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Suppose that the original labor supply curve, for a monopsony shifts to the right to if the firm spends $1,000 in advertising. Under what condition should the monopsony engage in this advertising?
1. suppose the demand for a product is given by p 50 - q. also the supply is given by p 10 3q. if a 12 per unit
Consider the following exchange economy with two consumers and two goods. Consumer 1 has utility function u(x,y) = x1/2 y1/2 and initial endowments (ex,ey)=(1,0). Consumer 2 has utility function u(x,y) = x2 y and initial endowments (ex,ey)=(0,1).
Do you agree with these senators that reducing barriers to trade reduces the number of jobs available to workers in the United States?
what is central planning? Can central planning work? In the theory central planning is equivalent to markets but in practice it can not possibly work? What is meant by taut planning it can fully explain the problems of poor firm performance encoun..
An L treatment costs the physician 100 in cash, an H treatment costs the physician 200 in cash. A physician's utility from consumption x is log(x). an L treatment leads to a good outcome with probability 0.4. An H treatment leads to a good outcome..
The firm's production manager claims that the firm's average cost of production is minimized at an output of 40 units. Furthermore, she claims that 40 units is the firm's profit-maximizing level of output. Explain whether these claims are correct.
What insights do we get for the transactions money demand from using the pro?t maximization approach that are not apparent from the cost minimization approach?
Estimate what would happen to the market price as a result of the supply of both the incumbent firm and the new entrant. Approximately how much profit would each firm earn?
Coping strategies for job stress exist for both the individual and the organizational levels. Summarize and evaluate these various strategies for preventing and/or more effectively managing stress.
What is meant by Pareto efficiency? What is required for the economy to be Pareto efficient? If the conditions of the basic competitive model are satisfied, is the economy Pareto efficient?
Suppose that Glitter Gulch, a gold mining firm, increased its sales revenues on newly mined gold from $75 million to $150 million between one year and the next. Assuming that the price of gold increased by 100 percent over the same period.
Suppose there are 100 identical firms with the same marginal-cost curve. Draw the short-run industry supply curve
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