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1. Why does production eventually experience diminishing marginal returns to labor in the short run?
2. You are an employer seeking to fill a vacant position on an assembly line. Are you more concerned with the average product of labor or the marginal product of labor for the last person hired? If you observe that your average product is just beginning to decline, should you hire any more workers? What does this situation imply about the marginal product of your last worker hired?
The highest quantity of lobsters demanded and what is the marginal net utility (consumer surplus) when the market price is $ 4.00 per lbs. why?
The problem belongs to Economics, mainly to Micro-economics and it converse about a firm operating monopolistically in a competitive market ends up with super-normal profit with advertisement.
is there good reason to believe that evening customers purchase on average more than day customers? support your
Write the subsequent demand equation, with Qd as the dependent variable; Price, Advertising, Product Development, and Rel Price as the independent variables - important in determining quantity demanded? Justify the reasoning?
joe has never trusted banks and always kept his money in cash. joe pulls out his money jar discovers that it has 20000
What effect would each of the following have on aggregate demand or aggregate supply? Explain.
given the following information would your decision be to reject or fail to reject the null hypothesis? setting the
Actually Apple is how big, based on Market Capitalization and explain
Libertyville has two optometrists, Dr. Jones (J) and Dr. Smith (S). Each optometrist can choose to advertise his service or not. The net revenue to each optometrist, in thousands of dollars, is listed on the payoff matrix below
Assume that a hypothetical economy with an MPC of 0.75 is experiencing a severe recession. 1. By how much would government spending have to rise to shift the aggregate demand curve rightward by $50 billion 2. How large a tax cut would be needed to ac..
the cross price elasticity of demand of soft drinks for popcorn is -2.0; and the income elasticity of demand for soft drinks is 1.2. Use this information to answer the following question.
Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for that nation. Which of the following scenarios are either not accounted for or measured inaccurately by either the inco..
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