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a) Explain what is meant by the terms transfer earnings and economic rent of a factor of production.
b) Using well labelled diagrams, illustrate cases when the total factor payments may equal to economic rent, or transfer earnings or shared between the two.
c) i) Briefly explain and illustrate quasi-rent.
ii) Discuss some of the economic implications of a rising trend in the rural-urban migration and offer policy recommendations to reverse it.
Where Q is millions of subscribers What is the total cost function? What is the marginal Cost function?
(a) Calculate: (i) the cost of an order for 40,000 units (ii) the price of one unit of Item A in dollars at an exchange rate of £1 = $1.40. Manufacturer M also makes Item B, at a rate of 1,750 units per day. (b) Calculate how many whole days will be ..
The current congress seems to be flexing a little more muscle way back in Washington D.C. than in the past. Is there more accountability or just more political posturing?
Suppose the Fed expands the money supply, but because the public expects this Fed action, it simultaneously raises its expectation of the price level. What will happen to output and the price level in the short run
A manufacture is planning outsourcing their product to China, where the costs to produce the product are considerably cheaper. You have been brought in as a consultant to discuss economic considerations of such a move.
Why does the government sanction this form of contract- recognition of the institution of marriage? How does the issue of the gender of each participant in a given marriage fit into the discussion?
Please show your working-A person borrows $200 from a payday loan company, and pays $10 interest for two weeks. This would result in an annual interest rate of approximately ___ percent. Ignore compounding.
Assume that American rice sells for $100 per bushel Japanese rice sells for 1600 yen per bushel and the nominal exhange rate is 80 yen per dollar
what are the implications for economic growth and development for these nations.
If the price of labor increases from $40 per unit to $60 per unit, what happens to the total cost of producing 500 units of output in the short run (up or down, and by how much) What happens to the short run marginal cost
Explain what factors might cause individuals to expect that a country will devalue its currency. Explain the various actions that policy makers can choose in response to this expected devaluation.
Describe the balance that you currently seek between career and family life. Do you believe that the mindset of corporate America is conducive to the type of work and family arrangement that would suit you? Explain the major reasons why or why not..
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