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1.) Suppose Bob owns a pizza place in a competitive market. If an additional worker will cost Bob $200 and offers marginal productivity of 40 pizzas, what is the marginal cost of producing a pizza? Show your work and explain your reasoning.
2.) Consider the market for managers. Assume the opportunity cost of earning the MBA decreases for many people. Let's assume it typically takes about two years to complete the MBA, so what happens to the equilibrium wage for managers in two years other things equal? Draw a picture use it to explain your reasoning.
Illustrate what factors led to the mortgage default crisis. How did mortgage defaults affect banks involved in mortgage lending and mortgage investing.
View "Trade-Offs and Opportunity Costs," located on the YouTube website. Share an example of your own experience in which you had to decide on an opportunity cost that would affect you. What outcome did the decision have on your economic situation..
The problem belongs to Economics and the problem is about a report on the 2008 National Trade Estimate Report on Foreign Trade Barriers on specific country.
All of the following questions or statements regarding medical school are positive except: A) How do changes in expected future incomes affect the decisions of medical students about which specialty to choose?
The US as well as Canada have intervened in the market and tried to internalize some of the costs of pollution by placing regulations on the amount of pollutants that industries can emit.
Assume a randon variable x, that is uniformly distributed between 25 and 50. a. What is the mean of x? b. What is the standard deviation of x? c. What is the probability that x is between 28 and 37?
MULTIPLE CHOICE (identify the one best answer below and explain your reasoning for each option): When businesses are pessimistic about the future and invest less than they had planned, then:
If the money supply increases, show the three different (simple, single variable) responses to the increase. b. What best describes the response to monetary policy in 2013? c. What best describes the response to monetary policy in 1973?
A possible international monetary regime consists of a world central bank conducting monetary policy and issuing a single currency used throughout the world. Elucidate what would the advantages and disadvantages of such a system be.
Suppose the Jamaica biscuit producing company, located in Kingston, has 100 ovens and the life of each oven is 5 years, and 20 ovens must be replaced each year. If demand for the biscuits is constant, how many ovens will be replaced each year?
Elucidate how would the different forces come together to create a convergence between the interests of stockholders and managers.
Suppose a single parent can work up to 16 hours per day at a wage rate of $10.00 per hour. Various income maintenance programs have been developed to assure a minimum level of income for low-income families, such as Aid to Families with Dependent ..
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