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With a fixed proportions-type technology (L-shaped isoquants), a wage increase will cause:
(a) a substitution effect but no scale effect
b) a scale effect but no substitution effect
(c) both a scale and substitution effect
(d) neither a scale or substitution effect
Think of the market for cell phones. In a short answer, list at least two (2) events that would cause the demand curve to shift, and at least one (1) event that would cause the supply curve to shift. In your answer, name the event, the curve it will ..
Which one may under present quality. Describe concepts of prospective also retrospective payment for services.
explain how will you guide him regarding the redressal forums, the nature of making complaints and the working of the agency.
A firm makes and sells a computer for $1000. The variable cost to produce. A computer, for the range of production of the firm, is $300 per unit. The total fixed cost per year to make the computer are $4.0 million. How many computers must me made and..
politicians are often heard saying that tuition at state universities should be kept low to make education equally
Can Alpha make a credible threat to punish Beta with a retaliatory price cut
Bob and Jane decide to open their own business selling ergonomically correct office furniture that Jane has designed. Assume they operate this business from leased office space near their home. Is Bob & Jane's economic profit different from their acc..
One kind of gain from specialization is that
Consider an economy with its production possibilities represented by the function Y = A √ K √ L where Y represents total output (i.e GDP), K is capital, L is labor, and A is total factor productivity (TFP). Suppose the economy starts with a capital s..
To accumulate 18,000 at the end of 7n years, a deposit of 5,000 is made at the end of the first 3n years and another deposit of 7,200 is made at the end of 5n years. Find v^n where v is taken from our normal actuarial notation and v>0
Using your knowledge of utility and consumer behavior and the data below, show exactly how you would spend your income, on which goods and why. Be sure to calculate the MU/P for good X and good y, and then proceed. (20 pts) Q MU x MU y 1 90 150 2 84 ..
q1. if consumption increases by 12 billion when real disposable income increases by 15 billion what is the value of the
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