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Q1. Labor costs $12 per hour. Nine workers produce 180 bushels of product per hour, whereas 10 workers produce 196 bushels. Land rents for $1,200 per acre every year. With 10 acres worked by 9 employees marginal physical product of an acre of land is 1400 bushels every year. Does the farmer minimize costs by hiring nine workers and renting 10 acres of land? If not, which input should he use in larger relative quantity?
Q2. If there is a 10% decline in the cost of women's fur coats and a 25% increase in quantity demanded Illustrate what is the elasticity?
1. Describe the product, production methods, scale of production, and sources for raw materials. What technologies are used 2. Describe the competitive environment within the industry. Is there a dominant firm
Assume a bank faces a required reserve ratio of 5 percent. If a bank has $200,000 millino of checkable deposits and $15 million of total reserves, then how large are the bank's excess reserves?
In addition categorize the level of elasticity of a product or service of your choice from real life depends on what you know happens to the percentage change in quantity demand when the price changes.
q1. from the price elasticity calculated above we can say that if the price of x increases by 10 then its demand will
Illustrate what mistakes did policymakers make that have kept developing nations from growing more quickly.
Elucidate how would you argue your case, both in terms of opportunities also necessary local adaptations to successfully enter the region or further develop your presence.
Your grandmother is gifting you $100 a month for four years while you attend college to earn your bachelor's degree. At a 5.5 percent discount rate, what are these payments worth to you on the day you enter college?
Illustrate what was your total revenue in dollars yesterday (be sure to include your commission). Why would your profit for the day be considerably less than this total revenue.
Contraction GAP, Illustrate what does a Contraction Gap imply about the actual rate of unemployment relative to the natural rate.
determine what product it could export and discuss why this product could be successful in that country. Make sure to explore and report the demographics of the country, as well as any transnational concerns listed.
Assume that he marries her the subsequent year. Other things equal, which of the following would be true concerning the reported official GDP the following year.
q1. sam purchased a 5 year treasury note with a 1000 face value and a 7.5 coupon rate. with the help of excel
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