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suppose that a simple society has an economy with only one resource,labor. labor can be used to produce onlt two comodities-x, a necessity good and y, a luxury good.suppose the labor force consist of 100 workers. one laborer can only produce either 5 unots of necessity per month or 10 units of luxury per month.
on a graph draw the ppf. where does the ppf intersect on thy axis and where does the ppf intersect on the x aaxis?
Illustrate what is the maximum amount by which funds provide can be increased as a result of bank A's new loan
Elucidate the dynamics through which an increase in the stock of money affects real output and the price level in the short run.
Although firm expects the order to be of 6 units, determine the minimum average cost of the firm with these different order sizes.
Illustrate what output does the low point of ATC occur and illustrate what is the ATC at that output. Explain how your calculations.
Discuss some of the decisions that you must make in the short run and what might you consider to be your "fixed factor"
Consider a simultaneous-move auction in which 2 players simultaneously select bids, which must be in nonnegative integer multiples of one cent.
Madelyn owns a small pottery factory. She can make 1,000 pieces of pottery every year also sell them.
Assume which a industry has "pricing power" also can segregate its marketplace into two distinct groups based on differences in elasticities of demand.
Government budget going from deficit to surplus and the simultaneous enactment of an investment tax credit.
The 2 firms form a cartel & arrange to split total industry profits equally. Under this cartel arrangement, they will maximize joint profits.
An athletic director was once quoted as saying that he felt his school spent too much on athletics but that it could not afford to stop.
As an advisor to the project manager, Derrick Westmuller, illustrate what set of procedures would you advise they adopt.
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