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Frank Gunter owns an apple orchard. He employs 40 apple pickers and pays them $7 per hour to pick apples, which he sells for $3.50 per box. If Frank is maximizing profits, what is the marginal revenue product of the last worker he hired? what is that worker's marginal product?
Supposing the marginal cost curve is for a competitive industry as a whole, find out the profit-maximizing level of output and price.
Prepare an essay on Minimum wages are likely to harm those they are designed to help.
Consider the difference between the New Classical and Keynesian model regarding macro policy. What is the driving force creating growth in the economy in each model Why does each one say that item creates growth Explain
What is the condition that δ has to satisfy in order for the collusion to be sustained in both states and which can be sustained in equilibrium and gives the highest intertemporal profit?
Represents the potential outcomes of your first salary negotiation after graduation and does the ability to move first give the employer an advantage?
Define scarcity and opportunity cost. What role these two concepts play in the making of business decisions? What is Marginal Analysis ? (b) Why Is Marginal Analysis Important in Economics? (c) What is the role of Marginal analysis ?
Calculate the price that the Plaza Movie House will charge for admission to movies in the long run and what will be the number of patrons per day at that price?
Examine whether the introduction of the London Living Wage (LLW) has been good for London and for Londoners. Illustrate your answer using a case study focusing on one particular sector or industry.
The various financial indicators suggest that this setting of monetary policy is exerting a degree of restraint on the economy and the high exchange rate and subdued consumer spending are putting downward pressure on some prices, although increases ..
How would an increase in the world price of oil affect the amount of frictional unemployment. Is this unemployment undesirable. What public policies might affect the amount of unemployment caused by this price change.
What are the highest and lowest payments from the writer that the beekeeper-farmer team will accept for the sixth day?
WHAT FACTORS AFFECTED NATIONAL INCOME, UNEMPLOYMEY RATE AND INFLATION RATE WHAT FACTORS EFFECT EACH OF THESE ECONOMIC VARIABLES?
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