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“The factor-price equalization theorem indicates that with free-trade the real wage earned by labor becomes equal to the real rental rate earned by landowners.” Is this correct? Why or Why not? Explain.
Suppose a government wishes to ensure that its citizens can afford adequate housing. Consider three ways of pursuing that goal. one method is pass a law requiring that rents be cut by one-fourth.
Suppose the weekly demand for garden benches is Qd = D(P ) = 450 − 2P. What price must they charge if they want to sell 100 benches per week? What price must they charge if they want to sell 150 benches per week? What is Noah and Naomi’s inverse dema..
Use an 8-year analysis period and a 10% interest rate to determine which alternative should be selected:
this year his company has been given the opportunity to take on two projects that will increase taxable income by $175,000. Determine the effective (average) tax rate on all of last year%u2019s taxable income.
Which of the following are the ideal conditions for a laissez-faire economy?
Let’s discuss the impact of proper contact with customers (face-to-face, via phone, written, or online communication) on a business. What are some examples of excellent service you've experienced?
In your opinion, does the Houston Medical Center, in which many hospitals gather, represent an example of perfect competition.
Could a service industry utilize production line approach or self-serve design also still keeps a high customer focus
The New York Times (Nov. 30, 1993) reported that "the inability of OPEC to agree last week to cut production has sent the oil market into turmoil...[leading to] the lowest price for domestic crude oil since June 1990." Why were the members of OPEC tr..
Given our still currently high unemployment rate (by historical standards) and low inflation rate, argue "for or against" a Supply-Side policy focus versus a Demand-Side policy emphasis.
An economy is initially at the natural level of output. There is an increase in government spending. Use the ISLM model to illustrate both the short-run and long-run impact of this policy change. Be sure to label: i. the axes; ii. the curves; iii. th..
A price taking firm chooses its inputs to maximize long-run profits. Labor and capital are substitutes in production and both exhibit decreasing returns to scale, q(L, K) = L^(1/2) + K^(1/2) . The output price is 100 and the price of each of the inpu..
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