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1. GivenEquilibriumPrice of A = $20Price of B = $80What is the Marginal Utility of product A divided by the Marginal Utility of product B?
2. Given: Total Revenue = $3000Quantity Sold = 50Quantity Produced = 75What was the price?
3. Given: At $20 a hat 100 hats were sold.At $21 a hat 95 hats were sold.What is the elasticity of demand (using midpoint formula)?
4. Given: Total Cost = $1000Average Variable Cost = $10Quantity Produced = 50What is the Total Fixed Cost?
5. GivenThe cross elasticity of demand between hotdogs and hamburger price = 0.5What will be the percent change in hotdog sales if the price of hamburgers goes up by 10%?
Calculate the effect of the following events on the monetary base:
The firm is considering a movement of the plant to Shenzen, China where labour is cheaper. The same mathematical relationship between inputs and outputs will hold.
Analyze internal as well as external factors impact organizational behavior in the military or another agency.
What happens to labour supply increases?-He will work more as wages increase, but only if n > 0.
The California Instruments Corporation, a producer of electronic equipment, makes pocket calculators in a plant that is run autonomously. What price should the manager charge for the calculators?
Is it ethical for a government to pretend in ways which socialize financial risks or losses.
What is the marginal physical product of the fifth worker? What is the weekly wage of the fifth worker? What does the price of output need to be in order for the firm to profit from hiring the fifth worker?
Provide each of the subsiquent price elasticities, determine whether marginal revenue is positive, negative, or zero.
An ice cream shop read in the local paper in which the elasticity of market demand for ice cream
A firm has offices in London and New York. Fractional units of labor can be employed in each location (as part-timers can be hired) and the headquarters could be in either city.
Briefly discuss and illustrate the circumstances under which the minimum wage would (1) not lead to unemployement, amd (2) not cause a reduction in the total earnings of low-wage workers who are still employed.
Explain how can rational thinking the above behaviors. How do your thoughts impact, if at all, your opinion of the theory.
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