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Q1. You are the proud owner of a baseball card store. Suppose you sell $100.00 worth the baseball cards each day, with one employee operating the store for you. You decide to hire a second worker, and the two workers together sell $150.00 worth of baseball cards. What is your second worker's marginal revenue product (MRP)? If the price per card sold is $5.00, what is the second worker's marginal product (MP)?
Q2. You are going to develop an R-chart based on range statistics, and you are using a sample size of 15 for your charting purposes. Which of the following is the upper control limit D4 factor for the chart?
MERGERS AND PUBLIC POLICY Calculate the Herfindahl-Hirschman Index (HHI) for each of the following industries. Which industry is the most concentrated?
How many popsicles will be sold/supplied each day in the short run if the price rises to $4 each per day
No additional working capital is needed and no working capital will be returned. If your tax rate is 35% and you require a 14% return on your investment, what bid price should you submit?
Illustrate what is the industry's profit maximizing output level. Is the organization in long-run equilibrium.
How will this affect output and unemployment in the long run? c) Use an AS-AD graph to show the transition from the short run to the long run.
What is the optimal capital/labor ratio? If the firm can spend a total $320 in K and L, what is the optimal amount of K and the optimal amount of L?
Examines the choices made by individual participants in an economy, while macroeconomics considers the economy's overall performance
Elucidate what is meant by "double coincidence of wants, and why it poses an impediment to efficient trade in a barter economy.
If the prices of gold and other commodities increases how will this influence the value of the rand. Explain how will a depreation of the rand influence our exports and imports.
q1. connie and stephen must decide how to split a pie. suppose both of them simultaneously formulate demands x and y.
The process by which economics test hypotheses against facts to develop theories, principles also models
According to the rule for optimal input usage, a firm should hire a person as long as her marginal revenue product is greater than her marginal cost to the company. In offering such training programs, is a company violating the optimality rule?
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