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Suppose a car wash firm that has 3 workers is able to wash 120 cars per day. When it adds one more worker, it is able to wash 152 cars per day in total. Suppose each car wash costs $15. Then the marginal revenue product for the 4th worker is ?
Please enter a whole number, with no decimal point.
Make a paper analyzing the current market conditions of the Airline industry including a supply and demand analysis that answers these questions:
Show how to find equilibrium in an RC model? What is the relationship between the marginal rate of substitution between leisure and labor and the marginal product of labor in the RC model.
Elucidate how do Keynesian and Real Business Cycle economists differ on the right response to Japanese stagnation.
Elucidate marginal utility explains a lot about human behaviour.
Discussion Board also identify one decision that JTI managers must make in each of the six value chain functions for this product.
Illustrate what options do Americans have in protecting their Social Security and dealing with these issues? How are these done on the microeconomic level.
nGDP is $5 trillion in Yr 1 and $5.4 trillion one year later. What is the GDP growth rate? B) If rGDP in Yr 1 was also $5 trillion what can you say about Yr1? C) If rGDP grew 5% between Yr. 1 and Yr. 2 what did GDP prices do?
The ability for economy to eliminate any imbalances in actual and potential output is sometimes called self-correction. Using an aggregate supply and aggregate demand diagram,
President Obama recently agreed in December with Republicans in Congress to extend existing tax cuts that were scheduled to expire December 31 and to create new tax cuts as well. Meanwhile, recent reports suggest that the economy may expand more.
Discuss the four major economic flows that link the United States with other nations and provide a specific example to illustrate each flow.
Explain the differences and/or similarities between firms in pure competition market structures and firms in monopolistic competition market structure:
Describe the effect that each of the policies will have on the economy and demonstrate each on an individual AD-AS graph. Be sure to address the effect on output, employment and price level in your descriptions.
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