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The utility function U = (X^3)Y. When X (on the horizontal axis) =16 units and Y (on the vertical axis) = 48 units, the marginal rate of substitution of the indifference curve passing through this point is?
Suppose that you can schedule a worker for up to 4 hours per day. The total benefit and total cost functions are B(H) = 300H - 20H^2 and C(H)= 500H + 60H^2. The corresponding formulas for marginal benefit and marginal cost are MB(H) = 300 - 40H and M..
If MPC is .75 then if consumer income rises by $10,000 we would predict that consumption will: A. rise by $7500 while savings fall by $2500. B. fall by $2500 while savings rise by $7500. C. rise by $7500 while savings rise by $2500. D. fall by $2500 ..
Illustrate what is currently occurring to the supply also demand for labor also its effects on wages, union membership, also other labor force related topics.
The hospital’s marketing and finance departments have just provided you, as chief financial officer, with pro forma income statements for your proposed sonogram center.
Some doctors in the US are paid a fee for all the services they perform for their patients. Other doctors receive a fixed payment (capitation) for each of their patients, regardless of the number of services performed. What are the advantages and dis..
A tobacco company is interested in hiring a salesperson to promote smoking cigarattes in nightclubs. The position pays a flat salary of $50,000, regardless of sales levels. The firm has two applicants, predictable Patty and Risky Ricky. Now assume bo..
Calculate the unit cost of a product if the material cost is $3 per unit, labor is $5 per unit, and overhead is calculated at a rate of 150% of labor. The first cost of the equipment needed for production is $50,000, with a life of 12 years and a sa..
Boris budgets $9/week for his morning coffee with milk. He likes it only if it is prepared with 4 parts coffee and 1 part milk. Coffee costs $1/oz, milk $0.50/oz. How much coffee and how much milk will Boris buy per week? How will your answers change..
Compute Ikonomia's gross national expenditure (GNE), gross national income (GNI) and gross national disposable income (GNDI).
Suppose the price at which a monopolist is selling its output is $8, and the marginal revenue associated with the last unit of output sold is $7. Suppose further that the marginal cost of producing the last unit of output sold is $6. Which of the fol..
The following is a quote from a news article: "If a company makes product donations to the school- computers for instance - then the image of a. company goes up as graduate students use the company's products." Does such action consistent with a comp..
Brice just finished a residence in internal medicine and wants to go into practice with Horace and Joyce. Brice tells you that while he needs to practice with other physicians for call coverage and for other reasons, he does not want to be personally..
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