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1. Compare the scale of agricultural production in the advanced and developing economies. In which is the percentage higher? In which is the total amount produced greater?
2. On a graph of the circular flow model, indicate in which real or money flow each entry in List 2 belongs.
You win $100 in a basketball pool. You have a choice between spending the money now or putting it away for a year in a bank account that pays 5 percent interest. What is the opportunity cost of spending the $100 now
Explain how in the (Solow) exogenous growth model, output and consumption per worker converge in the long run to steady-state levels. Show that output per worker increases in the long run when the savings rate increases or when the population grow..
Demonstrate that the maximum likelihood estimator of p is m/n.
How can your company profitably exploit this difference?
One U.S. dollar exchanged for 0.7587 euros. One euro exchanged for 130.963 Japanese yen.
The best level of output for a monopolist in the short run is 500 units and is MR=MC. At this point Q=500, P= $11 and ATC= $8, so that the monopolist earns a profit of $3/per unit and a total profit of $1,500. Suppose that the AFC of the monopolis..
a) How many firms will operate in this market at a long-run equilibrium b) How would your answer change if each firm faced a price elasticity of demand of -4/3 and charged a profit maximizing price of $400 per unit
How would you find the optimal location of a single concentrator that serves any contiguous set of customers? Show how to use the solution of these single-location subproblems (one for each interval of customers) to solve the concentrator location..
Explain how you could make a profit from this situation. What would be your profit per bushel of rice If other people exploit the same opportunity, what would happen to the price of rice in Japan and the price of rice of rice in the United States..
Plot the level of the index of consumer sentiment against the growth rate of disposable income per person. Is the relationship positive?
Compute the profit consequences of the advice.
Suppose Gillette's L.A. plant had a marginal cost of 10 cents rather than 8 cents per blade. How would your answer to part (a) change?
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