign investment
Calculate the predicted change in tickets sold if the price were raised to $11. Also elucidate the expected change in total revenue.
Required to find out two products or businesses using cocoa in or for Cameroon and justify and report the marketplace
Dilomatic tensions over the war with Iraq also patriotic fervor led the state legislature in South Carolina to initiate a resolution boycotting French products.
How would you characterize the market for crude oil production? Explain your answer. Explain the long run profit behaviour of firms in this kind of industry.
Construct a table showing the marginal failure reduction (in units) and the dollar value of these reductions for each inspector hired.
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