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Question: Say that your firm's total product curve includes the following data: one worker can produce 8 units of output; two workers, 20 units; three workers, 34 units; four workers, 50 units; five workers, 60 units; six workers, 70 units; seven workers, 76 units; eight workers, 78 units; and nine workers, 77 units.
a. What is the marginal product of the seventh worker?
b. When does the law of diminishing product set in?
c. Under these conditions, would you ever choose to employ nine workers?
1.Graphically illustrate and explain why a fixed exchange regime without foreign exchange controls is incompatible with inflation targeting.
Which of the following variables or policies can influence economic growth in the long run?A. an increase in capital stock
Antitrust authorities at the Federal Trade Commission are reviewing your company’s recent merger with a rival firm. The FTC is concerned that the merger of the two rival firms in the same market will increase market power.
A monopolist produces trinkets at $2/unit. The demand for trinkets as a function of unit price p is: D(p) = 100-p.
We're looking at the market for cat food. When the price is $10, the quantity sold is 1000 bags. When the price drops 10%, the quantity sold increases 30%.
Illustrate the effects of an income tax which exempts savings from the tax base - On grounds of equity and efficiency, assess the recent Nova Scotia budget.
The market price of the product the firm produces is $4 at each quantity supplied by the firm. What is the amount of labor that this profit-maximizing firm will hire,or what wage rate will it pay.
How does the demand curve faced by a perfectly competitive firm differ from the market demand curve in a perfectly competitive market? Explain.
1. What are the four areas from which capital can be obtained to expand assets 2. What is the advantage of long term debt (bonds) verses short term debt (current) 3. How can you determine when a bond comes due 4. When emergency loans are taken, when ..
How would you conclusion change for the winter months, if bad weather makes it likely for traffic jams on the highway to increase to 6 days per month?
assume that apple industry wants to merge with another software company such as microsft and has to make some long
How much time will Thoreau spend in leisure?
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