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There are four factors of production (aka inputs) in the production process: land, labor, capital and entrepreneurship. Land, labor and capital was explained. Discuss why entrepreneurship was left out of the picture.
An industrial firm can purchase a special machine for $22,000. A down payment of $2,500 is required, and the balance can be paid in 5 equal year-end-installments at 14% interest on the unpaid balance. As an alternative the machine can be purchased fo..
Illustrate what is profit-maximizing level of price and quantity for this monopolist. Illustrate what will profits be at this price and output level.
For this SLP take a look at how your organization manages its inventory and then answer the following questions.
Autonomous aggregate expenditures decreases by $200 million, the marginal propensity to consume is 0.50, marginal propensity to invest is 0.25, and the marginal propensity to import is 0.10. Calculate the change in income.
When do assumptions made in conjunction with economic theorizing have to be realistic. Can unrealistic assumptions provide useful outcomes.
"Consider the following statement: "Employers should be able to replace permanent workers during a strike." Do you agree? Explain why."
Suppose a firm faces the inverse demand curve P = 100 – Q. Marginal cost is constant at $10. Calculate producer surplus and the deadweight loss under monopoly pricing.
Stagflation is caused by
What examples of 1) elasticity, including an explanation of why or how they demonstrate the concept of elasticity; and 2) examples of externalities, again including an explanation of why or how they demonstrate the concept of externalities
Suppose that you own a 25 year old movie theater in Micropolis. It has 6 screens and a concession stand. Across town there is a 7 year old movie theater with 4 IMAX screens and 20 more regular screens. Now that you have looked at these characteristi..
Using diagrams show what changes in price and quantity would be expected in the beer market under the scenarios given. Indicate what happens to equilibrium price and quantity and state whether the effect is a change in demand/supply or quantity deman..
Briefly explain whether you agree with the following statement: I recently read that more than half of the money issued by the government is actually held by people in foreign countries. If this is true, the United States is less than half wealthy as..
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