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Until the mid-eighteenth century when spinning became mechanized, cotton was an expensive and relatively unimportant textile (Virginia Postrel, "What Separates Rich Nations from Poor Nations?" New York Times, January 1, 2004). Where it used to take an Indian hand-spinner 50,000 hours to handspin 100 pounds of cotton, an operator of a 1760sera hand-operated cotton mule-spinning machine could produce 100 pounds of stronger thread in 300 hours. When the self-acting mule spinner automated the process after 1825, the time dropped to 135 hours, and cotton became an inexpensive, common cloth. Was this technological progress neutral? In a figure, show how these technological changes affected isoquants.
Estimate the equation and report your regression results - what is the marginal return to schooling? To experience?
The governing board of Middleville hired a consulting company to evaluate its strategic performance, specifically in the areas of Human Resources, Information Technology, Financing, and Marketing. As part of the consultant's evaluation, several le..
Suppose the number of points on an economics midterm (P) can be characterized by the following production function: P = 10H-4B where H is the number of hours spend studying and B is the number of beers in the week prior to the midterm.
Suppose all N producers have Bertrand conjectures: Each conjectures that it can change the price it charges without any reaction from rivals in the prices they charge. What is the symmetric equilibrium in this case?
You are a monopolist selling bowties for dogs. If B is the number of bowties, you have a total cost given by C=(B^2)/2 and a Marginal cost given by MC=B. The market for bowties is characterized by an inverse demand curve of P=90-B.
What are some exchange rate regimes? How does the exchange rate determine a business' competitiveness in the world economy?
Suppose the town keeps track of the contributions and issues passwords to people who contributed at least $20. Would you expect the total contributions to cover the $20,000 cost? 30.
If the price of good x fell to $1, what is the new optimal choice Explain what happens to the optimal choice as income increases. What is fundamentally different about the optimal choice when income is below $18(and Px=2) then when income is great..
The many identical residents of whoville love drinking zlurp. Each resident has the following willingness to pay for the tasty refreshment: first bottle-$5 second bottle-$4 third bottle-$3 fourth bottle-$2 fifth bottle-$1 further bottles-$0.
How does the presence of a large number of previous movers to a country affect the projected costs and benefits of subsequent movers?
How might contractionary and expansionary fiscal policies affect your organization?
the neighboring towns of Arlington and Belmont are trying to decide in which locality to site a new waste incinerator. The towns will share the benefits of the facility and also share the costs. each estimates its net benefit from the incinerator ..
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