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Suppose that a? firm's only variable input is labor. The firm increases the number of employees from four to? five, thereby causing weekly output to rise by four units and total cost to increase from $2500 per week to $2800 per week. What is the marginal product of the fifth? worker?
Define what we mean by money and how it is used in the day to day functioning of the U.S. economy. Be sure to include the major components that make up what is defined as money and which of these components is used most widely to identify what money ..
q1. which of the following market transactions of final goods and services are excluded from the computation of u.s
q1. how could you use cost volume profit analysis in a products of choice. explain its benefits and limitationsq2.
Two major sociological figures: Karl Marx and Max Weber. Both were concerned with the concept of power, with inequality, in short, with social stratification.
Cite the major functions of the district Federal Reserve banks. Brief overview of monetary policy. Brief overview of the Board of Governors.
Trang has strictly convex indifference curves and is indifferent between the bundles (16, 2) and (2, 4). Use the definition of strict convexity to show that Trang prefers (9, 3) to (2, 4).
Suppose households hold $0.30 in currency for every $1 they have as demand deposits (checking accounts). Also, banks hold 20% of their deposits as reserves. Instead of Bonds being sold, suppose that households chose to hold less in currency and more ..
Abdul spends all of his income on food (F) and shelter (S). His budget line is given by the equation 5F + 20S = 100. Which of the following consumption bundles is part of his consumption possibilities?
question 1explain and illustrate with diagrams the differences between diminishing marginal returns and decreasing
Suppose you are hired to manage a small manufacturing facility that produces Widgets. You know that you are operating in a monopolistically competitive market, that is, you are a small part of a large market with many competitors in this market. From..
Assume that the government places a 50 percent tax on widgets. Neither the demand for widgets or supply of widgets is perfectly elastic or inelastic. Draw a graph showing how the tax will affect the market.
The government has decided that the free-market price of cheese is too low. Suppose the government imposes a binding price floor in the cheese market. Draw a supply-and-demand diagram to show the effects of this policy on the price of cheese and the ..
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