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Demand curve is P=41-Q/100 cost of labor is L= 10. The profit in function is Q=10L. What is the marginal revenue product?
What is an absolute advantage? What is a comparative advantage? Give an example where you have an absolute but not a comparative advantage. Why should we specialize and trade?
Social Security has revenues of $1.8 trillion and expenditures of $1.3 trillion. The nonsocial Security budget has revenue of $2.1 trillion and expenditures of $2.4 trillion. The official budget will report a _______________ (deficit/surplus) of $___..
Illustrate what is the lowland of far southeastern India that borders the Indian Ocean also contains the city of madras.
WSJ's Justin Lahars reports that counties throughout the U.S. have seen employment declines that can be attributed to the importing of inexpensive goods from China.
Total fixed costs, Constant returns to scale occur when
"Some states have had laws restricting the sale of most goods on Sunday. Consumers, by and large, oppose such laws because they find Sunday afternoon a convenient time to shop. Paradoxically, retail trade associations frequently support the laws." Wh..
When free trade increases market competition, what happens to the ability of a firm to set high prices? What about when trade restrictions are imposed?
The book discusses the Efficient Market Hypothesis (EMH) and its three forms. The EMH has a lot to do with information and stock prices. How does information get into prices? How do we know if prices reflect all available information?
Assume the market for fertilizer is perfectly competitive and is in equilibrium. Draw a graph for the Supply and Demand for fertilizer as well as a graph for the individual firm. A change in the weather causes an increase in demand for fertilizer. Dr..
Assume to latest discoveries in biochemistry significantly lengthen our life expectancy. Illustrate what is the impact on the educational attainment of workers
Explain how much he finishes up paying each provider every month. Explain how much customer extra he obtains with each provider.
q1. the average variable cost per acre planted with wheat was 107 per acres. assuming a yield of 50 bushels per acre
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