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Suppose trevor hires workers to cook hamburgers. If the first worker's marginal product is 6 hamburgers, the second worker's marginal product is 21, and the third worker's marginal product is 20, then the average product of labor is _____ hamburgers. (Enter a numeric response using a real number rounded to one decimal place.)
Why do cotton growers spend billions of dollars to dam rivers and transport water hundreds of miles to grow cotton in California deserts?
An auto-service establishment has estimated its monthly cost function as follows: What price should the firm charge to realize the targeted profit? What would be its (cost-based) markup ratio? Now suppose the demand curve the firm faces is: Q = 3000 ..
In many Sub-Saharan African countries, girls have lower enrollment rates in secondary schools than do boys.
A new gear grinding machine for composite materials has a first cost of P=$100,000 and can be used for a maximum of 3 years. Its salvage value is estimated by the relation S=P(0.85)n, where n is the number of years after purchase. The operating cost ..
Who compiles data for the national accounting in US? How GDP is measured through income approach? How GDP is measured through expenditure approach? What are the differences between income and expenditure approaches in measuring GDP?
Suppose the store manager observes that the quantity demanded increases from 700 CD players to 1,300 CD players. Illustrate what is the price elasticity of demand for CD players.
q. assume that capital goods are on the vertical axis of a production possibilities graph and that consumer goods are
At 10$ per pizza, 100 pizzas were demanded. At 9$ per pizza, 125 pizzas were demanded. When the price of pizza falls from $10 to $9 what is the price elasticity of demand?
Risk premium is
q.why cant all the balance of payments accounts be in surplus? what factors determine the demand for british pounds in
Elucidate how the investor's curves would appear if she adopts the 50:50 strategies but would not accept any additional return.
Describe each market structure discussed in the course (perfect competition, monopolistic competition, oligopoly, and monopoly) and discuss two of the market characteristics of each market structure.
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