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Suppose the employees of Starbucks in China are paid 8 yuan per hour and a cup of coffee is priced at 8 yuan. If Starbucks is maximising its profit,
a. what is the value of marginal product of labour (VMPL) per hour of the last worker employed by Starbucks? Briefly explain your answer.
b. what is the employee’s marginal product per hour of the last worker employed? Briefly explain your answer.
Ruth decides to open a Doggie sweater company. It costs her approximately $5 in wool costs, and she pays $3 in labour costs to her knitting ladies. Their group meets at a hall which costs approximately $50 for rent.
Calculate the total fixed costs, total variable costs, average fixed costs, average variable costs, average total costs, as well as marginal costs.
He goes to his pal "Hammerhead" the loan shark who loans him $10,000 for a year. Illustrate what is true effective interest rate per year.
The marginal revenue generated for the monopolist by the 13in unit of its product is $6. What is the market-clearing price for the monopolist's product when 13 units are supplied to the market?
Suppose the National Commerce Bank has just started its operation with $10 million of Capital. On the first day, it receives total checkable deposits of $90million. The bank makes $30 million commercial loans and as safe investment it buys T-bill for..
In equilibrium, approx what is the firm's total cost and total revenue. Illustrate what is the firm's economic profit or loss in equilibrium.
Keeping all else constant, their answer would likely differ. How do you guess the interviewed will answer? Does the difference in response matters? I
If the market price of suits is constant, illustrate what is the shutdown level of output. What is the minimum price the firm can accept.
Explain how does global economic competition impact price elasticity in domestic market and decisions related to strategy a firm uses to compete.
How much must he save during each of the next 10 years (end-of-year deposits) to meet his retirement goal? Round your answer to the nearest cent.
Suppose that a security costs $3,000 today and Pays off some amount b in one year. Suppose that B. is uncertain according to the following table of Probabilities:
The following information is for the US economy in 1998: Find the US labor force, the number unemployed and the unemployment rate for 1998. Numbers are in millions. Hint: start with population and kick out all those not in the labor forces.
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