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Suppose that labor costs w=$100 per day and that at the current level of employment the marginal product of labor is 20. What does marginal cost equal? Show/explain. Interpret the value you obtained for marginal cost. If, at the current employment level, labor is subject to diminishing marginal returns, what happens to the value of marginal cost that you calculated if the firm expands the employment level? Explain.
How does Costco differ from other retailers? What is their business model? Who is the Costco target customer? Why? Why are the stores laid out the way they are? How is this different from other retailers? Why does Costco keep the price of its hot dog..
What makes it conceivable for a country to experience constant debt to GDP ratio and at the same time experience continual government budget deficits is: Government budget surplus or deficit is: A rise in the government budget deficit will have a :
One British pound exchanges for 1.6 U.S. dollars. One dollar exchanges for 81 Japanese yen, or for 6.2 Swedish krona. What is the exchange rate between the pound and the yen, between the pound and the krona, and between the krona and the yen? Draw a ..
If the government decided to impose a 20% tax on red t-shirts, would the government generate a large or small increase in revenue? Use the concept of elasticity to explain your answer.
Create a table where Q equals 0, 10, 20, 22.5, 30, 40 50 and 55. In the table include Quantity, Price, Total Revenue, Marginal Revenue (where MR equals the change in TR divided by the change in Q in the table), MR where MR=a-2bQ (include an explanati..
You complain that the current labor contract specifies a full hour for your lunch break and you still have over 15 minutes left.
Small country Alpha exports lumber products obtained by cutting Alpha's forests. Cutting the forests creates negative external effects in Alpha.
In the town of Inksville, Tats for Tots (i.e., TFT) is the only tattoo parlor dedicated to the under-18 age group. Being a monopolist, TFT hires you to advise it on the best price and quantity of tattoos to sell each month. Determine the values of P ..
Show the effects of an increase in labor supply to 5,000. Show the effects of a twenty percent upward shift in the production function. By the way did i do marginal product correctly
q1. individual has a utility function described by the equation u2xv. the price of x is 32 every item whereas the price
Giving a brief explanation, determine the likely effect of each of the following on the value of GM stock.(Consider each event independent of the others.) a. The Federal Reserve lowers both the "discount" rate and the Federal Fund rate.
Select two major ethical theories covered in your readings for Week One. What are the major differences between these two theories? Which one of these theories is most aligned to your personal beliefs? Explain.
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