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Suppose that two countries, A and B, have the same rates of investment and depreciation, the same levels of productivity, and the same levels of output per worker. They differ, however, in their rates of population growth. The growth rate of population in Country A is greater than in Country B. According to the Solow model, which country should have a higher growth rate of output per worker? Explain your answer.
b. Find marginal product. Find the number of labor (L) that the firm should hire to maximize marginal product. c. Find the number of labor (L) that the firm should hire to maximize total product of labor. d. Find the number of labor (L) that the firm..
Draw and explain the parts of a PPC. Draw a PPC for country Nambi and assume that the economy produces only computers and automobiles. Suppose now that there is a new technological breakthrough in the production of computers.
imagine that you have decided to open a small ice cream stand on campus called ice-campusades. you are very excited
suppose the consumption function isc 400 billion 0.8y and the government wants to stimulate the economy. by how much
Explain which intellectual property appears the most difficult for a business owner to protect. Provide support for your answer.
How is the market price of a good determined? When the market for a product is in equilibrium, how will consumers value an additional unit compared to the opportunity cost of producing that unit? Why is this important?
consider the employee-employer relationship - an employee would like to be paid but also gets some benefit by
1. consider a two period model. an agent gains utility from consumption today c1 and in the future c2 according to uc1
the study of government regulation and the competitive environment for business is relevant to all those who study
Let the utility function be U = log(x) - l, where l is labour and x is consumption. Find the level of labour supply if the wage rate w=10.
Proposals to raise the minimum wage rate are often opposed with the argument that such a move would not only cause an increase in the unemployment rate but would also hurt the very people it is intended to help. Is there any validity to that argum..
Workers are compensated by firms with “benefits” in addition to wages and salaries. The most prominent benefit offered by many firms is health insurance
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