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Explain how an improvement in lifestyle would alter the shape of the total product curve for medical care. (Assume that both total product and marginal product will increase). Also provide a graph to illustrate your answer.
The Governor of Arkansas has asked you (her crack economic advisor) to analyze how employment in trucking and poultry processing will be affected if the legislature passes a proposed law that will increase labor cost in both industries by ten percent..
What would the following contracts look like on a graph where the total income is on the horizontal axis and the number of tasks is on the vertical axis?
part 1 truefalse questions. explain your answer fully.1. the risk treatment in the bene.t-cost analysis assumes risk
Explain how low must a quota be in effect to have an impact. Using a demand-and-supply diagram, illustrate and explain the net welfare loss from imposing such a quota.
Research shows that much more money is spent on medical care for the elderly today than 50 years ago. What is the likely reason? Do today’s elderly tend to be sicker and more likely to be disabled than in prior years?
How do fixed costs play a role in your analysis? What is the difference between shutting down and going out of business?
Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for that nation. Which of the following scenarios are either not accounted for or measured inaccurately by either the inco..
In a certain building construction project , 6500 feet of ductwork is required. Today's price of a 24-inch diameter duct is 127.50$ per foot. If the cost of the ductwork is expected to increase 7% per year into the foreseeable future. How many laptop..
If a hurricane strikes Florida, and destroys 20 thousand pounds of oranges, what will the new equilibrium price and quantity be?
Consider an investor with preferences given by the utility function U = E(r) – 0.5Aσ2 and there are two portfolios with the following characteristics: Suppose that the investor has a level of risk aversion of A = 2. Which portfolio should the investo..
The efficient market hypothesis states that:
Suppose the production function for pasta is Q = 4kl ; What is the long-run optimal input combination when Q = 16 , r = 4 , and w = 36 and what is the long-run total cost function when r = 4 and w = 36
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