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You produce widgets for sale in a perfectly com- petitive market at a market price of $10 per widget. Your widgets are manufactured in two plants, one in Massachusetts and the other in Connecticut. Because of labor problems in Connecticut, you are forced to raise wages there, so that marginal costs in that plant increase. In response to this, should you shift pro- duction and produce more in your Massachusetts plant?
Calculate the price elasticity of demand for Einstein's Bagels and explain what it means. Derive an expression for the (inverse) demand curve for Einsteins's Bagels.
1. what is the steady state level of capital per effective worker?2. if A grows at rate Ga, and N grows at rate Gn, what is the steady state level of capital per effective worker?3. what are the steady-state growth rates in terms of (Ga + Gn) of: cap..
the following production table provides estimates of the maximum amounts of output possible with different combinations
1-what is foreign aid and what is the goal of foreign aid? does foreign aid promote economic development? explain.2-how
in the united states managed care is becoming an increasingly popular method of administering healthcare. it influences
3. Suppose an individual's utility function over income (M) and leisure (L) is U(M,L)·L, and the individual has non-labor income Y and earns wage w. The total amount of time available is 16 hours.a. What is the equation for the budget constraint? G..
Sixteen states sue the major tobacco companies for billions of dollars because of tobacco-related costs in their Medicaid programs. Medical evidence that more than two cups of coffee a day (Considered by many to be a substitute for smoking) greatl..
Two drivers—Tom and Jerry—each drive up to a gas station. Before looking at the price, each places an order. Tom says, “I’d like 10 gallons of gas.” Jerry says, “I’d like $10 worth of gas.” What is each driver’s price elasticity of demand?
Is climate change a real threat to the global economy?
Determine how the following situations will affect the demand curve for ipods.
What is the difference between a cooperative and a noncooperative game? Give an example of each.
identify economic factors that affect the real gdp the unemployment rate the inflation rate and a key interest rate.
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