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Should the United States index its wages and prices? Detail the pros and cons of such a plan. How would your answer differ if you expected that the nation would face a period of extremely high inflation (say, 300 percent)?
Advice for an Unprofitable Firm. You've been hired as an economic consultant by a price-taking firm that produces baseball caps. The firm already has a factory, so it is operating in the short run.
Plot the Lorenz curve for income after taxes have been levied. Note that the total income will now be less than 100 and so you will have to compute the quintile shares using a new total.
a.) Determine the profit maximizing level of output. b.) Compute the profit maximizing price. c.) Calculate the upper and lower limits within which marginal cost may vary without affecting the profit maximizing output or the price.
A California asparagus farmer is maximizing profit. The price of asparagus is $2 a box, a farm worker's wage rate is $12 an hour, and the asparagus farm employs six workers. If, when the price of asparagus increases to $3 a box,the farm hires eigh..
What is the mean number of blank pixels per square foot? What is the standard deviation of blank pixels per square foot? What is the probability that a 2 ft by 3 ft screen will have at least one defect?
a. What is the optimal number of lures and guitar picks for Anthony to purchase How much utility does this combination bring him b. If the price of guitar picks doubles to $2, how much income must Anthony have to maintain the same level of utility
A small company expects to produce 8,000 items in the upcoming year. The current material cost is $5.25 each. 14 minutes of direct labor are required per unit. Workers are paid $7.50 per hour. 2,133 direct labor hours are forecasted for the produc..
What kings of long-term benefits and/or costs result from such a strike? Draw some assumptions. Maybe the variables are what is the current wage and how long the strick will last, how much money will be lost.
Find two countries that had a fixed exchange rate for a period sometime during the last 20 years. [Hint: Choose one of the developing countries (e.g., Malaysia, Thailand). ]
Suppose a randome experiment can be represented by 2 sets of events ,Aiand Bj ,with each pair of sub events (A1andA2,andB1,andB2) being mutually exclusive and collectively exhaustive. Find the conditional probabilities
Suppose that a country has no public debt in year 1 but experiences a budget deficit of $40 billion in year 2, a budget deficit of $20 billion in year 3, a budget surplus of $10 billion in year 3, and a budget deficit of $2 billion in year 4.
You and your friend Joe have identical tastes. At 2 p.m., you go to the local Ticket master outlet and buy a $30 ticket to a basketball game to be played that night in Syracuse, 50 miles north of your home in Ithaca. Joe plans to attend the same g..
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