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Suppose the production function is given by Q= 5K + 6L. What is the average product of labor when 8 units of capital and 10 units of labor are employed?
in the example of the falkland island incident why did the british spend enormous sums of money on such a small piece
A country currently imports automobiles at $8,000 each. Its government believes that, given time, domestic producers could manufacture autos for only $6,000 but that there would be an initial shakedown period during which autos would cost $10,000 to ..
write an assessment of local economic development programs within your community. be sure to address key issues
Describe how the market economic system works to answer fundamental economic questions. Describe how this may differ from a command economic system.
a critical assumption in the model of demand and supply is the independence of demand and supply curves. if the two are
a pure monopolist determines that at the current level of output the marginal cost of production is 2.00 average
Distinguish between explicit and implicit costs, giving examples of each. What are some explicit and implicit costs of attending college 2. Distinguish between accounting profit, economic profit, and normal profit. Does accounting profit or econom..
1. Why is there such a difference in Asia's share of global real GDP, depending on whether the computation uses purchasing power parties or exchange rates 2. Why is Asia's "economic size" so much smaller on a per capita basis than on an absolute ba..
1. if a firm makes a loss in the short run should it shut down? if no discuss. if yes discuss.offer examples2. do think
Examples of Barriers to entry are? Capitalism is an economic system, If people with high income pay a higher percentage of income in taxes,the income structure is
In 2008 the Fed initiated a program called QE or quantitative easing to try and stimulate the economy. Using a fully labeled aggregate demand and supply graph, show what the objective of this program was. Explain what the new equilibrium point mea..
A channel of distribution: A) is any series of firms or individuals who participate in the flow of goods and services from producer to consumer or final user. B) is only needed when products must be stored. C) must include one or more intermediarie..
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