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Two persons, Abigail and Noah, each allocate their time between market work and housework. Abigail earns $12 per hour in the labor market, and can produce $18 worth of goods and services per hour at home. Noah earns $10 per hour in the market and can produce $5 worth of goods and services per hour at home.
a. Draw their separate production possibilities frontiers, labeling intercepts and slope. Who has the comparative advantage at home production? At market work?
b. Now suppose that Abigail and Noah get married and combine forces. Draw their joint production possibilities frontier. Label who is working at home and in the market (specifying full or part time) for each segment of the line. Label the point of full specialization.
A hearing is scheduled for your company to present arguments that your firm has not increased its market power through this merger. Can you do this? How? What evidence might you bring to the hearing?
Elucidate what impact will this change have on the price level, output, and employment in the short run in the United States.
For the following cash flow, compute the interest rate at which the $240 cost is equivalent to the subsequent benefits.
smaller multiplier means that change in government purchases of goods and services, government transfers, or taxes necessary to close an inflationary or recessionary gap is larger. How can you explain this apparent inconsistency.
Illustrate what are the concepts gender planning, gender budgeting and gender mainstreaming mean.
_____ focuses on how individuals manage a global business.
A machine is purchased for $56,000 with a useful life of 5 years, after which, it is estimated to be worth $5,000. The machine will be operating 2,500 hours per year with annual maintenance and operating costs of $6,000. Using an interest rate of ..
Write down the different costs associated with putting on an NFL game. Classify these costs as either fixed costs or variable costs. Assume that a single playing season constitutes the short run.
q1. explain the effects of the increase in global demand for cell phones on the market for cell phones and on an
The majority of the world's diamonds comes from Country A and Country B. Suppose that the marginal cost of mining a diamond is $1,000 per diamond and that the demand schedule for diamonds is as follow there is moreshow problemThe majority of the worl..
Calculate market demand and market supply. How this affects golden rule of capital per worker and golden rule of savings rate in so low model and explain your results.
Illustrate what was the value of the government expenditure multiplier. Suppose that investment declined by $40 to a level of $60. What will be the new level of equilibrium income.
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