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1. What distinguishes the short-run from the long run?
2. What is the difference between marginal product and average product?
3. Explain how studying for an exam is subject to the law of diminishing marginal productivity.
How many goods are traded?
If the farm adopted a new technology, which allows it to use fewer resources to fatten chickens, explain how the farm's production possibilities will change. Explain how the opportunity cost of producing a bushel of soybean will be affected.
You are the sales manager for an appliance store. You have a total of 100 sales people. 40 sales people sold $1000 or less and the rest sold over $1000. Of the 40 who sold $1000 or less, there is a 0.20 probability that the sales person was new.
Discuss why each regression specification appears to be unsatisfactory. Explain why it was not possible to perform a common factor test.
Where Q measures the number of units of the public good and P is the price in dollars. The marginal cost of providing the public good is $180. a) What is the economically efficient level of production (Q*) of the good? b) Illustrate your answer on ..
Determine the possible circumstances under which the company should discontinue operations. Suggest key actions that management should take in order to confront these circumstances.
Now repeat part (a), assuming that domestic investment is very responsive to the interest rate so that U.S. firms will cancel most of their new investment plans if the interest rate rises. How will this affect the answer you gave previously?
ECON10132/ECON20292 Further Statistics. The tensile quality of a steel billet can be measured by its α- content. Define a suitable discrete random variable to represent the price of a tonne of steel
Consider a project that requires an initial investment with the following patterns of cash flow. n 0 1 2 3 4 5 Receipt $0 500 500 500 500 500 Disbursement $1000 100 140 180 220 260a) Compute the net cash flow and show it in a table or diagram.
Please keep in mind that implementation requires adjustment of the structure, staffing, and leading or directing in order to achieve the enhanced goals and objectives.
Calculate the new equilibrium interest rate and quantity, and explain why the direction of the interest rate shift makes intuitive sense.
suppose two types of consumers exist, a more affluent group (1) with an estimated price elasticity for biscuits of -2 and a less affluent (2) with an estimated price elasticity for biscuits of -2.5. Pillsbury puts a posted price of a particular amoun..
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