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a firms technology needsit to combine 5 person-hours of labor with 3 machine-hours to make 1 unit of output the firm has 15 machines in place and the
asuume there are two inputs in the production function labor amp capital and these two inputs are perfect substitutes the existing technology permits
consider the following hypothetical story last spring there was an outbreak of a nasty disease known as cyclosporiasis which was eventually traced to
in regards to air pollution use a diagram to show and explain how the existence of pollution can make the market equilibrium
why we need to distinguish between private cost and social
explain the concept of externality in economics give one example of a positive and a negative externality in
a company is selling a particular brand of tea and wishes to introduce a new flavor how will the company forecast demand for
discuss the full cost pricing and marginal cost pricing method explain how the two methods differ from each
discuss the price output determination using profit maximization under perfect competition in the short
one lumber producer may locate a plant in the same area if it does there will be more competition for labor and the labor supply function facing
northern lumber operates a large lumber-processing mill in a small town in washington state it is one of the larger lumber producers in the
in a one-shot game if you advertise and your rival advertises you will each earn rm5 million in profits if neither of you advertises your rival
mcdonalds has been operating in many asian countries such as china singapore and japan however mcdonalds has yet to open its rstrestaurant in vietnam
what is identity economics how does identity economics help to explain economic questions that standard economics fails to
the war on drugs is an expensive battle as a great deal of resources go into catching those who buy or sell illegal drugs on the black market
1 define arc elasticity2 explain the law of diminishing marginal returns3 what is prisoners dilemma of non cooperative game4 what is third degree
bullbudget constraint budget line budget set budget constraint is a very important concept in economics and is utilized even in advanced economic
explain cost output relationship with reference toa total fixed cost and outputb total variable cost and
explain how a product would reach equilibrium position with the help of -iso-quants and iso-cost
supply and demanddiscuss and analyze following statementthe wall street journal reported that recent law school graduates were having a very
discuss and analyze following statementwhen burton cummings graduated with honors from the canadian trucking academy his father gave him a 350000
a a major freeze destroys a large number of orange trees in floridaans- since the freeze destroyed a large number of orange trees in florida the
only for extra credit consider freddy on a rainy thursday afternoon after losing in his favorite video game his friend tommy comes over to cheer him
let there be two consumers a and b each buying at most two units of a good a values having one unit at pound10 and having two units at pound12
imagine an amusement park with a sole attraction a roller coaster for simplicity the cost of providing a ride is zero there is a single consumer with