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Fill out the following table for the short run for K=8. MPL refers to the marginal product of labor; MRPL refers to the marginal revenue product of labor. Using the rule MRPL = pL, find the profit-maximizing number of workers for the firm to hire from among the options given in the spreadsheet. What are total profits for the profit-maximizing number of workers found?
Using Oaxaca decomposition, calculate how much of wage differential is due to discrimination. What is an alternative Oaxaca decomposition that would lead to a different measure of discrimination.
What are bureacrats and what do economisits argue negatively when considering them in today's economy? Provide an explantion/example of why.
Case study: loan payments in Great Britain's retail banking sector changes in their operating environment have facilitated greater competition in the British retailing banking sector. Where is the equilibrium price of a loan per customer? Now how man..
Assume that the US is Home. For each of the transactions below (including the paymen for each), is it more likely to lead to a Current Account (+) or a Financial Account (-) or neither on the US BOP? Cuban tourists take a whale-watching cruise out o..
how many pineapples will she consume? If her income increases to $120, how many grapefruits will she consume? Are grapefruits a normal or inferior good?
Suppose that annual income from a rental property is expected to start at $1,000 per year and increases at a uniform amount of $50 each year after the first year for the 10-year expected life of the property. Assume an interest rate of 10%/year. Assu..
When two people enter into a contract they both expect something very specific from the other, right? Does this make calculating damages, in a case of breach of contract, easy, Why or why not?
Assuming that no currency leakage occurs, how much will the bank be able to lend to its customers following the Fed's purchase?
Which of the following statements correctly defines a demand curve?
The first cost of a waterjet machine to be used for slicing cheese is $60,000. The machine will generate net annual income of $11,955 during its useful life of 10 years. Determine the rate of return of on investment in this machine.
As the Euro appreciates in value relative to the U.S. dollar, what happens to the price of U.S. goods in Europe. Elucidate what happens to the price of European goods in the U.S.
Chevron Corporation is one of the largest integrated oil companies in the world. Its management is assessing the world marketplace and taking steps to sustain the company’s competitive position. Faced with business competition on a global scale, Chev..
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