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Wicksteed made a significant contribution to value theory during the marginal utility revolution. This contribution was the "Exhaustion of the product". Explain the importance of this contribution. Explain the significance of the Euler theorem and the assumption of constant returns to scale in deriving the solution. In what ways is this contribution similar to Marx's Transformation Problem, in what ways is it different?
q1. gerry receives a raise from 10 per hour to 12.50 per hour. after the raise gerry increase the number of channels in
Conclude which of these three countries would be the best choice also support your answer.
"As manager of a local hotel chain, you have hired an econometrician to estimate the demand for one of your hotels (H). The estimation has resulted in the following demand function"
q.assume which in the u.s. in 2007 investment is 1600 billion saving is 1400 billion government expenditure on gods and
q1. from the price elasticity calculated above we can say that if the price of x increases by 10 then its demand will
In general, how would a capital budgeting constraint on the available amount of investment funds influence these decisions? How would differing levels of project risk influence these decisions?
Draw the demand curve and show the values of the price and quantity intercepts using the linear equation for Qx=28,000,000-Px divided by 1000.
Calculate point price elasticities of demand for each customer product at activity levels identified in part A.
Provide an example when it could be appropriate to conduct a time-series or cross sectional data. Discuss the potential problem that may arise with your example and identify strategies for minimizing the impact of the potential problem.
Describe how each of these activities affects government, households,and businesses. Describe the flow of resources from one entity to another for each activity.
q.assume there are 100 identical firms in an initially competitive market. market demand is given by p10-q200 and
Sketch the isoquant corresponding to an output level of 100 units What is the MRTS for this production function? Does the isoquant exhibit a diminishing MRTS?
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