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John Wilson, the owner of a fast-food restaurant, estimated that he can sell 1,000 additional hamburgers per day by renting more automated equipment at a cost of $100 per day. Alternatively, he estimated that he could sell an extra 1,200 hamburgers per day by keeping the restaurant open for two more hours per day at a cost of $50 per hour. Which of these two alternative ways of increasing output should Mr. Wilson use?
Elucidate the drastic change also Illustrate what this meant for the U.S. population.
Why might the U.S. have a comparative advantage in bioinformatics but not in manufacturing and steel making.
Why monetary policy conducted independently in the United States and is the intended effect always achieved or why not.
Analyze and outline the three most likely reasons for growing food insecurity in the United States. Do you think food insecurity is on the rise in the U.S.; how about in your own community
Explain a situation in which the outcomes of classroom experiments deviated from standard economics theory. What insights were learned from these outcomes and how are they incorporated into the standard theory they attempt to model?
What happens to the population size in the long run? Does the Iron Law of Wages (where Malthus asserted that technological change would not improve human living standards) hold in this case? Why or why not?
Suppose that, the economy initially at full-employment, the cantral bank increases the money supply. b. How are output and unemployment connected?
Compare the effects of the drought under the tariff with those under the quota
The function for the net exports is NX=200-100e, where e, is the exchange rate, and the exchange rate is initially 1.0.
q.assume that country a has a population of 500000 moreover only produces one good car. country a produced 100000 cars
The marginal revenue received by a firm in a perfectly competitive marketplace is illustrating what
In order to just break even, Elucidate how much will the company have to charge for every set.
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