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Assuming that labor is the only variable input in the short run, draw a typically shaped marginal product cuve for labor. Explain why the curve looks like this. Identify the point where the law of Diminishing returns sets in. Explain why we expect this to occur. What does the shape of the marginal product curve tell us about the shape of the corresponding MC curve? Explain?
In developing nations, young women have lower enrollment rates in secondary school than do young men. Describe several ways in which greater educational opportunities for young women could lead to faster economic growth in these countries.
Now, suppose the U.s. government wants to buy enough wheat to raise the price to $350 per bushel With this drop in export demand, how much wheat would the government have to buy? How much would this cost the government?
assume that you have been appointed as the speaker of the house. you must deliver a speech about the current state of
a firm has two prodcuts and two customers. customer 1 is willing to pay 9 for product a and 4 for product b. customer
International data show a positive correlation between income per person and the health of the population. How might the relative importance of two hypotheses be relevant for public policy
Presume we are given the following information for the economy of Birch enough. GDP is $12,000, planned investment spending is $400 and autonomous consumption is $600. The marginal propensity to consume is 0.82. What is the value of the multiplier fo..
what is meant by producer price index ppi? how has ppi behaved since year 2000? what have been the causes of these
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Discuss Khalid's proposed business in terms of a competitive market and in terms of a monopolistic competitive market. Which type of market structure might he hope develops? Why? Does that development depend on him? Explain.
Which of the following is not a component of trend analysis?
Explain graphically and verbally what happens to the market in the short run and in the new long run equilibrium if factor prices and demand are assumed to remain the same as before.
Consumer preferences for various commodities did not change during the analysis. In some situations, however, preferences do change as consumption occurs.
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