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1. Suppose you are to specify a short-run total variable cost (STVC) function for a nursing home. Please list the independent variables (up to 5) and explain why they are included. In addition, define the impact of each independent variable on the STVC.
2. You are responsible for hiring one of two RNs for a clinic. The first RN is likely to serve 16 patients per day with daily wage at $100. The second RN is expected to serve 18 patients per day with daily wage at $120. Assume their services are at the same quality. Which RN will you hire? Why?
Explain why some people support unions whereas others oppose them. What advice would you give to an employer who wants to adopt some form of employee participation program but is concerned about the legality of such program?
With the help of a diagram show how home will benefit from trade according to the Ricardian Model. In your diagram, clearly mark the point of production and consumption before and after trade; mark the amount of import or export.
The national debt doubled in nominal terms during a time when the GDP Deflator increased from 200 to 300. This implies that the national debt: is smaller in real terms, has more than doubled in real terms, has increased in real terms, but it has less..
According to the Bureau of Labor Statistics, the distribution of consumer expenditures. If the negative income tax rate is set at 50 percent and the income floor is set at $5,000, a family that earns $3,000 would have a total income (including the in..
at an annual general inflation rate of f . Also, i = 9%. What is the amount A in actual dollars equivalent to A’ = $1,000 in constant dollars? Please provide step by step detail.
q1. sprint prior to spinning the businesses off to concentrate on cellular phone service provided both local and long
Calculate the percentage change in nominal gdp, real gdp and the gdp deflator in 2008 and 2009 from the preceding year. for each year identify the variable that does not change. explain in words why your answer make sense.
Suppose that in a year an American worker can produce 100 shirts or 20 computers and a Chinese worker can produce 100 shirts or 10 computers. Who has the comparative advantage in the production of shirts? What about for computers?
Suppose there are n identical firms in a market. Each firm’s cost function is given by C = 25 + q2, where q is the amount that an individual firm produces. How much output will each of them produce? What will be the market price? How many firms will ..
A food supplement store sold a vitamin for $2.00 a bottle and in one month sold 2,000 bottles. After a price increase, the vitamin sold for $2.20 a bottle and the store sold 1,900 bottles the next month. What is the elasticity of demand
Plot Vanessa's budget line by clicking on the two endpoints. The data-plotting tool will automatically connect the points with a line.
Which of the following is true concerning production in a free market economy? Which of the following represents how private property rights act as incentives in a free market economy?
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