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Littleville has 1000 residents, 400 people do not currently work. Of these 400 persons, 240 are under age 16, 10 are institutionalized, 25 have become discouraged and quit seeking work, and 75 others are either full-time students or home-makers. Of the 600 people who do work, 150 work part-time but wish to work full-time.
What is the official unemployment rate in Littleville?
Explain customer-perceived value. Explain total customer satisfaction. What valuable functions can brands perform for a firm?
In terms of the consumer theory set forth in this chapter, can you explain the meaning of the following statements? a. "I think you get more for your money from Nike than from Reebok." b. "I wanted to buy a Boxster rather than a Malibu, but it just w..
Nominal GDP is the variable most commonly used to measure short-run economic fluctuations. These fluctuations can be predicted with some accuracy. Real GDP is the variable most commonly used to measure short-run economic fluctuations. It is almost im..
With regard to global warming policy, describe, in a short paragraph, the importance of: Discounted costs and benefits. b) Public goods.
According to the political business cycle theory, if the Fed wanted to see a President re-elected, prior to the election it might
Use at least one of the four Marshall-Hicks laws of derived demand to explain this difference in effectiveness between the unions.
Consider a Cournot duopoly model with inverse market demand function p = 60 - q1 - q2. Firm i's cost function is (qi)^2+10qi for i = 1 and 2. Find the Nash equilibrium outcome ( firms' outputs). Find the collusive outcome ( firms' outputs), and show ..
Suppose Qxd = 10,000 - 2 Px + 3 Py - 4.5M, where Px = $100, Py = $50, and M = $2,000.
Suppose you are studying the recent rise in shale energy. You know the inverse private demand function for shale energy is P = 100 - Qd. The private supply of shale energy is P = Qs. However, shale energy can potentially lead to pollution. The margin..
An economy produces 2 goods soda a beer. Fully explain why the marginal cost function in the beer industry derives from the marginal benefits of the soda that is given up when beer is produced.
Demand and Supply of Rolls of Film - Assignment The table below shows the demand and supply schedules for rolls of film. Price Quantity demanded Quantity supplied ($ per roll) (rolls per week) (rolls per week) 2.00 3,000 1,000 3.00 2,500 1,500 4.00 2..
A person who eats a first chocolate from a box of candies, and then a second, and a third, and so on (and nothing else), in an afternoon experiences a: simultaneous rise and fall in both total and marginal utility
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