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A firm can hire 10 workers at a wage of $10 but has to pay a wage of $12 to ALL workers to get the 11th worker. What is the marginal cost of adding the 11th worker?
the effect of new technology on consumers is that it makes life easier for society. Cell phones have become miniature computers that can do just about anything we want now. Our cell phone for the past few years have a lot more processing power tha..
Perform established products in mainstream markets, they often offer features or capabilities appreciated by some fringe customer group.
Explain how the price of a product is determined. Analyze how a bartender would know that the price of an exotic drink was too low or too high. Provide adequate conceptual justifications.
The price of MP4 players has been going down in the past decade. Give an explanation for this consistent drop in the price of MP4 players. Use the model for long run competitive firm to illustrate your answer. Draw two graphs. One is to show the ..
1. the federal reserve provides which of the following dataa. federal funds rateb. stock price of gec. bond yields of
Explain: “Politicians would make more rational economic decisions if they weren"t running for reelection every few years.” Do you favor term limits for elected officials?
Most countries import substantial amounts of goods and services from other countries. Yet the theory says that a nation can enjoy a high standard of living only if it can produce a large quantity of goods and services itself..
What is the cultural phenomenon at play here and how do you explain the lack of intercultural communication and interaction?
Formulate and solve it as a DP problem to help the farmer to maximize his expected profit.
What will be the deadweight loss created by this monopoly?
one function of the foreign exchange market is to convert the currency of one country into the currency of another. a
The nation of Aquilonia has decided to end its policy of not trading with the rest of the world. When it ends its trade restrictions, it discovers that it is importing rice, exporting steel, and neither importing nor exporting TVs. We can conclude..
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