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Consider a firms per-period (e.g., hourly) production process. If it employs 1 unit of labor, then 4 units of output will be produced; if it employs 2 units of labor, then 10 units of output will be produced; and if it employs 3 units of labor, then 18 units of output will be produced. It follows that: Total output is ______ at a(n) __________ rate and the marginal product of labor is ________.
A truck for hauling coal has estimated net cost of $55,000 and expected to give service life of 250,000 miles with salvage value of $5,000. Compute the allowed depreciation amount for truck usage of 30,000 miles. (Hint: Consider miles equivalent to t..
illustrate what dollar amount will the profit margin.
congress decides to reduce our dependence on foreign oil by imposing a $.50 tax on each gallon of gasoline at the pump. Elucidate briefly what kind of supply and demand elasticity for gasoline must be present in the U.S. market, in order for this..
What is the difference between inflation and a relative price increase? Explain If the inflation rate is 4% and the nominal rate of interest is 10%, what is the real rate of interest? Explain with an example.
To maximize profit a price discriminating firm should
What output will firm choose. What will be monopolistic competitor's average fixed cost at output it chooses.
In May in Huntsville, the high temperature exceeded 80°F on 20 days. It rained on 8 days when the high temperature was over 80°F. If we choose any day in May, the probability that it rained on that day is independent of the probability that the high ..
q1. an average department store sells 350 mens suits every year. the mens suit departments at a particular national
Describe the scope of Public Finance. Explain different philosophical approaches to the role of the government. Describe the size of the government sector in the U.S.
Growth rates in the Solow model (II): Suppose an economy begins in steady state and is characterized by the following parameter values: s 0.2, d 0.1, A 1, L 100. Apply your answer to question 8 to calculate the growth of per capita GDP in the period ..
In the cas Palmer v. Champion Mortgage Palmer received a debt-consolidation loan from Champion. When she signed the loan agreement, she also received the required TILA disclosures.
1. 1.because bank funding markets are global and have at times broken down disrupting the provision of credit to
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