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Q. Assume which at current factor cost s cloth is produced using 40 hours of labor for each acre of land, and food is produced using only 8 hours of labor per acre of land.
a. Assume which the economy's total resources are 320 hours of labor and 20 acres of land. Use a diagram and some algebra to find out the allocation of resources. (It doesn't necessarily have to be to scale.)
b. Say there is a bumper crops in births for some astrological reason, and the labor force increases 10% from 320 hours to 352 hours. Amend the diagram and use similar algebra to figure out Illustrate what happens again.
Assume that this cost is set by an upstream wholesaler with monopoly pricing power.
Illustrate what way the U.S trucking organization exemplified the capture theory hypothesis of government regulation prior.
Elucidate how scarcity of resources influences this market and describe the choices stakeholders are forced to make.
The university is seeking a grants to cover capital cost. How big of a grant would make this project worthwhile (to the university)?
illustrate what is the prospect cost of producing Toyotas in every nation. Should which information involve your calculation of the inflation rate.
q1. in the text we assumed that the condominium purchasers came from the inner-ring people-people who were already
Explain why is economics to an understanding of the problem of development. Why is an understanding of development crucial to policy formulation in developing nations.
Explain how would you conclusion vary for winter months, if bad weather formulate it likely for traffic jams on the highway to increase to 6 days per month.
q1. elucidate how a person who refuses an offer of employment in order to keep looking for a better job is counted by
Assuming that under cost controls rationing is as inefficient as possible while under the quota, the allocation is as inefficient as possible.
Ignore the time value of money and compute the optimal pricing scheme of the iphone, Suppose that there are equal numbers of each customer type, and that the MC of the iphone is $100.
What is the value of consumer surplus? What is the value of the deadweight loss created by this monopoly?
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