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Q1. What are the advantages and disadvantages of austerity?
Q2. Leadbelly Co. sells pencils in a perfectly competitive product market and hires workers in a perfectly competitive labor market. Assume that the market wage rate for workers is $150 per day.
a. What rule should Leadbelly follow to hire the profit-maximizing amount of labor?
b. At the profit-maximizing level of output, the marginal product of the last worker hired is 30 boxes of pencils per day. Calculate the price of a box of pencils.
q1. what is the rationale behind the mini-max regret rule? illustrate several less formal and precise methods of
What are the main differences between microeconomics and macroeconomics? Provide an example of a microeconomic and macroeconomic phenomenon.
A businesses strategic choices are limited by economic conditions. When you arrive at strategy class, you will be asked to perform an environmental analysis.
Illustrate what additional information is needed for you to be able to compute the price elasticity of demand for DVD players.
Demand in a perfectly competitive market is Q = 100 - P . Supply in that market is Q = P - 10.
The government budget is balanced, with government purchases and taxes both fixed at $1,000. Net exports are $100.
Explain why did they have differing views on socialism, with Marx being optimistic and Weber being pessimistic.
Explain how does the price elasticity of demand for corn oil influence the quantity-demanded of corn oil and the Total Revenue earned by sellers of corn oil
Why would the government bypass the free market in times of war? Is government rationing a better idea than rationing by price? Give reasons. How does government rationing affect the allocation of resources? Explain.
examine the following list of goods and services. which goods and services should be included in fredonia gdp in 2009
Compare the sum of consumer and producer surplus for the monopoly with the results for perfect competition.
q.consider two neighboring island countries called bertland and ernamia. they each have 4 million labor hours available
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