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The additional output produced by a firm as a result of hiring another worker is called the marginal product of labor. The amount by which a firm’s revenue will increase as a result of hiring one more worker is called the marginal revenue product of labor. Would a firm hire another worker if the marginal revenue product of labor exceeded the market wage rate? Why or why not?
Do you agree or disagree with people and companies voluntarily sacrificing personal liberties for the sake of preventing and resolving cyberattacks. Explain your response.
Why is the financial system of a country important for long-run economic growth? Why is it vital for economic growth that firms have access to adequate sources of funds? Explain. Why do businesses demand loanable funds? Explain what happens to the eq..
Consider the following Cobb- Douglas production for red bean coffee. q=(l^0.2)*(k^0.5). intutively, why are cobb-douglas production function more appropriate representations of reality than, say, linear production functions?
q1. angie silva recently opened the sandal shop a store that specializes in fashionable sandals. angie has just
What should the USA government do with individuals' that fight with for ISIS? i need a claim. reason, supporting , acknowledge, and respond. Why has cost containment become such a focus of the American public? Give examples of current cost containm..
There are 2 firms to consider here from 2 different industries. Determine the optimal price that both firms should be charging. Articulate which firm is more likely to earn ‘excess profits’ in the long run…and explain why this is your answer using yo..
When the government imposes a price floor above the market price, the result will be that:
Calculate equilibrium quantity. Now suppose that the government imposes a tax on consumers of $1 per unit. Recalculate the prices for consumers and producers, and the quantity sold.
What amendment to the Constitution includes BOTH the Equal Protection Clause and the Due Process Clause?
From California to New York, legislative bodies across the United States are considering eliminating or reducing the surcharges that banks impose on noncustomers, who make $10 million in withdrawals from other banks’ ATM machines. Based on this infor..
The Blue Dragon Restaurant is a new Chinese Restaurant in town. As the only Chinese restaurant in the area, it faces the following daily demand curve: Determine the profit-maximizing price of each meal assuming The Blue Dragon is behaving as a monopo..
Mitchell's money income is $150. The price of X is $2 and the price Y is $2. Given these prices and income, Mitchell buys 50 units of X and 25 units of Y. Call this combination of X and Y, bundle J. At bundle J, Mitchell's MRS is 2. At bundle J, if M..
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